This course is valid up to December 31st, 2024 for CFP Professionals. It is advisable to complete this course before that to process the credit on time.
Do your clients consider themselves "Day Traders," but wonder if they truly meet the IRS criteria?
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. 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.
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.
Owner, MDM Financial Services
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.
Course Level
Credits
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 maintenance 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 through its website: www.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
182 Ratings
TW
Oct 21st, 2023
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
Dec 24th, 2023
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.
PS
Nov 20th, 2023
The instructor did a very good job of presenting the important aspects of the IRS guidelines along with good information gleaned from the court cases. He presented good information and seemed very knowledgeable about the topic.
KA
Nov 13th, 2023
This is an outstanding seminar! This guy really knows his topic and is very clear and precise in his presentation. I will look forward to more presentations by Matthew Metras!
DW
Nov 20th, 2023
Great presentation on differences between being a trader or an investor and benefits if qualify as a trader on electing mark-to-market revenue recognition.
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