If your cryptocurrency activity this past year included any taxable event, it’s important that you are tracking your activity properly and have the necessary documents when you file. If you’re not sure about which activities are taxable events, check out our blog on taxable cryptocurrency activity here.
Spencer Helwig joined Corrigan Krause as a first year associate in September 2020. Starting his career during a pandemic was certainly a unique way to break into the accounting industry, but the pandemic wasn’t the only challenge ahead of him. Looming just after the holidays, before the first signs of spring, was his first busy season at a public accounting firm.
This year, we are excited to announce our Individual Income Tax Organizer process is now completely electronic through SafeSend Organizer! SafeSend Organizer will take the place of the organizers and questionnaires we’ve historically sent separately through the mail or the portal at the kick off of tax season to help you get organized. In addition to SafeSend Organizer, we will again use SafeSend Returns as our electronic delivery service for you to review and sign your return electronically.
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets in September 2020. The FASB aims to make the presentation and disclosure of gifts-in-kind (GIKs) more transparent and consistent across nonprofit accounting.