# Grimmett & Company > Top Rated Local® Tax And Accounting Firm - Grimmett & Company ## Posts - [The Endless Pursuit of PI: A Quick Journey Through Its History](https://grimmettco.com/grimmett-co-articles/the-endless-pursuit-of-pi-a-quick-journey-through-its-history/) - [Opinion: Why Cryptocurrency Will Be the 12th Sector of the S&P 500](https://grimmettco.com/grimmett-co-articles/opinion-why-cryptocurrency-will-be-the-12th-sector-of-the-sp-500/): In recent years, cryptocurrency has transformed from a niche investment to a major financial force, impacting markets, governments, and global economic policies. As it continues to gain legitimacy and acceptance, the likelihood of cryptocurrency becoming the 12th sector of the S&P 500 is not only possible but, to many, inevitable. This blog post explores the reasons behind this significant shift and its potential implications. 1. Increasing Institutional Adoption: One of the most compelling arguments for cryptocurrency’s inclusion in the S&P 500 is the increasing institutional adoption. Banks, hedge funds, and other traditional financial institutions have started to recognize the value and […] - [Beneficial Ownership Information and the Corporate Transparency Act](https://grimmettco.com/grimmett-co-articles/beneficial-ownership-information-and-the-corporate-transparency-act/): The Beneficial Ownership Information (BOI) report and the Corporate Transparency Act (CTA) represent significant steps forward in the United States’ efforts to combat financial crimes, money laundering, and the concealment of illicit funds through complex corporate structures. This comprehensive article explores the background, key provisions, implications, and challenges associated with these regulatory measures. Background and Rationale: The Corporate Transparency Act, enacted as part of the National Defense Authorization Act for Fiscal Year 2021, addresses a critical vulnerability in the U.S. financial system: the ability to form legal entities without disclosing the true owners’ identities. This loophole has been exploited for money […] - [Starting a business can be a complex endeavor. Here are ten important things to consider:](https://grimmettco.com/grimmett-co-articles/starting-a-business-can-be-a-complex-endeavor-here-are-ten-important-things-to-consider/): Remember, each business is unique, so adapt these considerations to your specific circumstances and industry. Contact us to learn more. - [Leveraging Vehicle Depreciation: A Valuable Asset for Self-Employed Individuals](https://grimmettco.com/grimmett-co-articles/leveraging-vehicle-depreciation-a-valuable-asset-for-self-employed-individuals/): This one is for you @KellyInVegas – For self-employed individuals, tax planning is a crucial aspect of managing their finances effectively. One commonly overlooked area where significant tax benefits can be gained is through the depreciation of vehicles used for business purposes. By capitalizing on the tax advantages offered by vehicle depreciation, self-employed individuals can lower their taxable income, increase their business deductions, and ultimately enhance their financial bottom line. Understanding Vehicle Depreciation: Depreciation refers to the gradual decrease in the value of an asset over time. The IRS allows self-employed individuals to deduct the depreciation of vehicles used for business purposes as […] - [Exploring the Pros and Cons of Subscribing to Forbes Councils](https://grimmettco.com/grimmett-co-articles/exploring-the-pros-and-cons-of-subscribing-to-forbes-councils/): Back in October, I was invited to be a member of the Forbes Business Council. Out of sheer curiosity, I decided to go down the rabbit hold. After six months in, I must say, there are many pros and cons. So much so that I wanted to write a brief article on what the Forbes Councils are and list a few pros and cons to educate potential members. Forbes Councils is a prestigious network of invitation-only communities that brings together business professionals and industry leaders across various sectors. These councils offer exclusive benefits and opportunities for members, but it’s essential to […] - [Short-Term vs. Long-Term Capital Gains: Understanding the Difference](https://grimmettco.com/grimmett-co-articles/short-term-vs-long-term-capital-gains-understanding-the-difference/): Today, we’ll shed light on an important topic that often confuses investors: short-term and long-term capital gains. Whether you’re a seasoned investor or just starting to dabble in the market, understanding the difference between these two types of gains is crucial for managing your tax liability effectively. So, let’s dive in and unravel the complexities! Short-Term Capital Gains: Quick Profits with Higher Taxes Short-term capital gains are profits made from selling an asset that you’ve held for one year or less. These gains are taxed at your ordinary income tax rate, which means they can be subject to higher taxes compared […] - [Understanding the Five Most Common Types of Taxable Income](https://grimmettco.com/grimmett-co-articles/understanding-the-five-most-common-types-of-taxable-income/): Happy Friday the 13th! Tax season season can be scary and can be a daunting time for many individuals, especially when it comes to understanding taxable income. It’s essential to grasp the various types of taxable income to ensure compliance with tax laws and make informed financial decisions. In this blog post, we will explore the five most common types of taxable income, accompanied by easily understandable examples. 1. Earned Income: Earned income is perhaps the most familiar type of taxable income for many individuals. It refers to the money you earn through employment or self-employment. This includes salaries, wages, tips, […] - [What is the Employee Retention Credit?](https://grimmettco.com/grimmett-co-articles/what-is-the-employee-retention-credit/): The Employee Retention Credit (ERC) is a tax credit introduced in response to the COVID-19 pandemic to encourage employers to keep employees on their payroll. The ERC was initially introduced as part of the CARES Act in March 2020 and has since been extended and expanded by subsequent legislation. The ERC is a refundable tax credit that eligible employers can claim against certain employment taxes, including the employer’s share of Social Security and Medicare taxes. Eligible employers can claim a credit of up to 70% of qualified wages paid to employees, up to a maximum credit of $7,000 per employee per […] ## Pages - [Locations](https://grimmettco.com/locations/): Find local tax and accounting support from Grimmett & Company for businesses across Southern Nevada and Southern Utah. 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