Cryptocurrency Practical Application

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Description

Cryptocurrency Practical Application
IRS Program #: X9QQU-T-00868-22-O
CTEC #: 6257-CE-0067
CE: 2 IRS credits
Speaker: Sean Fogarty, CIA, EA

This course will use the knowledge you gain in NAEA’s Cryptocurrency Certificate Program curriculum to apply theory to practice and better prepare tax professionals for real-life cryptocurrency tax situations they might be facing now in the future.

Learning Objectives:

Learn to report most common transactions
Learn to report sale of cryptocurrency
Learn to report metaverse transactions
Learn to report staking, yield-farming, and airdrops.

This session is a part of the Crypto Currency Certificate Program. The Program offers those that take it a deep dive into the tax issues surrounding Crypto Currency. Attendees will leave the program an expert in all things crypto and able to help clients get through any situation they encounter. Take this certificate program today and be confident in any issue your clients bring to you.

On Demand: Video recordings will be posted but no on-demand CE is given by purchasing the live certificate program. Must attend all live sessions to receive CE certificate. Content available for 1 year for the live only certificate.

Need a more flexible schedule? The Cryptocurrency Certificate Program - On Demand is available for purchase. Videos will be live in mid July after the live program has completed. Learn more.

Contributors

Sean Fogarty, CIA, EA

Sean Michael Fogarty CIA EA is a tenacious, ambitious, and friendly manager with over 20 years of experience in the accounting, compliance, sales, and agricultural fields. He has proven strong analytical and communication abilities developed through work in management reporting, sales forecasting, tax preparation, income statement preparation and analysis, and auditing. Sean possesses excellent problem-solving, communication, and presentation skills. His experience includes aggressive effective cold calling business development. Fogarty has international sales experience that includes food product R&D. Several of these products were released in national product launches. He managed roughly $ 10 million of ingredient sales; developing approximately $ 3 million in new business and $ 2 million in incremental business in his best year. He was involved in his family dairy farm and his own start-up commercial printing company which were both sold and merged into larger operations. Sean maintains his involvement in dairy operations via relief feed and milking center operations management.

Current and Past Work Experience
Currently, Sean is a self-employed tax preparer/planner in Central Minnesota with over 400 clients and manages 1 rental property since 2010. Past experience includes Cost Accounting Manager at Hormel Foods Corporation’s Dan’s Prize affiliate, which includes managing/analyzing product costs for over 600 products produced at 2 locations in Central Minnesota. His experience includes working as the Director of Internal Audit of a growing $ 400 million commercial bank with a focus on agricultural and mortgage lending. The bank is employee owned and has its own internal mortgage servicing operations. He represented the Internal Audit department to external parties including national bank examiners and external auditors. Sean ensured the overall quality, consistency, risk management and adherence to department and professional standards for Compliance audits, identifying opportunities for audit process improvement and integration with the financial and operational audit process. He simultaneously operates his own consulting company, Fogarty Enterprises LLC, which is a holding company for his tax, property management, construction and farm consulting initiatives. Fogarty’s property management comprises construction and landscape projects on his own properties and assisting in the operations of a multi-million-dollar real estate enterprise based in Minneapolis. Sean’s farm consulting consists of equipment maintenance, total mixed ration processing, and financial analysis. Sean worked for 2 prominent Minnesota billionaires, Mark Davis and Glen Taylor, in his past life, which gave him insights into large multi-faceted international businesses and valuable life lessons.

On the technical side, Sean has been an integral player in the maintenance of hundreds of websites via two different companies. He protected intellectual property rights while hiring and firing staff and maintaining and upgrading accounting recordkeeping processes.

Education and Certification
Sean Michael Fogarty holds a Bachelor of Arts degree in Business Administration with an emphasis in Accounting from the University of St. Thomas in St. Paul, MN. He is a Master Graduate of Rapport Leadership International. The Rapport training encompasses Japanese kaizen style management philosophy. This intensive course gave direction in continuous improvement of all aspects of life, which Sean has incorporated and embedded into his personal and professional thought processes. He has also achieved the Certified Internal Auditor designation via the Institute of Internal Auditors. He is an Enrolled Agent and participates in various continuing education opportunities to maintain and better his tax expertise. He has also taken many courses to increase his proficiency in the areas of accounting, tax, auditing, dairy farm management, bitcoin, compliance, safety, OSHA regulations, bank regulations, farm drainage design and health and wellness. He studies Spanish in his spare time and is working toward fluency.

Miscellaneous
In addition to his employment, Sean is an active board member on Stearns County Dairy Advisory Committee, promoting the future of dairy farming and related business infrastructure in Central Minnesota. His volunteer activities include various church and community event support which range from being a member of the clean up crew at his church Chow Mein Supper, Be the Match walk/run event, mulch installation at a rural non-profit, the Minneapolis based Sandwich Project, and many bank related community events in Willmar, MN. He also supports his local schools via fundraising efforts too numerous to mention. He frequently offers consultative advice to local small businesses, family and friends at no charge. He is passionate about innovative farm and food techniques. Sean is a lifetime member of the National FFA (Future Farmers of America) Alumni Association. He has encouraged people of all ages to pursue their work interests with positive action and zeal. Sean Fogarty is an amputee, who lost his foot in farm accident as a child. He is particularly interested in safety and accident avoidance.