How to Qualify for Day Trader Status

How To Qualify For Day Trader Status The IRS buckets everyone by default as an "investor" for tax purposes. In this video we discuss the criteria that needs to be met in order to qualify as an active day trader in the eyes of the IRS. This is not an application but a set of facts and circumstances that must be met each year to meet the qualification! If you qualify you get TWO main benefits: a) Business Expense Treatment and b) The opportunity not "right" to Section 475 M2M *Around 7:08 I misspoke in saying that the equity/options markets closes at 4:30pm. Regular trading hours actually stop at 4pm. 4:30pm is just the time i leave my desk.. :)* 🚀 Learn How To Slash $30K Off Your Taxes Without Being A “Tax Expert” Or Spending Money On An Expensive CPA! Free Strategy Session: https://www.thetaxonomics.com/strategy 🏦 BEST BROKER FOR ACTIVE DAY TRADING 🚀🌚💸 https://www.interactivebrokers.com/mk... ⚡ TraderFyles: Generate your trader specific tax forms! (Coming Soon) ⚡ www.traderfyles.com ⭐Schedule a Trader Tax CPA Consultation! (Available May - Dec Only) https://calendly.com/tradertaxcpa/ 🧟‍♂️Follow me on Social   / brianriveracpa     / brianriveracpa   For Related Videos on Day Trader Taxes: ✅ Why Active Day Traders Should Elect Mark-To-Market    • Wash Sales Suck! Why Active Day Traders Ne...   ✅ Day Trader Taxes | Strategies and Debunking The Top 3 Tax Myths!    • Day Trader Taxes | Strategies and Debunkin...   ✅ Tax Strategy Ideas For Index ETF Traders    • Index ETF Traders should consider this tax...   🖥️Some of My Favorite "Tax Deductible" Trading Tools: BenzingaPro - great for news and stock research https://pro.benzinga.com/tradertaxcpa... Scanz - great for scanning momentum stocks and news http://www.scanz.com?fpr=tradertaxcpa FlowAlgo - great for scanning and spotting unusual options activity https://app.flowalgo.com/users/aff/go... ___ DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need advice I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and/or use myself. Some of the links on this web page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing the content this channel.