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Sunday, Feb 25, 2024

Emerging Practices

Where can Valley-region accounting firms look for new clients? In expanding sectors of the economy, of course, especially where bookkeeping rules are still in flux. This Special Report looks at three such emerging practice areas for Valley accountants: Cryptocurrency investing, cannabis retailing and online streaming in the entertainment business. In cryptocurrency, the Internal Revenue Service wants to know about people’s transactions involving Bitcoin and other virtual currencies. Cannabis growers and retailers face an array of sales, excise and other taxes, in addition to the security and tracking problems of a cash-heavy business. And for companies working in video and audio streaming sector of the entertainment industry, income streams and cost allocations have a new set of rules. – Joel Russell

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