BCEPC APRIL 2018 - Joint Bucks/MontCo Meeting

Date: Monday, April 23, 2018
Time: 5:30pm - 8:00pm
Location: William Penn Inn
Speaker: Peter D. Hardy


Topic: Bitcoin and Cryptocurrencies - Implications for Wealth Management

The use of cryptocurrency and related technology by legitimate investors and consumers continues to rise across the globe.  This presentation will set the stage by summarizing the mechanics of cryptocurrency, how it works and is stored, its "pseudo-anonymous" nature, and its growing use and acceptability.  We then will discuss how the IRS taxes cryptocurrency, and some recent enforcement actions relating to the historically low rate of taxpayer reporting of cryptocurrency gains.  Finally, the presentation will focus on cryptocurrency issues specific to estate planning, including the need to ensure that heirs will be able to track and access an estate's digital assets, potential language for wills and trusts, and dealing with previously unreported assets.

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