Day Trader's Status: IRS Guidelines and Legal Precedents 1 Credit
Learning mode
Do your clients consider themselves "Day Traders," but wonder if they truly meet the IRS criteria?Â
The IRS defines a day trader as someone who buys and sells financial instruments within the same trading day, with the primary objective of profiting from short-term price fluctuations.
In this CE Tax Course, we will explore the nuances of how the IRS defines day traders and the specific criteria they need to meet to qualify for Tax Trader Status. This course will use real-world scenarios and examine key tax court decisions related to day trading. These cases provide valuable insights into how the IRS interprets and enforces tax rules for day traders. By analyzing these cases, we can better prepare ourselves and our clients for potential IRS challenges.
This CE Course offers a valuable opportunity for tax professionals to deepen their understanding of Tax Trader Status, the Mark-to-Market election, and the tax implications of day trading. Â In this course, we'll go beyond theory and delve into real-world scenarios by examining key tax court decisions. These cases serve as invaluable learning experiences, helping you to best prepare your clients for potential IRS challenges. Gain practical insights that can make a significant difference in your client consultations.
Major Topics Covered:
Join this CE Tax Course, we’ll also explore some tax court decisions in this area to best prepare your clients for an IRS challenge.
Enter your qualification details to ensure this course is counted toward your compliance.
Add your qualification details to easily track your compliance. You can also add multiple qualifications for comprehensive coverage.
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
MDM Financial Services is a family owned and operated tax preparation service with over 45 years of taxation experience. From father to son, the Metras family has brought integrity and clarification to the entire tax process for small businesses and individuals throughout the country. MDM works with a variety of businesses and is familiar with many common concerns that surface around tax season. Our knowledge base is heavy in small business operations and ways to alleviate the stress so often the norm when filing tax returns each year.
At MDM, our mission is to help you understand your taxes and give you confidence in the entire process. In economic times such as we have, small businesses have enough on their plates. Let us handle the stress of taxes while you worry about the day to day running of your business. MDM offers small business bookkeeping too! Leave more time for yourself, and let us balance your books.
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.
To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
TW
Presenter was excellent - well spoken, easy to understand, clear in his explanations. Content was full of information but not overwhelming or rushed. Examples were very helpful. The tables and discussions of pros and cons really solidified the discussion on the filing status and MTM election.
SM
This was a great class. I have had only one tax payer try to tell me he was a day trader. I had no idea that this had specific qualifications. However, now I know he was not a day trader and thankfully, I did not do he taxes as a day trader.
Dec 16, 09:00 AM ET
.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
Dec 16, 09:00 AM ET
Dec 16, 09:00 AM ET
Dec 16, 09:30 AM ET
Dec 16, 10:00 AM ET
Dec 16, 10:00 AM ET
Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.
Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.
Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.
The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.
Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.
This course is included with,
Gain access to everything required for compliance, skill enhancement, and staying ahead of industry trends—all included in the Individual subscription. Here’s what you get:
Pre-selected courses for quick compliance
Connect with like-minded professionals on Teams.
Trusted by 250,000+ Professionals
