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

Planning for Success with Dan Gardner

Planning for Success with Dan Gardner March 8, 2023 Are your plans working out for you? Or do you find them working against you - costing you time,...

Tell Your CPA Story with Justin Breen

Tell Your CPA Story with Justin Breen February 9, 2023 How can we CPAs find and attract the best clients for us? Is there a way we can only work...

2023 Tax Changes with Garrett Watson

2023 Tax Changes with Garrett Watson January 12, 2023 It's important to prepare ourselves for the future, so we can better help our clients traverse...

More From Tom

Weekly Report

Tom's Best Selling Book