Digital Currency

The IRS classifies cryptocurrency as property, then they turn around and issue John Doe Summonses[2] to Coinbase, which was the same thing the IRS did to foreign bank accounts, seemingly treating coin as currency. However the taxation of coin works ...

The new tax reform law covers many aspects, from business taxation to individuals and deductions, which can make it challenging for taxpayers and tax professionals to keep up with the changes.

In 2014, the IRS classified cryptocurrency as property, and not currency. How property is taxed is that if you hold an asset for less than a year, and you sell it, you pay ordinary income tax at your ordinary tax rate. If you hold that asset for a year ..

Revenues were up a solid 7.8%, a tad less than the prior year’s 8.1%. Growth from mergers accounted for 26% of total growth compared to 28% the previous year and 30% the year before. So from that, one could conclude that the impact of mergers on ...

Currently, the US treats cryptocurrency as property. The IRS requires that the value of cryptocurrency be reported in US dollars with the fair market value determined at the time of payment or receipt. This calls for specific record keeping ...

While AI and robotics may represent the long-term future of treasury management, more than half of finance professionals surveyed (52 percent) expect faster or real-time processing to experience major growth in payments innovation in 2018.

Regardless of the source, there’s a lot in motion that’s going to shake up the profession in the coming year. In the spirit of helping out our fellow accountants, here are a few predictions for the accounting professional in 2018.

Unless you’ve been living under a rock, you’ve probably heard of Bitcoins meteoric rise. At time of writing, BitCoin was sat at somewhere around $19,000 a unit. So popular is bitcoin that I wouldn’t be surprised if your grandparents brought it up at ...