The overall market capitalization of cryptocurrency assets dropped below $1 trillion from its November 2021 peak of $3 trillion. With recent events like the collapse of Terra Luna & TerraUSD (UST) coins, and Celsius, Voyager, and other platforms pausing withdrawals, many digital asset holders are wondering what their cryptocurrency taxation strategy should be to take advantage of tax write-offs based on their accrued losses. This course will cover the mechanics of various types of tax losses (capital losses, nonbusiness bad debt, casualty losses, theft losses, Ponzi losses, worthless security, abandonment losses) and how they may be applied to cryptocurrency taxation and other digital asset related transactions.
Capital Losses. Nonbusiness Bad Debt Deduction. Best Practices.
CPAs and other tax professionals.
Accurately identify and categorize various types of losses related to cryptocurrency transactions. Understand the tax implications of those transactions. Evaluate the pros and cons and best practices for deducting losses on your tax return.
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Shehan Chandrasekera, Western CPE
Shehan Chandrasekera is a Certified Public Accountant in the state of Texas and New Jersey. He specializes in business and individual tax planning and consulting for small businesses. Shehan has a broad tax knowledge of various industries including, Real Estate, Construction, E-commerce, Healthcare, Manufacturing & Distribution and the emerging Blockchain related industries.
Before starting his career at JAG CPAs & Co, Shehan worked for several regional and national public accounting firms for a number of years. His ability to dissect the tax code and innovative thinking have immensely contributed to his rapid professional growth. After a successful career helping many clients at different firms, Shehan pursued his lifelong dream of becoming an entrepreneur by joining JAG.
Shehan is also a published author. His recent article on “Virtual Currency and Tax Ramifications” was featured in “The Tax Adviser” magazine sponsored by AICPA. He was one of the first CPAs to have a published academic article on Cryptocurrency.
Shehan graduated from William Paterson University, NJ as the salutatorian of his graduating class. After migrating from Sri Lanka to New Jersey and spending a few years in the east coast, he moved to Houston to be close to his family. Aside from being an Accountant, Shehan enjoys rock climbing, spending time with his family and reading.
Non-Member Price $56.00
Member Price $49.00