Nik Fahrer, CPA

Crypto CPA with @ForvisMazarsUS | The opinions expressed on this site are my own and do not necessarily represent the views of Forvis Mazars, LLP.

[Bespoke Group @BespokeGroupCO]

Thank you to the Denver Estate Planning Council for hosting Matt McClintock of Bespoke Group and Nik Fahrer of Forvis Mazars US for a discussion on “Wealth Planning for Bitcoin.”

A special thank you to Stephanie Hill for organizing the event. We appreciated the opportunity to connect with the DEPC community and contribute to the growing conversation around how to help clients structure Bitcoin wealth. A shoutout as well to the DEPC members who brought thoughtful questions to the discussion.

@mcclintock_m @nrfahrer @ForvisMazarsUS

[Bespoke Group @BespokeGroupCO]

On Thursday, March 5, Matt McClintock (Bespoke Group) and Nik Fahrer, CPA (Forvis Mazars US) will be presenting "Wealth Planning for Bitcoin" at the Denver Estate Planning Council seminar.

This session will cover considerations for integrating Bitcoin into an estate plan with topics including:

- Crypto Basics
- Bitcoin vs. Other Cryptocurrencies
- Ways to Own Crypto
- Overview of Tax Treatment
- Risks of "HODLing"
- Securing and Transferring Digital Assets During Life
- Advanced Strategies Using LLCs & Trusts

https://t.co/WSRNzDHZJP

@mcclintock_m @nrfahrer @ForvisMazarsUS

[Nik Fahrer, CPA @nrfahrer]

@TheCryptoCPA And the agents might even be considered PDAPs that have to report these transactions on a 1099-DA

[Nik Fahrer, CPA @nrfahrer]

@TheCryptoCPA Taxpayers also don’t receive basis in those rewards when they are later sold or exchanged.

[Stefano Sanabria @stefanosanabria]

Trends and downstream effects @nrfahrer is seeing at @ForvisMazarsUS as regulations have eased constraints.

[Alea Research @AleaResearch]

Market Cap w/ Forvis Mazars

In this episode we talk with @nrfahrer from @ForvisMazarsUS and @jeffwangolf from @ForvisMazarsGrp, to explore how a global audit and advisory firm approaches digital assets.

We discuss the state of crypto assurance, stablecoin transparency, regulatory readiness and the growing institutional demand for risk and controls in blockchain.

A deep look at how traditional professional standards are meeting the next wave of digital asset innovation.

Chapters
03:01 Understanding Forvis Mazars and Their Focus on Digital Assets
06:13 Personal Journeys into Blockchain and Digital Assets
09:09 Services Offered by Forvis Mazars in the Crypto Space
11:57 Navigating Compliance and Regulatory Challenges
14:50 The Role of Trust and Integrity in Client Relationships
18:10 Trends in the Crypto and Traditional Finance Intersection
20:59 Challenges Faced by Crypto Founders
23:58 Future Trends and Predictions for the Crypto Industry
26:49 Advice for Crypto Founders Moving Forward
29:59 Conclusion and Future Directions for Forvis Mazars

[Nik Fahrer, CPA @nrfahrer]

@3orovik They only removed the DeFi regs. Custodial broker regs are still in place.

[²³𝙻𝚎𝙱𝚛𝚘𝚗𝚌𝚑𝚒𝚝𝚒𝚜🏀☄️🌎💞 @BronGotGame]

Dad… how was the 2025 Pacers playoff run?

[Sean Ash @SeanAshWX]

Hali gave us everything. The team gave us everything.

Fought to the very end.

Epitome of what you ask for as a fan.

I’m grateful for some of the most fun sports months of my life. A lifetime of memories shared with family & friends.

I’ll love this team forever.

#YesCers

[BitGo @BitGo]

Our newest episode of From the Vault, the BitGo podcast is live!

BitGo's Director of Fintech Sales, Nathan Stump sat down with @nrfahrer of @ForvisMazarsUS and Jessalyn Dean of @Ledgiblecrypto for a no-fluff dive into what crypto tax reporting really looks like.

From 1099s to DeFi to staking income, and the strategies institutions need to stay ahead.

👀

[Indiana Pacers @Pacers]

Less than 24 hours until the NBA Finals begin.

Indiana, this is our time.

Narrated by Mark Boyle.

[Wall Street Blockchain Alliance @WallStreetBTC]

If you missed last week's IRS Updates for Digital Assets: Key Regulatory Changes for 2025, don't worry! The recording is now available!

Tune in to hear about the latest IRS regulations shaping the digital asset landscape from expert panelists VP of Tax Information Reporting Jessalyn Dean of WSBA Member Firm @Ledgiblecrypto and Director @nrfahrer of WSBA Member Firm @ForvisMazarsUS. https://t.co/skZcsEgbHP

#WSBA #WSBAWebinar #WSBAMemberFirm #Blockchain #BlockchainLaw #BlockchainRegulation #Crypto #CryptoLaw #CryptoRegulation #Law #Regulation #DigitalAssets #CryptoAssets #IRS #Accounting #FutureOfCrypto

[Nik Fahrer, CPA @nrfahrer]

@rledbetterCPA I was hoping you’d point out the actual reason - Article 1 Section 8 of the US constitution gives Congress the power to levy taxes, not the executive branch.

[Commissioner Hester Peirce (Archived) @PeirceArchived]

Bye, bye SAB 121! It's not been fun: https://t.co/cIwUc0isUE | Staff Accounting Bulletin No. 122

[Nik Fahrer, CPA @nrfahrer]

@tomyoungjr @coinbase No guidance has been provided by the IRS on if BTC > WBTC is a taxable event. There are arguments that it is not a taxable event.

[Nik Fahrer, CPA @nrfahrer]

@nyoungdumb This did not delay the safe harbor

[Nik Fahrer, CPA @nrfahrer]

@BITVOLT These were not delayed. IRS provided relief to taxpayers wishing to use a method like HIFO or LIFO for 2025 transactions only.

[Nik Fahrer, CPA @nrfahrer]

18/18
- However, DeFi brokers will have to weigh the cost of implementing compliance teams and tools necessary to comply with these new reporting requirements. If the cost outweighs the benefit, you might see DeFi apps geo-block U.S. customers.

[Nik Fahrer, CPA @nrfahrer]

1/18 - 12/27/2024, the IRS released 115 pages of final broker reporting regs for DeFi (non-custodial) transactions. In general, this will go into effect for transactions beginning on January 1, 2027. Here’s what was included and what it means for you:

What does the rule say?

[Nik Fahrer, CPA @nrfahrer]

17/18
- In my opinion, this new information reporting regime will not necessarily create undue burden on taxpayers that are already making a good faith effort to report their sales.