Cryptocurrency Taxation: A Foundation for Advisors FLEXCAST
Available Until
Your Desk
2.0 Credits
Member Price $132.00
Non-Member Price $152.00
Overview
In the ever-evolving financial landscape, cryptocurrencies and blockchain technologies have transitioned from being a fleeting trend to becoming a permanent fixture, presenting new challenges and opportunities for tax, accounting, and finance professionals. With an estimated 50 million Americans poised to buy crypto in the coming year, understanding the tax implications of these transactions has become indispensable. This course provides a comprehensive solution to these challenges. It covers the ethical concerns of advising clients on crypto adoption, setting up cryptocurrency as a payment method, and using blockchain for smart contracts. The course also delves into the current outlook for cryptocurrency taxation, planning for reporting changes, and the foundational elements of cryptocurrency, equipping you with the knowledge to guide your clients through the complexities of cryptocurrency transactions and taxation.
Highlights
What is blockchain. Buying and storing cryptocurrency. Investors. Miners. Tax planning opportunities.
Prerequisites
None.
Designed For
CPAs, financial professionals, enrolled agents and attorneys.
Objectives
Understand the ethical concerns about advising your clients on crypto adoption. Evaluate setting up Cryptocurrency as a payment method. Explore the Blockchain use cases, specifically how it’s used for smart contracts. Understand the current outlook for cryptocurrency taxation due to the infrastructure bill. Plan for possible offset changes targeting cryptocurrency reporting. Gain familiarity with the foundational elements of Cryptocurrency. Understand how you buy crypto and store crypto securely. Be able to explain how to use services like Coin Tracker to track capital gains and losses. Learn about the new developments on the horizon. Explore the tax needs for cryptocurrency investors. Evaluate how taxes work for cryptocurrency mining. See and learn about the tax planning opportunities
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
Leader Bios
Shehan Chandrasekera, Western CPE
Shehan Chandrasekera is a Certified Public Accountant in the state of Texas and New Jersey. He specializes in business and individual tax planning and consulting for small businesses. Shehan has a broad tax knowledge of various industries including, Real Estate, Construction, E-commerce, Healthcare, Manufacturing & Distribution and the emerging Blockchain related industries.
Before starting his career at JAG CPAs & Co, Shehan worked for several regional and national public accounting firms for a number of years. His ability to dissect the tax code and innovative thinking have immensely contributed to his rapid professional growth. After a successful career helping many clients at different firms, Shehan pursued his lifelong dream of becoming an entrepreneur by joining JAG.
Shehan is also a published author. His recent article on “Virtual Currency and Tax Ramifications” was featured in “The Tax Adviser” magazine sponsored by AICPA. He was one of the first CPAs to have a published academic article on Cryptocurrency.
Shehan graduated from William Paterson University, NJ as the salutatorian of his graduating class. After migrating from Sri Lanka to New Jersey and spending a few years in the east coast, he moved to Houston to be close to his family. Aside from being an Accountant, Shehan enjoys rock climbing, spending time with his family and reading.
Non-Member Price $152.00
Member Price $132.00