Virtual Currency Taxation ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $145.00
Non-Member Price $167.00
Overview
Most virtual currency transactions involving a sale or exchange will have a taxable outcome. In the Virtual Currency Taxation course, we describe the basics of virtual currencies and then delve into the cost basis of virtual currency, followed by the tax status of a number of virtual currency transactions. These transactions include virtual currency paid for services rendered, exchanges of property for virtual currency, charitable gift situations, and airdrop distributions. The course also covers IRS transaction recordation and reporting requirements.
Highlights
Virtual currency basics. Investing in virtual currencies. Taxation of virtual currency transactions. Transaction recordation. Transaction reporting.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
Specify the characteristics of virtual currency. Recall the characteristics of a cryptocurrency wallet. Specify how the proof of work method functions. Recall how virtual currencies are taxed when they are sold, exchanged, or otherwise disposed of. Identify the self-employment tax issues related to virtual currency payments made in exchange for services rendered.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $167.00
Member Price $145.00