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Earmark Media, Jeremy Wells, EA, and CPA에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Earmark Media, Jeremy Wells, EA, and CPA 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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From Discovery to Deduction: Modern Theft Loss Rules Explained

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Manage episode 506965917 series 3659469
Earmark Media, Jeremy Wells, EA, and CPA에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Earmark Media, Jeremy Wells, EA, and CPA 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Jeremy explores the complex world of theft loss deductions, examining how digital asset scams have renewed interest in these tax provisions under the Tax Cuts and Jobs Act. The episode breaks down the three key criteria for claiming theft losses, explains why timing of discovery matters more than when the theft occurred, and analyzes five modern scam scenarios from IRS Chief Counsel guidance including pig butchering schemes and romance scams. Jeremy concludes with a fascinating 1984 court case involving Civil War veterans' land rights that shows even tax court judges can disagree on fundamental questions of tax law.

Sponsors
SafeSend - taxshow.promo/safesend


  • (00:00) - Introduction: Digital assets spark new interest in theft losses
  • (03:00) - The three types of losses under IRC Section 165
  • (08:00) - Three criteria for claiming a theft loss deduction
  • (13:00) - When discovery matters more than when theft occurred
  • (19:00) - State law defines theft for federal tax purposes
  • (25:35) - Simple disappearance is not theft
  • (28:35) - Casualty losses vs theft losses: Key differences
  • (30:35) - Stock declines don't qualify as theft losses
  • (34:35) - Ponzi schemes get special safe harbor treatment
  • (42:35) - Five modern scam scenarios from IRS Chief Counsel
  • (54:35) - Reporting theft losses on Form 4684
  • (57:35) - The Booth case: When smart judges disagree
  • (01:03:35) - Wrap-up and final thoughts

Connect with Jeremy
https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com

Subscribe on YouTube
https://www.youtube.com/@TaxinAction

Earn CPE for Listening to This Podcast
https://www.earmark.app/

This podcast is a production of the Earmark Media

  continue reading

12 에피소드

Artwork
icon공유
 
Manage episode 506965917 series 3659469
Earmark Media, Jeremy Wells, EA, and CPA에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Earmark Media, Jeremy Wells, EA, and CPA 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Jeremy explores the complex world of theft loss deductions, examining how digital asset scams have renewed interest in these tax provisions under the Tax Cuts and Jobs Act. The episode breaks down the three key criteria for claiming theft losses, explains why timing of discovery matters more than when the theft occurred, and analyzes five modern scam scenarios from IRS Chief Counsel guidance including pig butchering schemes and romance scams. Jeremy concludes with a fascinating 1984 court case involving Civil War veterans' land rights that shows even tax court judges can disagree on fundamental questions of tax law.

Sponsors
SafeSend - taxshow.promo/safesend


  • (00:00) - Introduction: Digital assets spark new interest in theft losses
  • (03:00) - The three types of losses under IRC Section 165
  • (08:00) - Three criteria for claiming a theft loss deduction
  • (13:00) - When discovery matters more than when theft occurred
  • (19:00) - State law defines theft for federal tax purposes
  • (25:35) - Simple disappearance is not theft
  • (28:35) - Casualty losses vs theft losses: Key differences
  • (30:35) - Stock declines don't qualify as theft losses
  • (34:35) - Ponzi schemes get special safe harbor treatment
  • (42:35) - Five modern scam scenarios from IRS Chief Counsel
  • (54:35) - Reporting theft losses on Form 4684
  • (57:35) - The Booth case: When smart judges disagree
  • (01:03:35) - Wrap-up and final thoughts

Connect with Jeremy
https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com

Subscribe on YouTube
https://www.youtube.com/@TaxinAction

Earn CPE for Listening to This Podcast
https://www.earmark.app/

This podcast is a production of the Earmark Media

  continue reading

12 에피소드

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