Podcast appearances and mentions of kirk phillips

Episode 345 of the Football Fitness Federation Podcast is with the 1st Team Sport Scientist at Sparta Prague Kirk Phillips We discussed: ▫️Match Day Priming ▫️How data informs practice ▫️Moving clubs ▫️Considerations when moving abroad & much more! You can connect with Kirk on Linkedin Keep up to date with the amazing work our sponsors are doing here:⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Hawkin Dynamics - https://www.hawkindynamics.com⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Good Prep - https://thegoodprep.com⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Discover the power of nutrition at WWW.THEGOODPREP.COM and use code FFF15 for 15% off your first order⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Bridge Athletic - www.bridgeathletic.com⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Hytro - hytro.com⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Maximise your athletic potential with Hytro BFR. Easier, safer and more practical BFR for squads to prepare for and recover from exercise than ever before.⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ Click the link [[ https://bit.ly/3ILVsbU ]]⁣ ⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Join our online community & get access to the very best Football Fitness content as well as the ability to connect with Sport Scientists and Strength & Conditioning coaches from around the world.⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ To get FULL access to all of these & even more like this, sign up to a FREE month on our online community at the link below.⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ www.footballfitfed.com/forum/index.aspx⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ Keep up to date with everything that is going on at Football Fitness Federation at the following links:⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣⁣⁣⁣ ⁣ ⁣ X - @FootballFitFed⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ Instagram - @FootballFitFed⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ ⁣⁣⁣⁣ Website - www.footballfitfed.com

This podcast conversation with digital asset specialist Kirk Phillips, CPA, CMA, CFE & CPB, Managing Director — Global Crypto Advisors, focuses on demystifying IRS Rev. Proc. 2024-28, which provides guidance on transitioning from universal basis tracking for holders of digital assets and a safe harbor deadline of Jan. 1, 2025, to determine how to allocate any unused basis in digital assets. Phillips shares recommendations for tax practitioners around communicating with clients and the need for careful planning and documentation to meet the safe harbor provisions. What you'll learn from this episode: Understand more about Rev. Proc. 2024-28 and what it means for holders of digital assets. Hear about the safe harbor provisions provided in the revenue procedure. Learn the importance of the Jan. 1, 2025, deadline for making a reasonable allocation of unused basis. Find out about the challenges of documenting and reconciling cost basis related to digital assets. How to communicate and prepare individuals and businesses for the upcoming changes related to reporting of digital asset transactions.  AICPA resources Digital assets and virtual currency tax guidance and resources — Sharpen your tax knowledge on digital asset and understand the tax complexities and strategies involved with virtual currency and cryptocurrency. AICPA advocacy resources AICPA makes recommendations for digital asset transactions regulations, March 7, 2024 Other resources Rev. Proc. 2024-28 — Guidance to allocate basis in digital assets to wallets or accounts as of January 1, 2025 Final Regulations 2024-07-09 — Gross proceeds and basis reporting by brokers and determination of amount realized and basis for digital asset transactions Transcript April Walker: Hello everyone, and welcome to the AICPA's Tax Section Odyssey podcast, where we offer thought leadership on all things tax facing the profession. I'm April Walker, a lead manager from the tax section, and I'm here today with Kirk Phillips. Kirk is a CPA and it has a lot of other designations behind his name. But he's also more importantly for today's discussion, a specialist in the world of digital assets and crypto. [He's] been in it for a long time. Our goal today, Kirk, is to demystify some of this latest guidance that we've gotten from the IRS. We're definitely not going to be able to demystify all of it in the time we're just going to spend today. But there are some important deadline related items, so we want to make sure we're covering those. Kirk is on the AICPA's Digital Asset Tax Task Force. And for the past few months, we've actually been meeting weekly, which is unusual for a task force. Because really we've been discussing one thing, Revenue Procedure 2024-28. What it actually said, what it meant. Just really delving into that, the details of all of that. That's going to be the topic of what we're going to talk about today. What that means for tax practitioners and holders of digital assets. Especially like I said, there are deadlines around this safe harbor. Kirk, to start off. Welcome. Let's talk about I mentioned the deadline and let's talk about the significance of that January 1, 2025 deadline for making that reasonable allocation of unused basis. That's what the Rev Proc says. Talk to us a little bit about what that means, what you're thinking about, what practitioners should be doing now to prepare for that date. Kirk Phillips: Sure. Thank you so much April for having me on the podcast. I love talking digital assets and crypto, whether it's tax-related or otherwise. I'm excited to help demystify this Rev Proc. One of the key things here is that and why this is so important is we both have a short timeline. Because we're already nearing the last quarter of the year 2024. It's also very challenging - it's a onetime exercise that we have to go through and on a short timeline. That's why this is critical and that's why we're here today to talk about that. One of the key things here is that prior to this Rev Proc that the taxpayers would do their accounting for the digital asset transactions, which would be their trading or their sales, and it could be other related transactions as well. But basically they would do all the accounting on a universal basis. The question is, what does universal basis mean? Universal basis means that whether you have one wallet or one exchange account or you've got 37 wallets and six exchange accounts or even something more crazy than that, you would for the most part, more than 99% of the time people would use specialized tax software because that's really the only way to get the job done. You would connect all those things and or import your transactions into the software and it would essentially co-mingle all those transactions. I like to say as if it was one wallet or as if it was a single exchange. But it's not simply for the tracking purposes, all the transactions are simply dumped together and you perform one set of accounting. That's what the universal [method] is. Now, you can no longer use universal. You have to do a wallet by wallet, account by account basis. Which means that if you, again using those same numbers I did in my example there. If you had 37 wallets, that means you essentially have to do 37 different sets of accounting for those. I think that without knowing even anything more about it, an accountant hearing that would say, "Wow," immediately that sounds like that could be challenging, that could be a lot more work, and so on. There could be issues around that. And all those things are true. Because of this short timeline between now and the end of 2024 and essentially we're talking here at the end of September, so we got one-quarter left to do this. The important thing here is if you have any channels to communicate with your clients, the first thing to do would be to communicate with them and let them know, "Hey, there's this Rev Proc 2024-28." Maybe, perhaps even provided a link if you want to, and or read that yourself in detail at least once. But there's a lot of other things that you can lean on in AICPA guidance, of course. But just to send that out, in other words, you don't have to know it in detail before communicating. You should start the process communicating right now to say, "Hey, there's a lot to unpack here. I'm just letting you know there's going to be more that's coming. Be on the lookout. We're going to do a series of blogs on this or whatever it is you do or a newsletter, segments, and things like that. I think that's probably the number one thing to start off with is start the communication now, because this is not a one-shot communication thing. This is a series of communications that you're going to need to do. Whether you're just providing value to non-clients or you're working with current clients, you're going to need them to be thinking in steps and increments along the way. April Walker: Yeah. That's a lot of what we've been talking about over the past couple of months. Who this actually applies to you and who needs to really take notice of this? I think that's a great suggestion. Our listeners might be thinking, "Hey, I didn't know that we are not allowed to use universal method of basis allocation anymore. Did that come from the revenue procedure or where did that come from?" Kirk Phillips: Well, that actually came from the digital asset broker regulations. But then what happened is in the process of those becoming final and the fact that universal [tracking] comes to an end. And we have to do the wallet by wallet approach. What arises from that is a onetime exercise of how do we get from one thing to the other thing? How do we get from point A to point B? April Walker: The Sec. 6045 regs, which are long and complicated. Again, like Kirk said, we'll continue to create resources around all of this information because it's a lot to unpack. In the revenue procedure, it talks about a safe harbor. As we're transitioning between universal and wallet by wallet, the procedure provides a safe harbor. Let's talk about what are the key criteria that qualify you for using that safe harbor and give some of the requirements for it and so talk a little bit about that. Kirk Phillips: Sure. That's one of the big things here is what are those key criteria for the safe harbor? Of course, another thing is we're wondering what is it actually a safe harbor from? There's going to be more to come on that. Because that's actually not super clear and usually that is when it comes to safe harbor. The critical things here are that you have two methods that you can follow in this universal transition process. From universal cost basis tracking. In that transition process you can use a specific units method or you can use a global allocation method. In either case, you need to do some work before the end of the year arrives at 12-31-24, or before January the 1st, whichever way you want to say that. Those two methods are two distinct ways of doing it. You might say that the global allocation method is more straightforward and less work or less complicated. But let's just unpack those briefly. There's more to dig into on these, but this is a brief touchpoint. Let's start with global allocation. Global allocation, I like to think of it as more like a recipe. There's more than one way to get the "cake baked". Because you've got your grandmother's recipe and you've got your own style and you've got things like that and things in the cookbook. So you can arrive at a different cake, but if you follow the recipe, you're going to get the same cake. Basically, another way I like to say it too, is if you come up with a global allocation, which is simply saying, "You know, what I want to do is I want to allocate my Ethereum, my ether. And I want to take some low-cost basis. Maybe you could say, "I want to use my oldest cost basis and I want to apply it to my oldest wallets." For Bitcoin, I had only two Bitcoin wallets and one of them, it's only collected Bitcoin, received Bitcoin, it hasn't sold any. Say, you want to allocate maybe what's already there. Whatever it is, you're really defining a process. You're not actually going through with the process, you're simply defining it. The key distinction about global allocation is, if you define the process and if you were to give it to, let's say another CPA, they will come up with the same answer. If you give it to CPA A, CPA B, or CPA C, they should all come up with the same answer. It's very systematic. That's the distinction there. Now with the specific units, it's simply user's choice. Like in baseball, it's a fielder's choice. It's user's choice. It's however you want to allocate it specifically. Again, you have to follow the date. You can't break the date in the basis or a specific lot based on the date that it was purchased. You can't break that up. At that level that's as granular as you can get. If there was a lot or a tranche of Bitcoin or whatever, AVAX, or just pick your favorite coin and that was purchased on a certain date. You can't break up the date because the date piece has to be maintained and be consistent. Anyway, that's really just a user's choice scenario. That's the difference because you can't give that method to three other CPAs and have them come with the same result because that's not what it is. It has nothing to do with following a process. It's simply just a user's choice. Now the key thing on the dates there is that the specific units method has to be conducted and finalize before the end of the year, before the last day of the year. With the global allocation method, you just need to come up with the formula for doing it by the end of the year. But you actually can apply the formula to get the allocation after that. That's a super important point right there. Under global allocation, you also have until either the original due date or even the extended due date of the tax return if you did not conduct a transaction. The key is not having any transactions. You've got to put a halt to your transactional activity until you apply the global allocation method. But it does buy you more time to do it. You just gotta be careful because that's how you could throw off the safe harbor. And ruin the safe harbor if you don't put a halt to the transactions before doing the allocation. April Walker: You mentioned in one of our discussions is about what is this a safe harbor from? Based on our best discussions and where we think we are now, what do you think about that? What is it a safe harbor? What is our alternative if we blow this safe harbor. Kirk Phillips: That's a great question. It looks like it would be a safe harbor prospectively from this day forward or the end of the year exercise that we're talking about forward. We're not sure about retroactively. It mentioned if you don't follow the safe harbor, you can incur penalties and interests. As I recall that's about as deep as it goes. You could draw an inference from that and say, if I don't follow the safe harbor, does that mean that all of my transactional activity, all my reporting for the prior years could be recast and recalculated under different cost basis method. And therefore end up with a different tax liability than you originally calculated. Those things can be worst-case scenario. We just don't really know. April Walker: Usually when you have a safe harbor, you have rules of what to do and how to document that you have met that safe harbor. Again, things we've struggled with. Seems like a simple question right? But I'm telling you a lot of smart people in the room, this is not a simple question.  Kirk, as we know it now, what types of documentation do we think will be good enough to substantiate that we have met that safe harbor as of 1/1/25. Kirk Phillips: That's right. You could actually take an action. You could perform your allocation, and you could do this all before the end of the year. The question is, how do you prove that you've done it before the end of the year? People have talked about, well, you could have files saved that because you can look and see what a file date is, the modification date of a file. But then you could also later open up the file, not even change anything but potentially open a file, change the modification date. If that was something that is being looked at, then that could be an issue there. This is really where it comes into use in your CPA skills to figure out what's a good way to document. We're already good at that. Even in the world of not knowing, you can come up with "well I think I should do this" to document. One of the things is if there's a way to send an email to yourself. Time stamping on emails is one way to do things like that. Just in the larger world of documentation. Like I said, everybody is relegated to using specialized crypto tax software. You might as well say everybody uses crypto tax software. Then the question is, which one do you use? Because they're all different. They all have issues and so on. But hopefully regardless of the software, it would allow you to export an end of the year holdings report or an inventory report. That's essentially what it is because the data is in the software and if that's going to be one of the key things is, can I get that report? Let's just assume that you do. The first thing you do is to export that report. That's going to be the basis and the starting point for doing an allocation. Let's fast forward just a second. Let's say you go through the allocation however long that happens and let's say you're done. For example you could say, let me attach that file now. Again, figuring out how do you document. You could attach that file in an email or you're copying [yourself] with your client and maybe there's other members in the firm as well. Maybe there's a specifically designated digital asset person who want to get copied. But nonetheless, that would create an email timestamp on it and that document is attached to it. That's one way that you can actually document that these things were done ahead of time. I guess if we want to dive into documentation further again, I was talking about that inventory being a starting point. Regardless of whether you use this global allocation that we spoke about or specific units allocation. You would need to take the starting point of the ending balances or the inventory and then you need to take your wallets. Then you need to then allocate the basis that's in the wallet. Because remember it's on a universal basis. Now you're trying to allocate it on a wallet by wallet. You then need to go through it, but it's difficult to describe it without seeing a visual. But basically you would allocate all of the inventory that starting to all of the current wallets that you have. Again it depends on what method you're using. But at the end of the day, what you're trying to achieve is you want to get a proof. We all love proofs, and this is one way to do it. What's the proof? The proof is the check total. It could be a check total per asset, for example that you've allocated all the Bitcoin, you've allocated all the ether, you've allocated all the Solana, the AVAX, the whatever. You've allocated everything so that the check totals on the top match the check totals on the allocation. That's how you know that you've done it and it is complete and correct. Is by doing the methodology that is like that. Because if you don't do that then there's really no way to know that it's complete. You got to have checked totals and arrive at the same numbers and then that's how you do it. Again it can be challenging because it's depends on what's the quality of the data that you're starting with. One of the big challenges is I think all the software has different types of issues, limitations, certain features some have that others don't have and things like that. The first thought might be from the accountant mindset oh, if I split this inventory report out it's accurate. But the thing is, it's most likely not accurate. There's going to be issues with it. You're actually starting with something that's not solid in the first place, which creates a whole other set of challenges. But we can't dig too far into that one right now. April Walker: I was just went back into my way back machine and I was doing proofs and doing double underlines and I was getting really excited. I think that's a great point. If you are using software for yourself or for your clients, you need to, just like with everything we would say, you're not printing it out and then just putting it in a file or somewhere and never looking at it again. You got to make sure that it's not garbage in, garbage out situation. Again, lots of potential steps in this seemingly simple, allocate your basis comment. Another thing we've talked about is the role of brokers. Because eventually in the years to come, I'm sure you're aware, there's going to be in a form 1099-DA. And there's going to be reporting of digital assets and then hopefully there's going to be at some point, [cost] basis on those forms. Again, happy little world the basis is going to be equal to what you think it is and everybody's happy. I think we know that it's going to be much more difficult than it sounds, but let's stay simple for the moment. Let's talk about how that revenue procedure 2024-28 impacts how a broker might communicate with your clients regarding interactions with brokers and how this might be a help eventually. Kirk Phillips: That's all a great question and it's interesting how just the broker side of things, what were the centralized digital assets exchange. Because that's what we're talking about. It's just the two ways of saying it. But just to be clear what we're talking about because we have decentralized exchanges. Then the other side of that is the brokers and the centralized exchanges. And so that creates a whole another set of unique things and considerations with the brokers. And how they're going to report basis because they're the ones that are required to do it right now. We don't have it on the self custody side. I guess the overarching thing is you could end up with perpetual mismatches. And when I say perpetual, they could go on forever - definition of the word. But it could go on for a very long time. Just to make a point there, you have a perpetual mismatch between what you have been tracking with your crypto tax software and what the broker actually has on file. If it was Coinbase, for example, Coinbase and the assets that are on Coinbase were actually purchased there. Coinbase is going to have a record in that scenario. Then your tax software may have under the universal method have already spent some of that basis. Because again, those transactions are treated as if it was all one big wallet. You've got a mismatch off the start, even if you do a proper allocation on your own side, you may not even know what the broker has. So the question is, how can you communicate with the broker and let them know? The centralized exchange services or these brokers, they can receive user provided basis, but they're not required to, but they may accept it. If you have some that accept it, that may be one path that you could try to match up what you have from your allocation and communicate that to the broker so it matches up. But again, that's not going to be perfect because not every centralized exchange is going to do that. Only some of them are. Even in cases where they do provide that as a courtesy to their customers, that's not a magic wand either. If there's other things that can happen there, we could get into the weeds further on that. But one of the things is when you transfer in tokens to a broker, that they don't have any cost basis there. Again, if you wanted to report it because they're accepting it, yes. Otherwise they wouldn't have the information. There's just no way for them to know. If you think about the different assets that they may have in your account, they're going to have some that they know the basis for which would be the ones that you traded with them. Then they're going to have other transferred in assets from customers and they're not going to have any basis information on that. That just exacerbates the issue of what basis they have, what information they have and what's getting reported. You're going to have basically you could have 1099-DAs and so on that get reported on your behalf or the basis information is not correct. I think you know what is going to happen in those cases. You can imagine the challenges of trying to reconcile. That's what it was going to come down to is creating a really challenging reconciliation process with what the broker reported and the software with the software not really having features enough to give you reconciliation, the ability to reconcile to the degree that we're talking about. April Walker: We've talked a little bit about there are times certainly where you get it 1099-B and the basis that the broker reports, doesn't match for this or that reason? It can be inherited and who knows a couple of different scenarios. But generally, you can rely on what the basis is. I'm not sure that's going to be the case in this situation. But again, we're just scratching the surface on some of these complex issues. More from an issue highlighting, you can recognize that this is coming. Kirk, This has been great, we've covered a lot of great information, gives us some good takeaways as we're wrapping up listening to this podcast and what can practitioners do in the next quarter coming up or then as they're starting working on a 2024 tax returns. Kirk Phillips: Yes, I've got some great key takeaways and key points here. Then again, these things will be some of the stuff that I was suggesting in the beginning where you incorporate it into your blogs and newsletters, etc. This ongoing communication that's going to be critical. One of those could be strategically setup and tee up this allocation process in such a way that it is less complicated and has less issues. There's really going to be a strategy that could alleviate some of that. It's not relegated to whatever challenging process is going to be for any specific client. One way you can do that as potentially consolidating wallets. If there's an example, like I said, the client that's got the 37 wallets and the six exchanges. You can consolidate those down. Now whether it whittles down to a single wallet, probably not, with that many for various different reasons. But if you could go from, say, 37 and six, what's that? Forty three. If you go from 43 and you're able to whittle that down to say four or five. You're automatically going to have less challenges and the less complicated allocation process. Really strategically consolidating assets and wallets is one way that could make this process easier. And then also similar and in conjunction with that could be to take the assets off the exchange. Because again, if you don't have the ability to communicate with that particular broker because they're not receiving user provided information. If you take the assets off the end of the year, and then you put it back, they're going to have a zero basis. Again, that's its own issue, but I think it's the lesser of the evils, if you will. It's a better scenario for them to have a zero basis because then you're going to report something for it. Rather than they have some number and you have some different numbers. It's kinda like cost basis cleansing and you could call it that. The other thing here is the third key takeaway. I talked about all crypto software has limitations and challenges and issues, all different from one another. You really need to know [whether the software can help]. For example, if a software provider is going to provide some tooling to be able to help in this process, they may actually provide it to the user. And say, hey, you could just click a box here and we're going to lock down the inventory. Then we're going to do this reallocation for you and you think to yourself, that's great. I don't have to do any of the work, but you're still going to need to check that. You can't just rely on that. Then furthermore, if there is anything [available] like that, the question [comes] back to safe harbor. Does just checking a box, is that an action that proves that I took an action, a timely action, and allows me to be in the safe harbor or not. I think one of the best takeaways is, regardless of any of these pathways, is that you got to have a workpaper of some sort. And it says, I examined this. Here's a work paper that shows I did the work. Because it's one of the things that the software doesn't lock down the previous inventory. Find out what software the person uses. Because you may know or you may not know. It depends how you work with the client. [You need to] really understand what is that software provider doing to handle this. That's another key thing. This is really a big, interesting brain teaser for CPAs who were in the digital asset space. April Walker: For sure and we appreciate you taking a walk with us down, at least to start or the path and more to come. Kirk, this first time you've been with me on this podcast. We call it Tax Section Odyssey. We think of it as an Odyssey, a journey toward a better profession. In doing that, I like to get a glimpse of my guests other journeys outside of the world of tax. What's something on your travel bucket list? Something you have planned. Give me something to add to my bucket list. Kirk Phillips: Yes. I will be going to Orlando in about a month to see my sister and I don't get to see her much. But one of the things I like to do is backpacking. I am involved with Scouts and I discovered backpacking in 2021 for the first time. I just love going on the Appalachian Trail and all different kinds of trails,  whether it's with Scouts or other things. That's one of the things I like to do a lot. April Walker: Nice being outside and in nature and there's some beautiful places to hike for sure. You'll have to share some pictures from your hike when you're back with us. Thanks again, Kirk. This was very informative for me, as it always is. I didn't give a shout out to our digital asset page, but I will certainly put it on the resources. Again this April Walker from the AICPA Tax Section. This community is your go-to source for technical guidance and resources designed especially for CPA tax practitioner like you in mind. This is a podcast from AICPA and CIMA together as the Association of International Certified Professional Accountants. You can find us wherever you listen to your podcasts and we encourage you to follow us so you don't miss an episode. If you already follow us, thank you so much and please feel free to share with a like-minded friend. You can also find us at aicpa-cima.com/tax and check out our other episodes, as well as getting access to resources mentioned during this episode. Thank you so much for listening. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

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Have you noticed digital works of art with names like Cool Cats, CryptoPunks, and Bored Ape Yacht Club while surfing the web or posting a snarky tweet? They're all examples of non-fungible tokens, or NFTs, unique digital assets serving as certificates of authenticity for digital products including works of art, music, and collectibles. NFTs are also a surging new industry, expected to reach global sales of $80 billion by 2025. Despite this booming market, state revenue agencies haven't figured out how to tax or even characterize these digital assets. More than 30 states arguably have authority to collect sales tax on NFTs, but none of them have issued guidance on the subject. Bloomberg Tax took a deep dive into how states might choose to tax NFTs by speaking with two professionals steeped in digital economy tax issues. Wendy Walker, a solutions principal at the tax software company Sovos, talked about the evolution of blockchain technology and the tax treatment of products and services living on blockchains. Kirk Phillips, a member of the American Institute of CPAs' virtual currency task force, focused on the challenges associated with imposing state sales taxes on NFTs. Wendy and Kirk spoke with Michael Bologna, a senior reporter at Bloomberg Tax covering state and local taxes. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Presenters: Erik Asgeirsson, President & CEO CPA.com Amy Miller, Sr. Manager, Tax Policy & Advocacy AICPA Mark Peterson, EVP, Advocacy AICPA Kirk Phillips, Managing Director Global Crypto Advisors Lisa Simpson, VP Firm Services AICPA   Topics: Profession & DC Update IRS Actions/K-2/K-3 Preparation New Crypto Guidance & Tax Reporting Key Insights on the February 17, 2022 #AICPATownHall: CPA.com CEO and President, Erik Asgeirsson and AICPA's EVP of Advocacy and Tax Policy Senior Manager Amy Miller, JD, CPA, discussed the latest from DC including current AICPA Advocacy work, AICPA testimony at Senate Finance Committee hearing and an important update on relief coming for schedule K-2 and K-3 reporting. AICPA's VP of Firm Services, Lisa Simpson, CPA, CGMA, provided an update on PPP and answered top ERC questions. Kirk Phillips, CPA, CGMA, TheBitcoinCPATM and Managing Director at Global Crypto Advisors joins to provide insight on new guidance around crypto and tax reporting.

Kirk Phillips, aka the TheBitcoinCPA, is an entrepreneur, Certified Public Accountant (CPA), and a self-taught woodworker, therefore an artist of sorts in all areas of life. He has been in the crypto/metaverse/NFT space for eight years. He brings the same attention to detail necessary for creating finely crafted furniture into the business world. Kirk Phillips is a true believer in technology, business procedures, fraud protection, time management, learning, and mental serenity. He has over 15 years of experience working with business owners in public accounting and the private sector and creating several companies, including invizibiz.biz, a virtual accounting, and back-office subscription service. --- Send in a voice message: https://anchor.fm/rush-tech-support/message

This week we welcome Dr. Jennifer Sahmel and Kirk Phillips to explore the concepts of Total Exposure Health (TEH) and Total Worker Health (TWH). TWH's primary goal is to improve the well-being of the U.S. workforce by protecting their safety and enhancing their health and productivity. Total Exposure Health is a strategy to evaluate individuals' exposures to hazards at work, from the environment, and lifestyle choices, integrating these evaluations with health promotions initiatives to better ensure the long-term health of the individual. TEH and TWH take a more holistic approach to health, safety and well being. The concepts are gaining traction and this week we have two of the leading proponents joining us.   Dr. Jennifer Sahmel is a Managing Principal Scientist with Insight Exposure and Risk Sciences in Boulder, Colorado. She is a Certified Industrial Hygienist and a Certified Safety Professional with 25 years of experience in exposure assessment science and workplace health and safety. She has worked in a variety of public and private sector positions including the U.S. EPA's Office of Pollution Prevention and Toxics the National Park Service and Comprehensive Health Services at NASA's Goddard Space Flight Center. She earned her MPH degree in Environmental Health and Industrial Hygiene from the University of California at Berkeley and her PhD in Environmental Health at the University of Minnesota. She is a Research Fellow with the University of Minnesota's Exposure Science and Sustainability Institute. She is also active in the American Industrial Hygiene Association and is a past member of their national board of directors.   Colonel (ret) Kirk A. Phillips currently holds the position of Director, Air Force Office of Energy Assurance (OEA), Washington DC. Prior to his current position Kirk was the Health Safety and Environmental Practice Leader and Vice President at LJB Inc. In 2018, he retired as the BSC Associate Chief for Bioenvironmental Engineering (BE) in the Office of the Air Force Surgeon General. In 2014 he developed Total Exposure Health as a strategic initiative to institutionalize primary prevention in work, environmental and lifestyle exposures. Prior to his current assignment, Col Phillips was the Director of Policy and Programs for the Deputy Assistant Secretary of the Air Force for Environment, Safety and Occupational Health, Pentagon, Washington DC. Mr. Phillips entered the Air Force from a four-year AF ROTC scholarship in 1985. He obtained his BS in Aerospace Engineering and his MS in Engineering and Environmental Management. Colonel Phillips has held a broad range of leadership positions throughout the Air Force.

Join Stephanie Murphy & Adam B. Levine for an in-depth discussion on Cryptocurrency & Taxes with CPA, Author and long-time friend of the show Kirk Phillips The Ultimate Bitcoin Business Guide (Kirk's Book) is available in all formats on his website, linked below. https://www.thebitcoincpa.com/pages/TUBBG This episode sponsored by: www.Edge.app --- Support the Show! Tip LTB:1FZGD64BA7B9GdwDhGGGF92amt9X6VH38K or Via the Lightning Network at https://tipltb.tokenly.com/ LTB Episode T-shirts now available at http://LTBSHOW.COM --- Thanks for listening to this episode of Let's Talk Bitcoin, content for today's show was provided by Stephanie Murphy, Adam B. Levine, and Kirk Phillips. This episode was edited by Dave and Adam. This episode featured music by Jared Rubens. Send questions or comments to adam@letstalkbitcoin.com

"For CPAs who know about the space already, you've already got the trusted advantage. Now all you need is the blockchain knowledge". GBD56. "TheBitCoinCPA" himself, Kirk Phillips, joins the AICPA & CIMAs's Kyle Hannan to share his passionate interest in how blockchain will transform accounting. Kirk has a niche consulting practice in the crypto blockchain space in addition to pioneering many other projects. He authored the Ultimate Bitcoin Business Guide, The AICPA’s Blockchain Fundamentals program, shares his expertise as a tech blogger, and contributes to yBitcoin Magazine and Coindesk.    WE DISCUSS: The trust premium Understanding risk and recognising reward. The crypto myths that need shattering. Thoughts on the recent crypto bear market. Dealing with the naysayers   OUR GUEST: Bitcoin-super-user and entrepreneur, Kirk Phillips (CPA, CMA, CFE & CPB) is based in Philadelphia in the USA. As an author and educator, he's also an ICO advisor with a deep understanding of blockchain and cryptocurrency. He has recently produced the "Ultimate Bitcoin Business Guide: For Entrepreneurs & Business Advisors" Follow him on social media using @TheBitCoinCPA and on LinkedIn here.   LINKS: Find related CPD/CPE resources at the AICPA Store and the CGMA Store. Discover more about TheBitCoinCPA.   CONNECT: Share on social using these suggested links and hashtags.  #GoBeyondDisruption #Podcast  @AICPANews @CIMA_News   MORE ABOUT OUR PODCAST. These conversations with our expert guests are recorded by different members of the AICPA & CIMA team from our offices around the world. While the sound quality may vary, the insights will always be consistently useful. Hear more. Get our shows every week automatically and free. Share them easily with colleagues and friends by using the icons on your app or media player.  Skill Up. Find related CPD/CPE resources at the AICPA Store and the CGMA Store. Connect. #GoBeyondDisruption  @AICPANews @CIMA_News ©2018 Association of International Certified Professional Accountants (AICPA & CIMA). All rights reserved.

I am excited to have Kirk Phillips on this episode, he has been a long time supporter of The Tatiana Show and has helped me personally with my taxes. On this episode he joins us to speak about what you can do when you are getting SIM card attacked! He has been a victim himself and will tell us his experience and advise us on how to increase our security and how to step up our digital identity game. Here are some ways to protect yourself: The 7 Secret Weapons from Crushing a SIM Card Attack Kirk’s Double SIM Card Attack Story #1 on 1-18-19 and #2 on 1-26-19 First things first: Where are the enemies? Three Main Enemies/Attackers a)   Yourself: In crypto you are your own worst enemy b)  The External Enemy (The Hackers) c)   The Enemy Within (The most dastardly of ALL) 1)    “The Golden Thread Principle” Bifurcate your emails:    Communications email    Username email     Never the same for both 2)    Password Manager: LAST PASS (A digital vault for all your sites and platforms) 3)    Encrypted email service: PROTONMAIL    Jurisdictional power    Self owned and operated servers (no AWS-3rd party servers) 4)    Email Aliases for Obfuscation    Special single use username emails    Examples: the protonmail login (creation email), icloud, ATT ie phone account, Last Pass, Mega-Dropbox etc., recovery emails 5)    Cold storage is for more than private keys    2FA backup code    Anything else that has a back up codes     One time back up codes    Last Pass ie password manager emails and passwords    Protonmail main email and password 6)    Bifurcate your phone numbers (same as golden rule above but for mobile numbers)    Communications mobile phone    2FA mobile phone     Google voice to obfuscate your communications # if you can only have one phone    Google Fi or pre-paid burner phone 7)    Business vs. Personal: Add more obfuscation by creating business accounts    Biz identity points: Biz name, State of formation (WY privacy state), phone number and physical address    Create a mobile carrier account in business name About the Guests: Kirk Phillips, aka the TheBitcoinCPA, is an entrepreneur, Certified Public Accountant (CPA) and a self-taught woodworker therefore an artist of sorts in all areas of life. He brings the same attention to detail necessary for creating finely crafted furniture into the business world. He is fanatical about technology, business processes, fraud prevention, time management, learning and peace of mind. When Kirk discovered Bitcoin at the end of 2013 it magnified and extended his passions leading him down the Bitcoin Rabbit Hole, an experience described by many Bitcoiners. A friend of his asked for advice saying, "Kirk, my husband and I want to invest $800 in a computer to mine bitcoin and make some money. What do you think?" to which he responded, "I don't know anything about Bitcoin, I'll have to get back to you." This simple question was the birth of The Ultimate Bitcoin Business Guide. Security Articles: The Good, The Bit and The Ugly (Kirk Phillips Bitcoin Article on Security) https://www.wired.com/story/sim-swap-attack-defend-phone/?mbid=BottomRelatedStories_Sections_1 https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#754f131e38ba https://blog.kraken.com/post/219/security-advisory-mobile-phones/ Tax Articles: The Ultimate Bitcoin Business Guide™ AICPA Virtual Currency Comment Letter for IRS May 2018 What To Do If You Can't Pay Taxes by April 17th Bitcoin Taxation: A Gift From The IRS and The Coffee Problem Eliminate Short-Term Capital Gains for Warp-Speed Bitcoin Adoption If you like this content, please send a tip with BTC to: 1444meJi7YjgQGNg3U8Z6qYZFA5cgz4Gmj More Info:   TatianaMoroz.com CryptoMediaHub.com Vaultoro.com TheBitcoinCPA.com TheBitcoinCPA.com/blog/7%20Secret%20Weapons Friends and Sponsors of the Show: SaltLending.com

Kirk Phillips, CPA, CMA, CFE, DCC is an entrepreneur, Certified Public Accountant (CPA) and a Certified Fraud Examiner (CFE) passionate about technology and the possibilities for bitcoin to disrupt, decentralize and bring transparency into the business world. He is the author of the The Ultimate Bitcoin Business Guide, an inspirational business-focused Bitcoin book for entrepreneurs and small businesses. He weaves risk management into business process outsourcing, crypto business consulting and education. Ultimately, Kirk helps remove the frustrations of managing paper, accounting and other administrative processes every organization and individual must face. He also helps educate and guide people through his courses and books. For show notes and more please visit: LAB Radio

Kirk Phillips' professional experience is diverse: as a certified Bitcoin professional, a certified digital currency professional, CPA and author of The Ultimate Bitcoin Business Guide: For Entrepreneurs and Business Advisors, Phillips lends unique insight on a variety of topics, including his subscription-based virtual accounting and business firm that runs almost 100 percent off of cryptocurrency, the old CPA model and how it relates to and can be improved for modern practices in the crypto space, and some of the skepticism that surrounds Bitcoin and cryptocurrency in general. The next issue of yBitcoin Magazine will feature an article by Phillips that explores the issue of security in the crypto space, and pre-registration for an upcoming educational opportunity with Phillips begins mid-April. Press play to learn the details, and stay tuned for the latest.

Kirk Phillips' professional experience is diverse: as a certified Bitcoin professional, a certified digital currency professional, CPA and author of The Ultimate Bitcoin Business Guide: For Entrepreneurs and Business Advisors, Phillips lends unique insight on a variety of topics, including his subscription-based virtual accounting and business firm that runs almost 100 percent off of cryptocurrency, the old CPA model and how it relates to and can be improved for modern practices in the crypto space, and some of the skepticism that surrounds Bitcoin and cryptocurrency in general. The next issue of yBitcoin Magazine will feature an article by Phillips that explores the issue of security in the crypto space, and pre-registration for an upcoming educational opportunity with Phillips begins mid-April. Press play to learn the details, and stay tuned for the latest.

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YouTube video here! Topics include: - Freelancer markets in the bitcoin space - Peer-to-peer escrow - Figuring out the scary world of taxes for Bitcoin About the Guests: - Ed is CEO and Co-founder of LivelyGig, which is creating a decentralized freelance marketplace that allows any two people to directly connect, contract with escrow, and settle payment worldwide. He is an experienced software product leader, with over 25 years of experience growing and cultivating productive teams and creating great software products in a range of industries, from legal, electric utilities, developer tools, and others. - Kirk Phillips, aka the TheBitcoinCPA, is an entrepreneur, Certified Public Accountant (CPA) and a self-taught woodworker therefore an artist of sorts in all areas of life. He brings the same attention to detail necessary for creating finely crafted furniture into the business world. He is fanatical about technology, business processes, fraud prevention, time management, learning and peace of mind. If you like this content, please send a tip with BTC to: 1444meJi7YjgQGNg3U8Z6qYZFA5cgz4Gmj More Info: TatianaMoroz.com CryptoMediaHub.com Vaultoro.com LivelyGig.com TheBitcoinCPA.com Friends and Sponsors of the Show: TheBitcoinCPA.com CryptoCompare.com FreeRoss.org ThirdKey.Solutions SovrynTech.com SexAndScienceHour.com