The launch of Bitcoin in early 2009 seemed at the time like a blip on the world’s radar screen. For those who weren’t fervent early adopters of the digital medium of exchange, the concept was hard to understand and even harder to use. Today, the world of blockchain technology has evolved to include cryptocurrencies like Bitcoin, non-fungible tokens, decentralized finance, decentralized autonomous organizations (DAOs), and the various Metaverses in corners of the Internet, large and small.
For tax practitioners who haven’t waded knee-deep into this space, the vocabulary and the mechanics can seem overwhelming. If you’re confused, you’re certainly not alone in the private sector, and even the government has been unsure about how to treat these novel ideas for tax, securities, and other purposes.
This presentation will introduce the basic concepts in detail and cover the fundamentals of the associated tax issues, both resolved and unresolved. The program will not explore advanced concepts and will save those for a later presentation.
Learning Objectives:
Falcon Rappaport & Berkman PLLC
Vice Managing Partner
[email protected]
(516) 558-3377
Matthew E. Rappaport concentrates his practice in Taxation related to Real Estate, Corporations, Partnerships, and Trusts & Estates. He advises clients regarding tax planning and structuring for generational wealth transfer, commercial real estate enterprises, business transactions, and cross-border considerations. He primarily advises real estate professionals, financial professionals, and closely-held business owners. He also functions as a subcontractor for other attorneys, accountants, financial advisors, bankers, and insurance professionals when they encounter matters requiring a threshold level of tax law expertise.
Mr. Rappaport graduated from Washington University in St. Louis in 2007, cum laude, with an undergraduate degree in Political Science. His undergraduate thesis was a cross-sectional analysis of the corporate culture of the privately held financial firm Edward Jones. He received his Juris Doctor and Master of Laws in Taxation from Georgetown University Law Center in 2011. Mr. Rappaport is licensed to practice in New York. He is an active member of the Nassau County Bar Association, the New York State Bar Association, and the American Bar Association. He was the Co-Vice Chair of the Tax Committee of the Nassau County Bar Association from June 2015 until June 2016.
He serves on the Sales, Exchanges, and Basis Committee of the American Bar Association Section of Taxation. Mr. Rappaport has authored articles for the Nassau Lawyer, Thomson Reuters’ Journal of Real Estate Taxation, The Tax Adviser, Bloomberg BNA’s Tax Management – Real Estate Journal, and the Journal of Taxation of Investments. He has spoken at the request of the American Bar Association, the National Conference of CPA Practitioners, the Financial Planning Association, Strafford Publications, the School of Accounting at LIU Post, and a wide variety of law, accounting, and wealth advisory firms. He is a founder of the young professionals networking group Hydra Collective.