What We Are Reading This Week - October 11, 2019

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1. IRS Issues New Guidance on Virtual Currency

  by CPA Practice Advisor

  This timely update is brilliantly highlighted in the latest from the CPA Practice advisor. With many individuals, groups, and companies going more towards cryptocurrency, accounting specialists will need to learn how to deal with it in terms of taxes in reporting. A fresh report sums it up:

  In Notice 2014–21, the IRS applied general principles of tax law to determine that virtual currency is property for federal tax purposes. The Notice explained, in the form of 16 FAQs, the application of general tax principles to the most common transactions involving virtual currency.

2. Get Ahead This Fall

  by Nellie Akalp

  Holiday season preparations have begun, making it virtually impossible to leave any tasks for tomorrow if you want to enter into the holidays without any missed deadlines and wrongly filed forms. This helpful article from the Accountex Report points out key elements of getting things done. Right now.

3. What Do Financial Advisors Do, and Do I Need One?

  by Anna-Louise JacksonAndrea Coombes

  This piece from Nerdwallet gets into details (which we love) exploring why you might need a financial advisor without thinking so and what holistic approach means in personal finance. We love the structure which explains what kinds of advisors there are (spoiler alert: it talks about robots too!) and which one might be suitable for your situation.

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