The Ethereum Merge is Almost Here – What You Need to Know

Blue ethereum coin with other currency icons around it

By: Emily Cheshire, Segment Leader, Cryptocurrency & Blockchain At a glance Main takeaway: Ethereum, the second-largest cryptocurrency, is about to undergo a historic and highly anticipated upgrade to the fundamentals of how transactions on the blockchain are verified. Impact on your business: Energy consumption, processing speed and fees are all expected to improve. Users are…

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Government Regulation of Cryptocurrencies and Other Digital Assets

Bitcoin on top of a virtual background

At a glance Main takeaway: President Biden signed an Executive Order outlining a whole-of-government approach to ensure responsible development and use of cryptocurrencies. The Order adds to changes announced last year regarding Form 8300 and 1099-B reporting. Impact on your business: Updated CRS definitions, including that of Depository Account, now include accounts that hold specific…

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Bonus Depreciation Phase Out and What it Means for Your Business

suited figures discuss business plans

At a glance The main takeaway: Bonus depreciation, a favorable, bipartisan-supported tax provision, is unlikely to be extended before December 31, 2022. While it’s not recommended to make large investments for the sake of a potential tax break, however, strategic investments should be top of mind for businesses. Impact on your business: Despite its popularity,…

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Digital Asset Staking: Your Top Tax Questions, Answered

At a glance The main takeaway: A U.S. District Court case out of Tennessee calls into question the taxability of staking rewards — specifically, whether those rewards generate taxable income. Impact on your business: Taxpayers who engage in staking, mining or similar activities currently operate in a tax “limbo,” but that may change with the development of…

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Aprio Box Announcement

Watch the video to learn how to share files with your Aprio Team using Box At Aprio, we are constantly seeking opportunities to enhance the client service experience through state-of-the-art technology and tools. We are implementing Box to advance efficient, seamless and secure collaboration between you and your Aprio team. Aprio is now utilizing Box…

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North Carolina Businesses Set to Receive a New Wave of COVID-19 Financial Relief

At a glance:  The main takeaway: Through January 31, 2022, eligible businesses across North Carolina can apply for grant money to help navigate financial hardships due to COVID-19. Impact on your business: Depending on the type of grant you’re eligible for, your business could receive up to $500,000 worth of relief. Next steps: Contact your Aprio advisor for help…

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