Cryptocurrency ownership rates continue to increase: 40% of Americans now own crypto, up from 30% in 2023. And the IRS has noticed. Last month, they released a draft of Form 1099-DA – “Digital Asset Proceeds from Broker Transactions.” This will be the official tax form crypto owners and brokers will use to report digital asset transactions starting in 2025.
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A lot of things go into running a business, and one of the most important ones is maintaining its financial health. The best way to do that is by building a relationship with your CPA. After all, how can your CPA understand your business needs if he doesn’t know your business? This leads to the question: how often should you meet with your accountant, and what topics should you cover during these meetings? Let’s explore.
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Every entrepreneur will tell you that building a successful business is exhilarating – and the thought of letting it go is stressful. You’ve poured your heart and soul into nurturing your business, but what happens when it’s time to pass the torch?
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The impact of automatic enrollment in 401(k) plans is becoming increasingly evident. On average, 401(k) plans with an automatic enrollment feature have a 20% higher participation rate than plans without. This translates to a more financially secure future for your workforce. However, the landscape is set to shift further.
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While the IRS created a moratorium on new Employee Retention Credit (ERC) claims in September of last year, they have continued to process previously filed claims. However, increased concerns about fraudulent claims have led to a more rigorous review process.
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