Cryptocurrency Taxation: Nuts, Bolts and Tax Law Updates

Description

With over 40% of Americans owning digital assets and a single bitcoin now valued at over $100K, cryptocurrency is no longer a niche subject. But a few tax professionals understand how to help individuals and businesses dealing with digital assets. This session walks you through the tax implications of common cryptocurrency-related transactions and how to successfully service clients dealing in digital assets.

Objectives

• Learn what cryptocurrencies are and their use cases
• Understand how to safely interact with cryptocurrency & NFTs (buying, selling & storing)
• Understand the tax implications of investing in cryptocurrency, running a mining operation, using NFTs, and using cryptocurrency as a payment method
• Recognize challenges in dealing with cryptocurrency-related clients
• Understand the implications of IRS's latest guidance on digital assets 
• Apply tax planning opportunities
• Serve clients with cryptocurrency transactions using a tool like CoinTracker.com

Designed For

Managers, business owners, investors, and anyone else interested in learning about virtual currencies