There has been discussion in Washington DC regarding changes to tax loopholes that benefit crypto investors. These proposed changes are thought to bring in tax revenue of over $20B. Below are the current strategies some crypto investors employ to legally…
Broker Dealer Update: FINRA shares bank concern
Did you bank make the list? Here at MCCPA we are gathering information about the banking trouble touching a number of clients and affecting our industry. We will share our finding with you as it is released. We feel that…
Accounting Brief: 5 accounting rules that may affect your business in 2023
1. Targeted improvements for long-term insurance contracts Accounting Standards Update (ASU) No. 2018-12, Financial Services — Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, was issued in 2018, but its effective date was deferred twice. It requires…
Crypto Brief: Two Cryptocurrencies To Be Regulated as Commodities Per New Bill In the Senate
A bipartisan bill proposed in the Senate named the Digital Commodities Consumer Protection Act was introduced in late July. This legislation clarifies that bitcoin and ether, two popular cryptocurrencies, are classified as commodities, as opposed to securities which are under…