Tuesday, July 22 | 8:00 a.m. - 9:40 a.m. | Concurrent Session

Casualty/Theft losses and Ponzi Schemes

CPE for AFSP, EA, CFP®, CPA, CRTP

Casualties and thefts are a fact of life. We have been hit hard in the last few years with major disasters all over the country. This session will explore the current rules on tax implications of casualty and theft. We will also dive into the world of Ponzi schemes, which are on the rise with the ever increasing digital monetary system. You will learn what is and is not considered a Ponzi scheme and how to determine and report losses.

Objectives
Upon completion of this session, you will be able to:

Review basics of casualty and thefts – what is and is not
Review YCJA items impacting casualties and thefts and possible upcoming changes
Determine what casualties fall under the Federally Declared Disaster Area rules and cover current declarations impact big areas of the country.
Complete Form 4684 with concentration in the actual calculations and which section of the form is used for various items.
Define Ponzi Schemes and determine what qualifies for Ponzi treatment and how to report losses including the safe harbors.

CPE information
Duration: 100 minutes
Course level: Overview
Prerequisite: None
Advanced preparation: None
Delivery method: Group Live

Kathy Morgan, EA, USTCP

Owner of Puzzled By Taxes LLC