Jeffrey A. Campbell CPA - December 2021

Jeffrey A. Campbell CPA - December 2021

www.MayfieldHeightsCPA.com (440) 720-0959

December 2021

The Future of Cryptocurrency What’s Next?

The popularity of cryptocurrency has continuously increased. More businesses are beginning to accept cryptocurrency, and it’s not just niche markets. Microsoft, Home Depot, and even Starbucks have allowed people to pay with Bitcoin. Microsoft first started allowing it back in 2014, and other industries have started to follow suit. While Bitcoin still reigns supreme, other cryptocurrencies like Dogecoin, Litecoin, and Ethereum have seen a large boost over the last couple years. In spring 2021, it appeared as though cryptocurrency was heading to new heights before the market crashed. Ethereum surged past $4,000 in May but quickly fell below $2,000 by June. Dogecoin hit 70 cents per coin before it collapsed. Ethereum has continued to rise since its initial fall in June, but Dogecoin has yet to recover. Bitcoin did not escape the spring crash; it dropped from almost $64,000 per unit to less than $37,000 from April 12 to May 20. While Bitcoin has not returned to its pre-crash high, it has slowly risen and does not seem to be slowing down anytime soon. Currently, cryptocurrency is not very well-regulated. It’s used globally, and there are few laws or regulations in place to make it safer for the general public. Countries like China have already cracked down on crypto mining, but the U.S. is struggling to decide which agencies would have jurisdiction to oversee the industry. The IRS, Federal Reserve, the Securities and Exchange Commission all have expressed their interest in taking on crypto regulation. Regulations would affect the price of cryptocurrency as well as taxes. Proposed legislation from the last year would make it easier for investors to properly report any transactions involving cryptocurrency. This legislation would also make it easier for the IRS to crack down on tax evasion involving cryptocurrency. Many experts believe that as cryptocurrency is discussed more in the mainstream media, it will become more accepted globally. While big names have already made the jump and accept cryptocurrency

payments, there are plenty more that don’t accept it. However, sports organizations, fast food chains, and movie theaters have also started accepting Bitcoin. It’s only a matter of time before big names like Amazon or Walmart hop on board. While it’s unlikely that Bitcoin or other cryptocurrencies will ever dethrone the dollar, some experts believe it could be used like credit and debit cards in the future. But it will need to be regulated and centralized before that is possible.

The simple truth surrounding cryptocurrency and its future is that it is unpredictable. The price of Bitcoin and other cryptocurrencies is still

very volatile, and crashes like what we saw in May could come at any time. Bitcoin and Ethereum were able to rebound after the crash, but there’s no guarantee that they will be able to next time. If you’re looking to invest in cryptocurrency, do your research beforehand.

Please call us at(440)720-0959 to find out how we can help you!

(440) 720-0959 | 1 -Jeffrey Campbell

Think Better With Adam Grant’s ‘Think Again’

A Better Mindset for Growth Think about the sting you feel when you are proven wrong. It hurts, doesn’t it?

nature, but as we gain more accessibility to information, we must be willing to do two things: rethink and unlearn.

But what if it didn’t have to? Better yet, what if it shouldn’t?

Grant challenges readers to stand in the discomfort of being wrong, celebrate that there is something new to learn, and challenge themselves to interact with those who propose a new way of thinking. By doing so, Grant asserts that we can speak and argue with conviction while actually engaging and listening to arguments as if we are wrong. This allows us to learn, engage, and grow. In “Think Again,” Grant asks readers to consider better ways to approach their steadfast beliefs. Readers will find amusement in Grant’s real-world examples of turning skeptics into believers within a variety of topics. And, through these examples, readers will discover new ways to listen so they can gain a greater understanding of the world around them. You can pick up your copy of “Think Again” and other books by Grant from an independent book retailer or by visiting Amazon.com.

Regardless of our attempts at humility, humans’ egos have inflated, and we are all conditioned to believe that being wrong somehow equates to being a bad person. However, renowned author and psychologist Adam Grant challenges this notion in his New York Times bestseller, “Think Again: The Power of Knowing What You Don’t Know.” With today’s divisive climate, Grant argues that we hold our beliefs up like a badge, illuminating them so brightly that we become blind to other truths or realities. Far too often, our mindsets focus on what is black and white, rather than understanding the gray nuances found in between. In “Think Again,” Grant’s third book, he argues that as rapidly as we get information in today’s digital world, we cannot be expected to fully know all of it. Being wrong is part of human

See Sales Grow With 4 Lead Nurture Must-Do’s in 2022!

People want to do business with people they trust, and you can’t form a strong relationship after just one interaction. It takes time to build a connection with potential and current clients, and the more you put into these relationships, the more you will get out of them. When lead nurture is one of your top sales priorities, you land better sales, generate more customers, and create lasting partnerships that spawn referrals and more money spent.

after such a short time? Commit to the long game, and you will gain the right customers who are excited to work with you!

Use Multiple Techniques: In today’s digital age, you may believe email is the best way to put your message at the forefront of your prospects’ minds, but that’s the wrong approach. Your prospects get hundreds of emails every day — what’s going to make yours so special? (It probably won’t be.) You also have to target them with direct mail, phone calls, and freebies. Hit them on multiple levels, allowing your business to stand out from the crowd. Track: Once you make a sale, ask the customer what motivated them to buy from you. How did they hear about you? What platforms did they enjoy? This information can help you track what’s working and what isn’t, allowing you to invest properly in your lead generation campaign. Furthermore, track open rates, responses, and phone calls after you release a lead nurture message. This >Page 1 Page 2 Page 3 Page 4

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