Crypto for Tax Pros

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Federal Tax Updates

Roger Harris, EA and Annie Schwab, CPA

72 episodes

2 days ago

CPAs, Enrolled Agents, and Tax Preparers can keep up-to-date with the latest federal tax information while earning NASBA approved CPE credits and IRS approved CE credits by listening to the bi-weekly Federal Tax Updates podcast. The hosts Roger Harris and Annie Schwab have over 75 years of tax experience between them, which has been featured in various media outlets including Wall Street Journal, USA Today, The Morning Business Report, Bloomberg Business News, and Accounting Today.

All content for Federal Tax Updates is the property of Roger Harris, EA and Annie Schwab, CPA and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Crypto for Tax Pros

Federal Tax Updates

1 hour 8 minutes

10 months ago

Crypto for Tax Pros

Crypto tax expert Amir Marmar of JFDI Accountants breaks down the complexities of cryptocurrency taxation and shares guidance on when tax professionals should handle crypto cases themselves versus partnering with specialists. He explains key concepts like wallet-level reporting requirements coming in 2025, the challenges of DeFi and staking transactions, and why traditional tax software may not be enough for complex crypto cases. This episode provides practical insights for tax professionals on evaluating crypto clients and understanding the latest IRS guidance, including Revenue Procedure 2024-28's move away from universal accounting methods.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:56) - Amir Marmar's Background and Expertise
(03:04) - Crypto Accounting Challenges and Success Stories
(07:49) - Crypto-Friendly Government Policies
(14:06) - Understanding Crypto Wallets
(23:36) - Blockchain Basics and Tax Implications
(29:38) - Complexities in Crypto Taxation
(37:19) - Understanding Lending Protocols and Tax Implications
(39:24) - Exploring Staking and Its Tax Considerations
(41:11) - Liquidity Pools and Market Making
(43:01) - Challenges in Crypto Accounting
(44:11) - IRS Guidance and Tax Positions
(46:02) - The Role of Tax Professionals in Crypto
(49:39) - Steps for Successful Crypto Tax Engagements
(52:50) - Upcoming Changes in Crypto Tax Reporting
(01:04:53) - Contacting JFDI for Crypto Tax Help

Connect with Amir
https://www.jfdiaccountants.com/
https://www.linkedin.com/in/amir-marmar-20b76726

Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.

Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

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This podcast is a production of the Earmark Media