Crypto Tax Planning: Beyond the Basics & What to Know Going Forward

November 14th, 2023 - November 14th, 2023 @ 2:00 PM-4:00 PM

Credits

Description

This session will focus on the tax planning and strategy implications that arise when clients and colleagues become more active users of bitcoin and other crypto assets. Even with price volatility and regulatory ambiguity, there are tax factors that practitioners need to be aware of as the usage and adoption of crypto continue to increase. Focused on practical applications and examples around basic and more advanced crypto tax planning, attendees will leave with actionable business intelligence to advise current and future clients.

Objectives

1. Learn what cryptocurrencies are and their use cases
2. Understand how to safely interact with cryptocurrency & NFTs (buying, selling & storing)
3. Understand the tax implications of investing in cryptocurrency, running a mining operation, using NFTs, and using cryptocurrency as a payment method
4. Recognize challenges in dealing with cryptocurrency-related clients
5. Apply tax planning opportunities
6. Serve clients with cryptocurrency transactions using a tool like CoinTracker.com

Major Subjects

• Define and explain the current state of the cryptoasset landscape, and tax marketplace
• Recognize and analyze tax regulations, as well as potential future tax changes
• Outline and articulate how various cryptoassets are classified and treated from a tax planning perspective
• Give examples of how to advise clients and colleagues on practical ways and methods to account for and plan crypto taxes
• Define some of the best places to obtain more information and stay abreast of recent crypto tax changes

Prerequisites