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Speculative Cryptocurrencies Are Now Tax Risks, Too

Your high-net-worth clients may be tempted to invest by the headline prices of bitcoin and other cryptocurrencies, but new court decisions and legislation put tax minefields in such investments. “While cryptocurrency investing is a hot topic and trend largely due to its decentralized approach to currency, it’s not exempt from the far-reaching power of the IRS,” said Tyler DeWitt, an attorney and CPA.

Early Adoption Options Could Ease Some Accounting Strife

Despite the enormity of accounting change occurring at public companies, some might spare themselves a little grief by adopting certain rules even before they are mandatory. Companies are already wrapping up some significant implementations for standards that took effect in 2018, not the least of which are the massive new requirements for when and in what amounts to recognize revenue in financial statements.

Why Your Solo Practice Needs a Succession Plan

If you’re a solo practitioner, ask yourself what would happen if you were suddenly disabled, got hit by the proverbial bus, or just decided you were done. Who would take care of your clients? Who would know the passwords and log-ins so they could access your files and make sure all those filing deadlines are met? Here’s a story of how it can go wrong if there’s no plan in place.

U.S. Factory Jobs Power Ahead

American factories are coming back to life on their own. U.S. manufacturers added 22,000 jobs in March, a U.S. Department of Labor (DOL) report showed April 6, making the six-month hiring spree the strongest since 1998.

Email Compromise Scams Show No Signs of Abating

Forged checks or stolen corporate cards are still the most popular means of attack by payment scammers, but another method — email compromise — is rising in popularity. Email compromise scams are now the tip of the spear driving a rise in payments fraud activity, according to a report by the Association for Financial Professionals.