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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (99)	2/19/1998 9:28:00 PM
From: Colin Cody	Read Replies (2) \| Respond to of 1383

Spots, as I just posted to Joel, I BELIEVE that the 475(f) election will NOT create EARNED Income NOT be reported on Schedule C, will NOT be subject to Keogh Contributions, will NOT be subject to the self-employed medical insurance deduction. . There was an article written in Barrons 12/8/97 that "Eagle Eyes" Joel picked up on at the time. The story mentioned "you probably will be hit by the ... self-employment tax". I DISAGREE with the author's conclusions there. But remember, that was written shortly after the new tax act was signed into law. The author, Joe Gelband was a trail-blazer in bringing this to the attention of the investment community! . Since that time, others have had time to think about it, and do research. In my opinion this will not be subject to SECA. That's just my opinion. What is a FACT is that NO ONE KNOWS FOR SURE. . I have suggested to the people drafting the technical corrections that this issue (and other more obscure technical issues) be SPELLED OUT IN FULLER DETAIL. I think those drafting it agree. If only Congress will cooperate!! (g) . Colin