Digital Asset Discussion #143

03/29/22 • 102 min

Digital assets have the potential to start (or perhaps already are) significantly altering the global financial landscape. Yet the rapid evolution of the industry and a sea of unfamiliar technical terms has many feeling a bit lost and overwhelmed. Tune in as guests Nik Fahrer, Brian Condron, Jeremy Goss, Tom Haldiman, Neal Maddy, and Geron Morgan discuss the why, the what, the risks, and the opportunities associated with digital assets. Here’s what’s covered:

Who are our guests? [01:53]
What problem are digital assets solving and why are they important? [07:27]
Nonfungible tokens (NFT), Web 3.0, and use cases [16:49]
What’s a smart contract? [21:10]
Decentralized Finance (DeFi) [24:13]
Wallets [33:48]
Is it anonymous? [40:57]
Illegal activity [48:29]
Stable coins and central bank digital currency [50:59]
Decentralized autonomous organizations [56:51]
Regulation and tax challenges [01:05:29]
Reporting and accounting considerations [01:20:05]
How to get started in and learn more about crypto [01:27:12]
Executive order on digital assets [01:36:44]

Learn more about our guests and get additional resources here.

GET MORE SIMPLY TAX

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

Who are our guests? [01:53]
What problem are digital assets solving and why are they important? [07:27]
Nonfungible tokens (NFT), Web 3.0, and use cases [16:49]
What’s a smart contract? [21:10]
Decentralized Finance (DeFi) [24:13]
Wallets [33:48]
Is it anonymous? [40:57]
Illegal activity [48:29]
Stable coins and central bank digital currency [50:59]
Decentralized autonomous organizations [56:51]
Regulation and tax challenges [01:05:29]
Reporting and accounting considerations [01:20:05]
How to get started in and learn more about crypto [01:27:12]
Executive order on digital assets [01:36:44]

Learn more about our guests and get additional resources here.

GET MORE SIMPLY TAX

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

Previous Episode

What's ESG #142

What are environmental, social, and governance (ESG) standards? How do they affect my business? Host Damien Martin sits down with guest Dirk Cockrum to define ESG, explain its potential effects, describe various ESG frameworks, and share how to get started on building your program. Here’s what’s covered:

What’s ESG?
Why businesses, owners, and investors should pay attention to it
Factors that have driven the increase in interest in recent years
Myths or common misconceptions about ESG
How is reporting around ESG developed and what should businesses know about it?
Tips for those looking at implementing an ESG program
Predictions regarding ESG for 2022 and beyond

Learn more about Dirk and get additional resources here.

GET MORE SIMPLY TAX

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

Next Episode

Strategies For Your Wealth #144

An optimal family wealth strategy is holistic and combines both investment and estate planning strategies. Do you know when and where to start? Host Damien Martin unpacks the important but often daunting task of planning for your wealth with BKD’s Troy Farmer. Here are the questions they cover:

Who is Troy Farmer? [01:48]
What is a wealth strategist and why work with one? [04:00]
How does estate planning play a role in wealth strategy? [07:28]
What are the key decisions you need to make and when? [09:02]
How do I know if a planning technique makes sense for my family? [11:55]
What’s a Grantor Retained Annuity Trust? [15:14]
What’s a Spousal Lifetime Access Trust? [17:54]
Should I be concerned about outliving my wealth? [20:12]
Are there risks to consider when implementing a wealth strategy? [21:41]
What are some frequent questions you answer? [22:30]
How do you educate the next generation and get them ready to inherit wealth? [27:55]
What are some actual stories of those who have implemented a wealth strategy? [31:37]
What should I expect in terms of timing and involvement? [38:13]