Cryptocurrency Taxation: Nuts, Bolts & Tax Law Updates
January 29th, 2025 - January 29th, 2025 @ 1:00 PM-3:00 PM
| Member Price | $70 |
| Non-Member Price | $80 |
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Credits
2Description
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.
We will also cover current developments surrounding this topic, such as the updated version of the digital assets question on Form 1040, upcoming Form 1099-DAs, a series of chief counsel memorandums related to digital assets, Rev. Proc. 2024-28, and tax planning opportunities.
Objectives
Provide attendees with knowledge and understanding of the nature of cryptocurrency and related tax laws, in order to serve and advise clients who own these investments.
Major Subjects
· 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