Posts by Mitchell Kopelman
Big Changes for the Crypto World Part 1: How the Infrastructure Investment and Jobs Act will Impact Cryptocurrency
At a glance Schedule a consultation with Aprio today. The full story: What does cryptocurrency have to do with infrastructure? Not much, other than the fact that it plays a role in how Congress intends to pay for the infrastructure bill. There are two primary reporting requirements which concern the crypto industry: IRS Forms 1099-B…
Read MoreInfrastructure Investment Jobs Act and Build Back Better Act: What’s in these Bills and the Impact on You and Your Business
At a glance: The Infrastructure Investment Jobs Act passed by Congress on November 5, 2021 has been sent to President Biden to sign. Learn about the incentives included and how they may benefit you and who will pay for the benefits. Learn about the new crypto filing requirements that will impact everyone involved in investing…
Read MoreFemale Entrepreneurs: Find the Right Grant for Your Small Business
At a glance Need assistance finding and selecting the right funding option for your business? Schedule a consultation today. The full story: The competition for small-business grants is fierce, especially for women-owned businesses. Women across the globe are empowering each other, driving change and reinforcing how female entrepreneurs are fundamental to growing a strong economy. Yet…
Read MoreWhat Upcoming Tax Legislation Might Mean For You, Your Business, and Your Estate Plan
At a glance The main takeaway: House and Senate Democrats are debating and modifying President Joe Biden’s tax proposals with a view toward passing legislation as part of the budget reconciliation process. Each of the competing proposals contain tax increases, including rate changes, new or restored limitations on deductions and the likelihood of increased IRS enforcement.…
Read MoreBlockchain: The New Fraud Fighting Tool
At a glance: Get ahead of the fraud risks by partnering with an experienced team. Schedule a consultation today. The full story: Most people think of blockchain as being synonymous with cryptocurrency, assuming the technology only lends itself to financial transactions. The truth is that applications of blockchain technology extend far beyond facilitating Bitcoin and other…
Read MoreQSBS Exemption: How to Reap Big Tax Benefits for Your Small Business
At a glance The main takeaway: The qualified small business stock (QSBS) exemption is a lucrative tax opportunity for eligible small businesses and those who invest in them. What’s in it for you: If you qualify, you can reap up to $10 million in federal tax savings by taking advantage of the QSBS exemption. Next steps: Aprio’s Tax…
Read MoreInside the $80 Billion Plan to Enhance IRS Enforcement
At a glance Schedule a consultation with our team today The full story: While most of DC and the policymaking world focuses on the infrastructure bill, there is a different piece of regulatory news waiting in the wings: tax enforcement legislation totaling $80 billion. As part of the proposals made in the American Families Plan,…
Read MoreTax Update: New Guidance on New York’s Pass-Through Entity Tax Credit
At a glance Schedule a consultation The full story: Hot off the press: on August 25, 2021, New York State issued a Technical Memorandum[1] that provides guidance on its pass-through entity tax. First, let’s take a step back On April 19, 2021, New York State’s 2021─2022 Budget Act was signed into law. The Budget Act includes…
Read MoreIRS Addresses Bitcoin Cash Fork, Four Years Later
At a glance: IRS announcement: In line with previous announcements, the IRS reiterated their position that taxpayers who received Bitcoin Cash following the hard fork in 2017 must report the value as taxable income. What it means: Cryptocurrency investors need to be diligent in reporting all virtual currency transactions (including the receipt of newly created…
Read MoreTax Implications of PPP Funds Finally Align with Congressional Intent
On December 20, 2020, Congress agreed to terms of the Emergency COVID Relief Act of 2020 (the Act). The Act, which will provide an additional $900 billion of funds to stimulate the economy, includes significant changes to the Paycheck Protection Program (PPP). President Trump signed a one-day extension of government funding to prevent a government…
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