MASTERING CRYPTO COST BASIS:
Understanding the Rules and Regulations
with
A CPE webinar by
Calculating cost basis for crypto assets gets complex real quick.
Does this scenario sound familiar?
You purchase some BTC thinking, “Piece of cake – I’ll just take the purchase price, add transaction fees, then that’s my cost basis.”
Not so fast…
You realize the exchange you purchased the asset from isn’t required to issue you a 1099-B, so you need to track your cost basis yourself.
“Uh, how am I supposed to document that?”
Which method should you use to identify your cost basis: FIFO? LIFO? Cost Averaging? Spec ID?
Then, you send your BTC to a different wallet and exchange it for ETH – what’s your new cost basis?
Multiply this scenario by a thousand transactions across a dozen or so wallets, and you’ve got a big mess to sort through.
Come master crypto cost basis with Gilded and Multisig Media in our FREE CPE webinar!
We'll get into:
- Best practices for enterprise-level cost basis tracking when 1099s are not legally required from crypto exchanges (yet)
- Crypto accounting tools and the requisite tech stack to equip your practice and clients for success.
- Gilded’s CryptoAdvisor Program, educational opportunities, and additional digital asset resources for accounting professionals.
After this course, learners should be able to:
- Identify cryptocurrency-related regulations proposed by the 2021 Infrastructure Bill and how they apply to the issuance of 1099-B brokerage statements.
- Recognize the IRS’s current classification of cryptocurrency and the tax implications of buying, selling, trading, and holding cryptocurrency
- Recall how to report cryptocurrency transactions on tax returns, including capital gains and losses.
- Identify record-keeping requirements for cryptocurrency transactions as it relates to cost basis.
Thursday, February 23rd, 2023
PST: 10:00 am - 11:00 am
EST: 1:00 pm - 2:00 pm
CPE Info: 1.0 Credit (Tax)
Program Level:
Basic
Prerequisites:
None
Preparation:
None
Delivery:
Group Internet Based (Webinar)
Your speakers for this webinar
Join two CPAs for a discussion and Q&A about enterprise-level cost basis tracking for crypto assets.
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Alyssa Rambeau, CPA
Head of
Accounting Strategy
Gilded
As Gilded's Head of Accounting Strategy, Alyssa brings her 20+ years of accounting and reporting experience to the blockchain. Her love for numbers and technology came together with the chance to build a better accounting solution for her crypto cohorts. Since joining the team, she has worked hand and hand with both customers and developers and is now on a mission to educate today’s professionals about doing business in web3.
Alyssa has a Bachelor Science degree in Accounting from Southeastern Louisiana University and received her Master of Business Administration from the University of New Orleans. She is a member of the Louisiana Society for CPAs and the Wallstreet Blockchain Alliance and she serves as Treasurer on the boards of several community organizations. She recently joined the founders list of the Nieux Society, New Orleans’ first NFT community exploring the promise of web3 to empower the creative culture of the city.
Nik Fahrer, CPA
Senior Manager, National Tax Professional Services Group
Forvis
Nik serves as a national tax senior manager in FORVIS’ National Office. In that capacity, he assists with the implementation and support of the firm’s technology and growth initiatives.
Nik has cryptocurrency, NFT, and Digital Asset experience and is the leader of FORVIS’ Digital Asset Tax Team. He is also a member of FORVIS National Commercial Services Group and provides sophisticated income tax compliance, consulting, and planning services to multistate businesses.
Nik is a member of the American Institute of CPAs while maintaining active CPA licenses in Colorado, Indiana and Texas.
He is a graduate of University of Evansville, Indiana, with B.S. degrees in accounting and management
information systems.