The Final Frontier - Online Remote Trading Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ada Marie who wrote (3535)	3/24/1998 8:49:00 PM
From: Colin Cody	Read Replies (1) of 12617

Ada, As I have said before MOST excellent CPAs do have not A CLUE what a Securities Trader is. They do not teach it to us in school. There is no CPA continuing education for it. . The LOGIC of it goes against all reason. So NO intelligent CPA would be expected to even conceive of the idea... UNLESS, like me, the CPA had cause to be thoroughly involved in the business and became aware of it. . Even of the 0.001% of CPAs who do admit KNOWING about Trader Status, I have SELDOM ever seen anyone truly intimately familiar with it and how it works. . So I would NOT recommend seeing if you can "open the eyes" of your CPA, who may be excellent for you in every way. Trader Status is not a "cookbook" that just referring a CPA to -- he might do it for you. It takes RESEARCH and an thorough knowledge of the industry, and the dozens of court cases that define the issues. . If you INSIST on talking to your CPA mention "IRS Code Section 475(f)" as A VERY SMALL PART of what we're talking about here. It WILL use the words "Security Trader". . Don't push it. And don't let your excellent CPA say "he'll figure it out." It is NOT for the uninitiated. . Good Luck! Colin

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next