• Crypto for Tax Pros

  • Jan 13 2025
  • Length: 1 hr and 9 mins
  • Podcast

  • Summary

  • 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/

    Review
    Leave a review on Apple Podcasts or Podchaser

    Subscribe
    Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

    This podcast is a production of the Earmark Media

    Show more Show less

What listeners say about Crypto for Tax Pros

Average customer ratings

Reviews - Please select the tabs below to change the source of reviews.