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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Ada Marie who wrote (3535)	3/24/1998 4:52:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

LOL ...you need a new accountant! otherwise I don't exist! Seriously, There are not many accountants around who are knowledgeable in this area. You do not have to trade for others for trader status.

To: Ada Marie who wrote (3535)	3/24/1998 8:49:00 PM
From: Colin Cody	Read Replies (1) \| Respond to 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