Mid-Year Firm Update From Draus & Associates
Happy mid-year 2021 from the Draus & Associates team! Another tax season is almost in the books, and we are very thankful to all our clients who kept their tax business with us for another year. As we move towards the back half of the year, the team here at Draus & Associates is continuing to grow not only as a tax and accounting services provider, but as a multi-service advisory firm. Our team here at Draus & Associates prides itself on providing the highest quality tax/accounting services, but also continuously seeking other ways to add value to you, the client. With value add in mind, beginning August 1st, 2021, Draus & Associates will be launching its first service for the digital asset space. We will be providing cryptocurrency private wallet application installation and educational consulting along with digital custodial services (we know…you are probably thinking ‘what does that mean?’)
In the ever-evolving socioeconomic world we live in, it is highly likely you have run across the words cryptocurrency, bitcoin, blockchain, or digital assets. For most of you reading this it is likely you are thinking “I’ve heard of it on the news or from a family member that’s about it”. We understand it is a very new space and a mysteriously innovative technology most people have not taken the time to explore and dive deeper into. That said, with current events unfolding such as SEC registration of the first bitcoin exchange-traded fund, large institutional banks offering crypto services to high net worth clients, launching of the first mainstream U.S. coin application “Coinbase”, recognition and legislative discussion by the United States Congress along with the Federal Reserve as documented in its quarterly minutes, and lastly legalization of bitcoin as legal currency in El Salvador, we can no longer take a back seat while the world marches forward. With all the global changes occurring, we have decided to move forward with our digital custodial services, and are offering them to our existing client base and looking to grow this area of the firm.
If you have interest in this service or are interested in learning more about our services or the basics of cryptocurrency, please feel free to reach out to your CPA advisor who you worked with this past tax season. Many of our associates here are in the process of obtaining certifications in becoming blockchain and bitcoin professionals. We see this technology and industry continuing to progress exponentially into the future. We are reaching out to help guide our clients on their future financial/investment changes and are excited to be a resource for you.
If interested please contact John Allegretti, our Digital Asset Manager, at jallegretti@drausandassociates.com or by phone at 224-985-3000.
