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Thursday, November 21, 2024 Live Webcast

Donating Cryptocurrency and Avoiding Traps for the Unwary (X2-50720)

3:00 PM - 5:00 PM EST
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

As the digital asset market continues to mature, more taxpayers may be contemplating blessing their favorite charitable organizations with gifts of cryptocurrency. Beneficiaries unfamiliar with digital assets may find it challenging to properly report any of these types of donations.

DESIGNED FOR

This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency. All in-house and public practice p

BENEFITS

After attending this presentation, you will be able to...

  • Recognize what constitutes digital assets.
  • Determine the differences between cryptocurrency and NFTs.
  • Identify the IRS forms needed to report digital asset contributions.
  • Calculate the value of the contribution.
  • Compare differences in required substantiation based on the amount of the contribution.
  • Recall the latest rulings by the Treasury Department and courts on these contributions.

 

HIGHLIGHTS

The major topics that will be covered in this course include:

  • Intro to digital assets
  • Differences between cryptocurrency and non-fungible tokens (NFTs)
  • IRS Notice 2014-12
  • Tax implications of contributing digital assets
  • Gift tax rules for donating, gifting or bequeathing cryptocurrency and NFTs.
  • Substantiating charitable contributions of digital assets
  • Traps for the unwary.

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

This webinar is hosted by NJCPA's partner, CPA Crossings, LLC. After registering, you will receive an email from messenger@webex.com with the log-in information. If you do not receive this email you can contact CPA Crossings, LLC at (877) 370-2220.

INSTRUCTOR

Allison McLeod

Allison M. McLeod, CPA, LL.M., J.D.

Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas. She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England.

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod teaches at the university level graduate classes on Ethics, Tax Research and Corporate Income Tax. She also lectures in Financial Accounting and Individual Taxation on an undergraduate level. She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC. Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation. She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses. Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty. She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.

PRICING

$79.00 - Member

$89.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

CPA Crossings

AREAS OF INTEREST