Accounting 101: Accounting Rules For Crypto & Bitcoin | Chris Benjamin | Skillshare

Accounting 101: Accounting Rules For Crypto & Bitcoin

Chris Benjamin, Instructor, MBA and CFO

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10 Lessons (27m)
    • 1. Course Introduction

      1:02
    • 2. Instructor Introduction

      1:30
    • 3. What Is CC

      4:22
    • 4. Names of CC's

      3:51
    • 5. Investing vs Transactional

      2:41
    • 6. What Is The Accounting Issue

      1:47
    • 7. What Is Wrong With Accounting Rules

      2:18
    • 8. How Do We Classify

      4:48
    • 9. Income Taxes

      2:40
    • 10. Course Conclusion

      1:39

About This Class

Are You A Bookkeeper or Accountant For A Company That Transacts In Crypto?

Are You A Crypto Trader Who Keeps Their Own Books?

Are You An Accounting Student Who Wants To Be One Step Ahead When you Enter The Workforce?

Do You Suspect Crypto Transactions Will Only Increase and Accounting Properly Will Be Important?

If You Answered "Yes" To Any Of The Above, Look No Further.  This Is The Course For You!

*** Updated June 2019 with new content! ***

Enroll today and join the 100,000+ successful students I have taught as a Top Rated instructor!

Three reasons to TAKE THIS COURSE right now:

  1. You get lifetime access to lectures, including all new lectures, assignments, quizzes and downloads

  2. You can ask me questions and see me respond to every single one of them thoroughly! 

  3. You will are being taught by a professional with a proven track record of success!

  4. Bonus reason: Udemy has a 30 day 100% money back guarantee if for some reason you don't enjoy the course!

Recent Review:

Sandra D. says "Fantastic course, there really isn't much information available on how to do proper accounting for crypto.  Until now I had to basically guess the proper way.  After this course now I know exactly what I should be doing and will start doing soon! Chris is a great instructor!"

Why You Should Take This Course:

Lets face it, cryptocurrency is the hot topic of 2017 and 2018.  While so many people and companies are focused on trading currencies, mining coins and setting up ICO's (initial coin offerings), there is an important aspect behind the scenes that must be addressed - HOW DO US ACCOUNTANTS PROPERLY ACCOUNT FOR CRYPTOCURRENCY!?!?

Well you found the right course! In this course I will teach you the proper, correct and legal way to do the accounting for cryptocurrency.  Whether its the initial purchase, recording gains and losses, and what happens when you sell, we will cover it all.  We won't be talking about actual trading specifics or mining, we are focused solely on the accounting and tax side of cryptocurrency in this course.  

What We Do In The Course:  

  • Learn the very basics of what cryptocurrency is

  • Understand the accounting treatment for a purchase of cryptocurrency

  • Understand the accounting treatment for gains and losses on your cryptocurrency

  • Understand what happens in accounting when you sell cryptocurrency

  • Learn what the proper tax treatment is and your obligations

  • And more!

At any point if you have a question, please feel free to ask through the course forum, I'd be happy to answer any and all questions.  

***JOIN NOW AND LEARN ACCOUNTING FOR CRYPTO! ***

About The Instructor

Chris Benjamin, MBA & CFO is a seasoned professional with over 20 years experience in accounting, finance, and lately cryptocurrency.  Having spent the first 10 years of my career in corporate settings with both large and small companies, I learned a lot about the accounting process, managing accounting departments, financial reporting, external reporting to board of directors and the Securities and Exchange Commission, and working with external auditors.  

The following 10+ years I decided to go into CFO Consulting, working with growing companies and bringing CFO level experience to companies.  I help implement proper best business practices in accounting and finance, consult on implementation of accounting systems, implementing accounting procedures, while also still fulfilling the CFO roll for many of my clients which includes financial reporting, auditing, working with investors, financial analysis and much more.  

Thank you for signing up for this course. I look forward to being your instructor for this course and many more!

Chris Benjamin, Instructor, CFO & MBA

Transcripts

1. Course Introduction: Hi, everyone. Thanks so much for signing up for the course. Accounting for crypto currency. My name is Chris Benjamin. I'll be your instructor now. In the next lecture, I'll do a little bit more of an introduction of myself in my background in accounting and finance. But for this lecture, I just want to give you a brief introduction to the course and what will be doing. So essentially, what we'll do is we'll start with just talking about crypto currencies. We'll talk about where sort of the regulations have come from there. We're gonna talk about the different events that happen and how you properly account for them. So whether it's your purchasing Cryptocurrency, you're holding on to it. You're selling it. So what happens in each of those stages, then as well. What happens? Tax related. What taxes you have toe consider when you're buying transactions is their benefits to timing your transactions differently. So we have quite a bit to cover. At the end of the course, you're gonna feel empowered that you know the proper accounting for crypto currencies. So again, whether you're an individual trader, you're a company that investing cryptocurrencies passively or somewhere in between. This is a great course for use. I'm glad you signed up. Let's get started learning all about accounting for crypto currency. 2. Instructor Introduction: Hi, everyone again. My name is Chris Benjamin. I'll be your instructor, so I just want to give you a little bit of a background about myself. I'm 20 plus years in accounting and finance. So the last 10 years I've worked as a CFO, a chief financial officer more on the consulting side. So I go into smaller companies, growth stage companies, entrepreneur type ventures and help them grow. I help them put in place all the best practices. Maybe I helped them fix things that were broken on the accounting and finance side, or I just help them implement the right things to do as well. I've been with companies have grown all the way from seed stage, toe, publicly traded companies. So I've seen quite a bit over the last 10 years. When it comes to smaller companies related to that as well. I tend to work with more high tech, fast growth type companies, so have definitely been involved in companies where crypto currency has been involved, where they have investments in crypto currencies or they did transactions and crypto currencies. So with that, we had to figure out the proper accounting for that crypto currency is obviously a new way of doing business, definitely cutting edge. I mean, not too many companies are doing transactions with crypto currency for the actual payment system. So in this course, we're gonna learn about all the proper accounting treatment of all the different things that happened with crypto currency in a business. So you yourself as an entrepreneur business wherever you might be, will handle your accounting and finance properly when it comes to crypto currency. And then it's, well, your taxes will talk about that. So that said, my background is strong and accounting and finance, although I definitely had a lot of exposure to crypto currency as well. So put it all together. Let's get started learning all about how to do the proper accounting. 3. What Is CC: all right, everybody. So before we go ahead and dive into how to do accounting for crypto currency, let's just talk a little bit about what crypto currency is. So if you're already familiar with it, you could certainly go ahead and skip this lecture if you're not to be a little bit of a background, believe me, this is very 10,000 foot level high overview. The purpose of this course isn't in to get into specifics of it. Goings and crypto currencies will often use the word Bitcoin because it was kind of the original big crypto currency that everybody knows of. It became popular nonetheless. So let's talk a little bit about what crypto currency is. And I'll be referencing my patterns, of course, just that I want to leave anything out more than anything. So essentially, I can tell you from my own experience and sort of layman's terms if it will what crypto currency is. It's essentially a digital currency, so there's no physical form, so unlike a dollar or peso are Canadian dollar. Whatever a pound, there's no physical bill or coin. It's all completely digital. Um, the way that Bitcoins are again, I use the term Bitcoin is so excuse if we use Bitcoin or Cryptocurrency. Bitcoin is one of the types of crypto currencies. Bitcoin slash cryptocurrencies are craters their mind, so there's a set amount of them. The more that they are mind, the more difficult it becomes to mind even more so. There is a limited supply that's only getting more and more difficult to find. Think of it much like somebody mining for gold. You know, that might be easy. You know, if you find a goldmine, it's easy to find all the golden first. But then once you find kind of the easy, you know, low hanging fruit, if you will become more and more difficult to find those last pieces of gold. So that's kind of the analogy I would use for any type of crypto currency. It's not backed by any type of government entities. So, like where U. S dollar is backed by the government and I want to say the men, but I know that's the wrong term, but nonetheless the banks and monetary banks. There's nobody that backs this is completely sort of self regulated. If you will online, it could be used for transactions online primarily of again. You can't print it off. They can't bring it to a store. That said, though being a digital currency, it can be used for payments, so it is often used online between two parties on Do Do obviously see some retail stores more and more these days, accepting Bitcoin. It is stored in, ah, wallet. So use an individual myself. We have a wallet. The wallet is comprised of, Ah, long address, comprised of numbers and letters. Some capital somewhere lower case. Fairly lengthy. I forget the total number of characters, but I would guess it's around 30 ish again. Don't know crypto currency expert. I know enough about Cryptocurrency to talk about the county, so I have a wallet, essentially a digital wallet. So you send me Bitcoins. I give you my wallet address. I get those Bitcoins I can then use those to do what I want. That said, I said, they're not like dollars, etcetera. You can know that exchange and you sell those Bitcoins for US dollars Canadian dollars wherever you might live. I live in the United States, so from there you can then transfer them to your bank account so you can convert, you know, Bitcoins to currency. And likewise, you could buy Bitcoins using real currency. There's several ways to buy again. I keep saying Bitcoins, and this applies to all the different crypto currencies. There's several different ways to buy them. There's online sites of some popular ones. I don't get them because they do tend to change. I don't name them now, and somebody watches this year later and the site is shut down or something. You can buy them from other people who have Bitcoins their sites. Where you can do that. Exchange might actually meet them in person and say Here's $100 they transfer $100 worth of Bitcoin to your wallet right there. There's also Bitcoin a T. M's. You can really go put in cash deposit cash. You stand your your phone, your Bitcoin address, uh, and then they're deposited into your wallet so likewise, you can withdraw them the same way. So that all said that's how you might interact or transact with Bitcoins, trying to see if there is anything else. Yeah, if you really want to learn Mawr, definitely do some searching on crypto currency. It gets into, um, public based cryptography. That's how their mind at Citrus. So in a nutshell, that's crypto currency. In the next video, we'll talk about some of the popular ones that are out there right now. Um, at least as of 2018. 4. Names of CC's: Alright guys. So I just want to give you some ideas of names of different types of Bitcoins. Almost think of them as different currencies. So you might have a Canadian dollar US dollar, Mexican peso. You know, these air kind of a similar level, if you will. They're different currencies. They're worth different amounts relative to other currencies. So, you know, one Bitcoin is worth X amount of us dollars, whereas, you know, one of the other ones say ethereum is worth a different amount of us dollars on such so Bitcoin. Probably the primary one, definitely still up there is definitely a volatile. I mean, it's it's risen and back in the early days, you could get big points for, you know, very small amounts. We're talking under $100 now. I mean, we've seen the rise of Bitcoin up to $20,000 so one Bitcoin was worth $20,000. And it's since fallen. So as a time of this course is currently worth about just over $9000 us. So anyone who bought Bitcoins investing when it was up around 20,000 took a bit of a hit. But anyone who invested early back when it was worth under 100 definitely has profited. So Bitcoins definitely most accepted. One. You'll see things if you go to a store. Like I talked about how some retailers accept it. Still very few retailers. And if they do, they most likely accept Bitcoin. That's the one you're going to see. Accept it. And as you saw in the previous video, I tend to like use Cryptocurrency Bitcoin interchangeably just cause in my head that's kind of the default crypto currency. There are other ones that call all points which are basically alternatives to Bitcoins. But they're still digital currencies. The one I just mentioned a minute ago. Ethereum is one that I should mention to. These all have sort of three digit code so you might see Bitcoin BTC ethereum, I believe, is E T h. That would make sense. Eso ethereum is another one, I would say in third place, at least in my books aspirants ones I see mentioned when I do research and reading would either be light coin. It's so it l I t. E. Coyne is a popular one, and so is ripples. So some different ones for you there Ah, few other ones. Just a throw out, just in case you come across their names dash Manero and arrows Actually somewhat popular. I see that often. Z cash, Sesay. Cash. Those are the primary ones. I would say that. Um I see there's a few on here that I've I personally never heard of. And I've done an extensive amount of research, so I don't wanna put these out, is popular. I will say, though my favorite definitely is not a popular run, but is Doetsch coin. So if you're familiar with the Internet, name does, which was kind of a misspelling of the word dog Had a picture of a dog who kind of was doing side. I think, uh, that dog breed is a she, but he knew, and I happen to have a sheet. But, you know, so, um does Cohen is my favorite. Just out of fun and the name, but totally impractical is a zone All coin. So there you go, guys. There's some of the types of of crypto currencies. They all function the same in the way that their mind they're passed around through wallets . You have to have the person the receivers, wallet, address, etcetera. You need to have a wallet to hold them in. You can. Some of those you can buy them. I mean, definitely. The more alternative they are, the more difficult they're going to be to actually just go by like some of the major places where you would buy them. I only offer kind of those three or four popular ones like I know. For example, I believe it's coin base dot com is a popular one in the US at least, and all they really offer is Bitcoin. I want to say you theory of light coin or Manero. It's one of the two that they they have their self, definitely. And then there's different exchanges, depending on which country you are in. So unless there's the popular ones, you're at least aware of names now. So when you see somebody talk about light point or ripple or does coin, you'll think back to the city and go, Hey, that's a crypto currency. I remember Chris teaching me about that 5. Investing vs Transactional: so next. I just want to distinguish between there's kind of two types of users off crypto currencies . Somebody could certainly be both, but the two categories would be somebody who uses it on a track transactional basis. And then there's people who invest in it. So the similarities would be someone who like you or me. You know, we have money in our bank accounts. We spend the money, we receive our paychecks, we buy goods and services, etcetera. So we're more users of the currency. Same thing with alternative coins. You know, our crypto currencies, you know, they received coins, they buy coins. They didn't use those two by different things. Conversely, and more applicable to this course or people who invest in coins. So they're certainly speculators and traders who buy larger amounts of giving crypto currency. Let's just we're gonna use Bitcoin is kind of the main go to example in this course who, by the currency, hold onto it and then sell it off to make a profit. They're not buying it because they wanted buy goods and services there, simply buying it because they believe it's going to rise in value. It would be similar to buying a stock. But even better, probably analogy would be a foreign currency trader because they're actually buying currencies. Um, and trading those. So? So when we talk about the accounting, we're gonna be talking more about the people or the companies who are buying large amounts of Cryptocurrency holding onto it and then selling it at hopefully a gain, potentially a loss and or what happens at your end when you just have X amount of crypto currency in your accounts in your wallets that you haven't done anything yet with what do you What's the accounting for those, um, typically so going back to sort of businesses that deal in accepting Bitcoins to say you're just a retail store new accept Bitcoin. And you think, Well, how do I account for this? Um I mean, we'll get into that a little bit, of course, but basically you can kind of treated as a cash transaction. Most likely, companies like that are then actually exchanging those Bitcoins to actual cash. I'm gonna say us dollars if you're in the US pretty immediately, so you don't really have an accounting issue on your hands, whereas you know or if you do, you mean you're just recognizing it at the fair value at the time of the transaction. So not too difficult where the real accounting comes in and taxes and whatnot is kind of those bigger blocks, bigger dollar amounts of alternative coins, crypto currencies, Bitcoins like you saw in the different terms around. That's what the course is more focused on. So I just wanted to swing ish, distinguish between those two types of parties. And keep in mind that we're really focused on people who own a substantial amount of crypto currency enough so that they have to really consider the proper accounting and the impact on their books. 6. What Is The Accounting Issue: all right, everybody. So now we have distinguished a little bit about the different types of crypto currencies. What they are the types of users we talked about. So what is the accounting issue? You know what? What's the big issue? Isn't it just a currency? And the problem is, it's not because of the different distinguishing factors that it has. For one, it's not a physical currency to it's not easily. It's somewhat easily, easily liquid. But it's not a popular currency. You're not to be able to necessarily buy from all your renders from it using Bitcoin that you're holding, uh, etcetera and because another factor is the volatility in the pricing. So so you have $10,000 currently worth a Bitcoin on the market falls out. Now it's only worth $5000. So it's a little bit too volatile to consider sort of a normal currency that you would transact with day to day. And ultimately the accounting rules just haven't caught up yet. So what we're gonna be doing in this course is sort of looking at Well, what is that most closely mirror on, then? Is it okay for us to apply the counting rules related to what it mirrors to crypto currency doesn't make sense ultimately and then we're ultimately gonna fall back on our sort of accounting Fundamental South things like conservatism. Um, you know, timeliness, the matching principal, etcetera. So we want to make sure that, you know, we're applying those accounting fundamentals to our Cryptocurrency counting a swell, we're being conservative. Which is probably the biggest thing when it comes to this just because of the volatility in the price. Ondas. Well, then, later on, we'll talk a little bit about taxation, whether sort of the tax rules and how do we handle it when it comes tax time with crypto currency? So that's kind of the accounting issue. There's a few things floating out there, and basically the end result is just There's no hard and fast rules written out to say this is exactly how you account for criminal currencies. So we're gonna have to do our best, and that's what we're gonna figure out in this course 7. What Is Wrong With Accounting Rules: All right, all right. Let's talk a little bit more about the accounting side and just what's wrong? And why can't we just apply some accounting rules to this? I mean, we already addressed the bit of the problem. There is no accounting rules set out specifically for crypto currencies. So how about we think so? What would be your first sort of instinct? I mean, it's a currency. I mean, it's has some value. You can turn it into cash, right? We talked about ways you can do that. You can sell it in your account, which then gets transferred to your bank account and be in local currency. You go to an A T M and pull it out. Businesses probably are doing that as much. You can also then and use it, re use it to buy other stuff, maybe use it with some of your suppliers. So in that sense, what I think OK, well, let's treat it as cash. Well, there's a problem with that, and I'll tell you why again, accounting rules haven't really caught up. Um, in order to do that, Bitcoin would have Teoh or criminal currencies would have to sort of meet the definition of a financial asset. So, uh, this is where the problem arises because one it's not legal tender as cash is to find in accounting rules or in international financial reporting standards. So unfortunately, it is not recognized as a legal tender. It is not backed by a government entity. Uh, it's not a cash equivalent because it is highly, um, volatile. The value changes so much so we can't say it's, you know, the same as something that's easily liquid herbal, but not quite cash because it is too volatile. Tomorrow it might be worth double or might be worth half the bottom might fall out. Maybe the U S uh, government decides Bitcoins. It'll are allowed to be used in the country. And there has been countries that have banned various crypto currencies so overnight. Cryptocurrencies are worth nothing in those countries. Um, there's also no contractual right to either receive cash or cash equivalent. So ultimately, while it operates like cash, it doesn't you know, in our day to day we don't notice the difference, right? I mean, sure, it's digital all that. It's a little bit different, but on paper and under kind of the strict rules of Gap in under I fire s it doesn't meet the definition of a financial assets. So what does that leave us to do with it? Essentially, we're gonna have to look to other areas to figure out what it is, and we'll talk about those in the next coming lectures. 8. How Do We Classify: all right, so we can't classify it as a cash or cash equivalents. What other options do we have all? It's certainly an asset, right? It's something that we own, so we know that much. So there's been different arguments, and so, um, different methods have been proposed as to how to account for it. More recently, I like the trend and we'll get to it. But just to talk about some of the past weighs. Some companies recognize it as an intangible asset. Intangible. Sure, we don't physically see, we don't touch it. So I like the intangible part. Doesn't quite when you think of other intangible assets, what do you think of patents, trademarks, copyrights? Is Bitcoin really like that? Not so much. I would have a hard time saying it's an intangible asset on DSO do generally accountants worldwide, you know, it's not really sort of a popular way to account for it. We would have to think about things than like impairment, etcetera. Sure, it's a very volatile, but you know, typically intangible assets have a value that just declines over time, whereas Cryptocurrency could go up, could go down everybody. There's the added factor, guys that in general the sentiment is that Cryptocurrencies will climb over time. So, sure, there's been a lot of volatility. For example, Bitcoin climbs to 20,000. Now it's worth 9000. The long run those so thinking kind of similar to a stock market is that CRYPTOCURRENCIES will continue to climb. So there's gonna be some big bumps in the road, but it will climb. So in that sense, it doesn't really fall under what a typical intangible asset would be. So what else that people don't um they have also classified them as I'm trying to find it here. I believe it was a fixed asset which I would definitely inventory. That's what it waas. So people will try to classify them. Is inventory Ah, definitely not a fan of that thinking of inventory. What His inventory. It is goods that we have warehouse that we're going to sell as they are, or do something with and, you know, put them together and make them better, assemble products and then sell them. Nothing to do with crypto currency, right? We aren't going to be selling our customers crypto currencies so really didn't like the inventory idea that some companies follow. So what does that leave us? Well, turning to the good old tax people What is the best way to? And just also, I would say almost common sense, if you will. So what would you most treat Bitcoins are cryptocurrencies Like I would say we treat them like property, investments, etcetera, investments go up, they go down. I mean, we might not have Bitcoin strictly foreign investment purpose Say we just collected coins. Customers pay some Bitcoins We don't sell them Over time we build up a balance of $10,000 in Bitcoins and guess from payments from customers. And guess what? That balance goes up to 15,000 by your and because we didn't do anything with them and we just let them sit Perfect. What do we dio? Um so one. We can then determine the fair market value. We know what we got them for. Essentially. So say we receive those Bitcoins through the sale of our goods and services. We know what the fair market value with those waas or conversely say we receive them because we do invest in Bitcoins or alternative coins. That's just what we do is the company Or maybe that's what we do with our excess cash. Who knows, whatever your situation might be. So for whatever reason, you know what the original price you paid. Waas. You know what? Your prices, that your end, what the value of them is. You know what it is if you sell them as well. So whether you hold on them till year in or you sell them, you know what the fair value is. Then it's the price you sell them at. You're able to calculate your gain or you're lost on your Bitcoins, so you treat it very much like an investment. Ah, you would then recognize the gains or losses on your investments and such. Calculate your taxes in the same way. One thing actually will talk about taxes in the next video. Just did. I know this one's getting a little bit long, but the main point I want to drive home here is that while there's been several different mythologies come up with for accounting for crypto currencies, obviously it's difficult since there's no set rules I'm a fan of, and I believe the proper way that's recognized by most companies these days is treat them how you would treat any sort of marketable security if you invested in stocks, mutual funds bonds tracked a Excuse me account for them in the same methodology, your fair value when you bought it, the fair value when you sell it or as you're holding it, what's the fair value of that security at the time? And, you know, alternative coins are very easily priced right. That's the going price on the market. So it's quick. It's quite determine herbal what the fair value is, so that's the best way to do it. And then we'll talk a little bit about actual income taxes on alternative and crypto currencies in the next video. 9. Income Taxes: Okay, everyone. So in terms of income taxes on your crypto currencies, actually fairly straightforward. We're not getting into any complex calculations. We already determined we're going to treat them as we would treat any type of marketable security so your taxes will essentially be treat the same, you know, the fair value. So it's on to document. I mean, that's the main thing, right? So especially if you have a lot of Cryptocurrency transactions coming in and let's go back to the example where maybe you are accepting them as payment for the sale of your goods and services, so you have to recognize so, like, ah, person might send you 0.5 Bitcoins today for your goods and services. Somebody who buys the same thing a month from now might have to send you 0.25 because the value has changed. So you have a total 0.75 Bitcoins. But the fair value of those what you paid for them was the price of your goods or services . So let's say, for example, let's some numbers out so you sell $10,000 worth of goods to somebody. Bitcoin just happens to be valued at 11 Bitcoin is $10,000 right now. So they send you one Bitcoin perfect. The value of Bitcoin jumps up to $20,000. Somebody wants to buy your goods or services which still cost $10,000 in your local currency. Now the second person only has to send you 0.5 Bitcoins, right, Because the Bitcoin is worth 20,000. So they send you half a Bitcoin. So now you have 1.5 Bitcoins there currently valued at $20,000. So you have $30,000 worth of Bitcoin. The only sold 10 are $20,000 worth of goods and services, right? You sold 10,000, 10,000 and sort of real prices. So you need to document all now you could see how quickly this would get out of hand trying to keep track of what? Who gave you what and what was the fair value at the time, etcetera. So just keep good records, guys, that will mainly be your key to success and keep yourself out of any hot water when it comes to your accounting. One last thing when it comes to income taxes, if you're in the United States in order to come for regulatory compliance. So when you choose your valuation strategy and we're suggesting fair value, um, you need to look at things like a schedule C and A form 11 20. And make sure that you recognize there is while you're gains in your losses in the fair value, etcetera, especially if you're doing a lot of transactions with your crypto currency. So something else to keep in mind, obviously, fear not in the United States, and you're taking this course, look into what forms you would do so, But I think the big picture is to remember. Treat them as you would a remarkable security, and you should be 99% of the way there on doing the accounting correctly. 10. Course Conclusion: Okay, guys, Congratulations. You made it through the course. Uh, no. In some ways, it was fairly convoluted and complex in other ways. It's fairly straightforward, right there, really Only sort of seemingly one great way to do accounting for crypto currencies. And that's OK. So just to wrap up on a few points as rules and regulations change, I will update this course. So stay tuned. I will try to send out announcements when I add new lectures to it. So if suddenly the rules change that, we need to account for it in some other wacky way. Whatever, it might be different than what we talked about. I will post an updated video and sort of revised the course and let you know, uh, number two, I encourage you to go ahead and take a look at my other courses. So I've several other courses. I have one currently related to crypto currencies and tracking your sales, which might actually tie right into this course in terms of making sure you document, you know, your purchasing price or the value of it, and then any sales prices when you get rid of it and liquidate your coins. Thirdly, I love hearing from you guys. I love your views. So if you take a few minutes after the course is done and leave me a review for the course , it is greatly appreciated. It really helps me out with making better content for you guys. And just with, um, in general. Obviously, I love your feedback. So it helps make me a better instructor for you guys. All that said, I've appreciated you taking this course. Good luck with your crypto currencies. It's only gonna be a growing topic. I believe it was the number one Google search topic. Either Cryptocurrency Bitcoin and 28 2017. I'm gonna share. It will only be grow from here. So glad you were able to take this course. Good luck with your crypto currencies and that's it for me by everyone.