Bitcoin Fundamentals - What Every CPA Should Know
Tuesday, January 02, 2024
Webcast or Webinar, Online
10:30AM - 1:30 PM (opens at 10:00AM) EST
3Credits
Technical Business
Registration is Closed
Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.
Members
$99.00 Regular Price
Non-Members
$144.00 Regular Price
Course Type: Webcast
Course Code: 23/CX35505
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Specialized Knowledge
Overview:
After more than 10 years in the marketplace, Bitcoin has been firmly planted in the global financial system as the de facto leader in the cryptocurrency market. Bitcoin is no longer looked at as a mystical concept of money made of pixie dust. Bitcoin has evolved to be a major force in the financial technology (FinTech) industry. With the collapse of the FTX cryptocurrency exchange, among others, it is important to understand how Bitcoin separates itself from all the other alternative cryptocurrencies, aka alt coins, as well as how you can protect your Bitcoin investment from these exchange collapses. As a CPA advising your clients on financial matters, it is imperative that you have a fundamental understanding of Bitcoin and how it all works and what distinguishes it from all the other cryptocurrencies. This course provides you with a solid base of Bitcoin knowledge so that you will be confident in having those client conversations, as well as participating in the Bitcoin ecosystem, including current tax implications. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.Objectives:
After attending this presentation you will be able to...
- Recognize the impact that Bitcoin and other crypto currencies are having on the global monetary ecosystem
- Identify the components of the Bitcoin ecosystem and how they all work together as a global crypto currency
- Recognize how you can participate in the Bitcoin ecosystem
Major Topics:
The major topics that will be covered in this class include:
- The evolution of money: barter, gold, paper, digital, cryptocurrency
- History of Bitcoin, how it originated and evolved to where it is today.
- How Bitcoin works: origin, network, nodes, miners, transactions and the blockchain ledger.
- Participating in the Bitcoin network: procuring, spending, accepting and storing Bitcoin.
- Understanding the role of cryptocurrency exchanges and the collapse of FTX.
- Introduction to Ethereum, a substantial alternative to Bitcoin.
- Income tax implications of Bitcoin and other cryptocurrencies.
Major Topics:
The major topics that will be covered in this class include:
- The evolution of money: barter, gold, paper, digital, cryptocurrency
- History of Bitcoin, how it originated and evolved to where it is today.
- How Bitcoin works: origin, network, nodes, miners, transactions and the blockchain ledger.
- Participating in the Bitcoin network: procuring, spending, accepting and storing Bitcoin.
- Understanding the role of cryptocurrency exchanges and the collapse of FTX.
- Introduction to Ethereum, a substantial alternative to Bitcoin.
- Income tax implications of Bitcoin and other cryptocurrencies.