You have completed only 0% of the video. Please continue watching the video.
Please don’t fast forward or alter the cursor of the video. You must watch entire video to get your CPE credits.

Before starting this self study progarm, please go through the Instructional Document.

Download

Course Details

Overview of Topics

  • Why Cryptocurrencies Have Value8 mins
  • Blockchain Technology40 mins
  • Cryptosphere49 mins
  • Mining53 mins
  • On-chain, Wallets, Exchanges56 mins
  • Taxation of Crypto58 mins

Course Description

Crypto compliance has been a hot topic among practitioners, especially with the IRS sending out 10,000 tax notices to taxpayers with crypto transactions, recently. Both practitioners and taxpayers are equally baffled by this new subject and looking for guidance from industry leaders. This session intends to give you a good overview of the cryptocurrency landscape and  compliance  and how to service clients with cryptocurrency transactions.

This webinar will help you in getting ready for this tax season to serve crypto clients and help them with tax planning.

Tax professionals will gain knowledge needed to have productive conversations about cryptocurrency with their clients without feeling overwhelmed. Blockchain technology and cryptocurrencies such as bitcoin and ether are two trending topics in the fin-tech world. Yet, few business professionals can grasp the intricacies, opportunities and challenges posed by this new technology. This session intends to give you a high-level, non-technological understanding of the history of the blockchain/cryptocurrencies, properties & characteristics of blockchain technology and the taxation of common blockchain related transaction

Learning objectives

  • Understand Why Cryptocurrencies have Value
  • Decode Blockchain Technology
  • Discuss Governance of Crypto-coin/tokens
  • Explain How Mining Works
  • Differentiate Between On-chain, Wallets, and Exchange Transactions

About Presenter

Jared Zemp is a serial FinTech/EdTech entrepreneur, seasoned executive, and veteran educator. He currently serves at the Executive Vice President of Revenue and Investor Relations for ProfitStance, a cryptocurrency tax accounting platform for tax professionals. He holds a degree in business from Brigham Young University and is a member of the faculty at LDS Business College. With six kids and a pug, most of his free time is spent cleaning something sticky off his shoes.

ProfitStance is an online, web-based software for professionals such as accountants, CPAs, and Financial Advisors who work with clients who own, trade, or invest in cryptocurrencies such as Bitcoin.

Review Questions

  • Question 1 : 00:12
  • Question 2 : 00:35
  • Question 3 : 00:55
  1. Which of the following events given below triggers a tax liability?
  2. Crypto capital losses can reduce the tax bills of your clients? Is this statement correct?
  3. As per the case study in this webinar, with the help of uniform data how much tax did Scott owed and what was the original tax calculated by the IRS ?
  1. Why most of the accountants are still unprepared for Cryptocurrency Taxation?
  2. How BITCOINS should be reported to IRS by an individual?
  3. Who was the founder of Bitcoins ?
  4. Blockchain is the universal public ledger of the bitcoin transactions made till date. Is this statement correct?
  5. A typical tax return of cryptocurrencies can take up to ___ hours to complete. Complete this statement with appropriate answer.

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.2
(387)
52%
28%
14%
3%
2%
  • RH
    Robert Hamel , EA
    Jan 30th 2020
    The webinars are terrific
RY
Richard Young , EA
The biggest problem is the extended pauses, sometimes as much as ten seconds before finishing a sentence. Really distracting. Almost seemed like he was concentrating on other things. At first I thought it was an internet problem, then realized that it was the delivery itself. Too bad because he's a great presenter, if he would only to get so distracted in his delivery.
KS
Kenneth SMITH , EA, EA
some of the information on the exam was not in the video or maybe I missed it
DB
Denise Banton , EA
Very informative! Thank You!
SD
Samuel Durden , CGMA, CPA
Good webinar up to date information
SD
Samuel Durden , CGMA, CPA
Good webinar up to date information

NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

IRS Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

On-Demand Webinars

Move up a Grade: Revision Guide
Monday, May 18, 2020 View Details/Register
Knowledge Performance Indicators (KPIs) for SMEs
Wednesday, May 13, 2020 View Details/Register
Business Performance Management
Wednesday, May 13, 2020 View Details/Register
The Theory of Constrainst and Lean Accounting
Tuesday, May 12, 2020 View Details/Register
THE MATHEMATICS OF ESTATE PLANNING FOR IRAS AFTER THE SECURE ACT
Friday, May 08, 2020 View Details/Register
The Accountant's Guide to Climate Change
Friday, May 08, 2020 View Details/Register
Professional Ethics for Accountants
Thursday, May 07, 2020 View Details/Register
Nebraska Ethics Principles and Conduct for CPAs
Friday, April 17, 2020 View Details/Register
MONTANA Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Massachusetts Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Maryland Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Executive Overview of Revenue Recognition (Topic 606) Exploring Both the Accounting & Tax
Wednesday, May 06, 2020 View Details/Register
Principles of Financial Statement Presentation
Wednesday, May 06, 2020 View Details/Register
Data Analysis 101 - Getting to the heart of performance data
Monday, May 04, 2020 View Details/Register
Performance Measurement
Thursday, April 30, 2020 View Details/Register
  • Cost FREE
  • CPE Credits 1
  • CE Credits 1
  • IRS Course ID GEHNZ-T-00061-19-O
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date March 06 ,2020
  • Published Date March 06 ,2020
  • Who should attend? Enrolled Agent CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm CPA (Industry) Young CPA CPA in Business
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

Move up a Grade: Revision Guide
Monday, May 18, 2020 View Details/Register
Knowledge Performance Indicators (KPIs) for SMEs
Wednesday, May 13, 2020 View Details/Register
Business Performance Management
Wednesday, May 13, 2020 View Details/Register
The Theory of Constrainst and Lean Accounting
Tuesday, May 12, 2020 View Details/Register
THE MATHEMATICS OF ESTATE PLANNING FOR IRAS AFTER THE SECURE ACT
Friday, May 08, 2020 View Details/Register
The Accountant's Guide to Climate Change
Friday, May 08, 2020 View Details/Register
Professional Ethics for Accountants
Thursday, May 07, 2020 View Details/Register
Nebraska Ethics Principles and Conduct for CPAs
Friday, April 17, 2020 View Details/Register
MONTANA Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Massachusetts Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Maryland Ethics Principles and Conduct
Friday, April 17, 2020 View Details/Register
Executive Overview of Revenue Recognition (Topic 606) Exploring Both the Accounting & Tax
Wednesday, May 06, 2020 View Details/Register
Principles of Financial Statement Presentation
Wednesday, May 06, 2020 View Details/Register
Data Analysis 101 - Getting to the heart of performance data
Monday, May 04, 2020 View Details/Register
Performance Measurement
Thursday, April 30, 2020 View Details/Register