Episode: How to Account for Bitcoin

How to Account for Bitcoin

4/7/21

Cryptocurrencies look like they are here to stay. As financial advisors, it is becoming increasingly important that we educate ourselves on the functionality of cryptocurrencies like Bitcoin as our clients embrace them more and more. In this episode, Tom breaks down how the IRS views Bitcoin, the differences between cryptocurrencies, and the role we can play for our clients as these modern currencies become commonplace.

Episode Talking Points:

  • 03:22 – How does the IRS view Bitcoin?
  • 12:19 – Will Bitcoin be tracked by the government?
  • 15:11 – Is it important to distinguish between cryptocurrencies?
  • 19:53 – The role we play as advisors to our clients.
How to account for Bitcoin

Recent Episodes

Eliminate Negativity for Good with Anthony Iannarino

Eliminate Negativity for Good with Anthony Iannarino November 16, 2023 WealthAbility for CPAs #110 – How do we get rid of toxicity in the office?...

Moore Case Analysis with Garrett Watson

Moore Case Analysis with Garrett Watson November 02, 2023 WealthAbility for CPAs #109 – Moore v United States may have major ramifications on CPAs...

Connect With Clients with Julien C. Mirivel and Alex Lyon

Connect With Clients with Julien C. Mirivel and Alex Lyon October 18, 2023 WealthAbility for CPAs #108 – Taxes are often anxiety inducing for our...

More From Tom

Weekly Report

Tom's Best Selling Book