50-Minute Consultation With GNM

Price: $417.00

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This 50-Minute Consultation is with Green, Neuschwander & Manning, LLC (GNM) Managing Members Darren L. Neuschwander CPA or Adam W. Manning CPA. Select this option if you are interested in becoming a new client for GNM’s 2022 tax compliance service (planning/preparation).

They will evaluate your eligibility for trader tax status (TTS) and discuss wash sales, the Section 475 election, entities, employee benefits, and other trader tax issues.

The consultation covers:

  • Assess trader tax status (TTS) eligibility for 2021 and year-to-date 2022. With TTS, you can deduct business, start-up, and home office expenses on a Schedule C. No election was required for TTS, whereas Section 475 mark-to-market accounting requires an election.
  • Review TTS expenses for 2021 and 2022 and how to maximize these deductions.
  • Tax treatment for securities, Section 1256 contracts, cryptocurrencies, etc. Tax treatment varies considerably based on what you trade.
  • Dealing with disallowed wash sale losses (WS) on broker-issued 1099-Bs. The essential issue is what WS is open at year-end.
  • With a Section 475 election on securities, avoid wash sale losses and the $3,000 capital loss limitation and perhaps qualify for a 20% qualified business income (QBI) deduction. April 18, 2022, was the deadline for existing individuals to elect 475 for 2022. A new entity can adopt Section 475 within 75 days of inception.
  • Segregate trading vs. investing in improving tax results.
  • Determine whether an entity is valuable for you and which entity might be best for tax benefits.
  • Discuss high-deductible retirement plans for TTS traders using an S-Corp.
  • Consult on tax compliance issues for traders eligible for TTS.

After the 50-minute consultation, they will email you a memo with their notes and suggested next steps. The meeting time will be up to 45 minutes, and they will spend 5 minutes preparing the email memo.

After purchasing this service from Green, Neuschwander & Manning, LLC (GNM), see the Download PDF and email receipt. Click that pdf file for instructions, including links to Darren Neuschwander and Adam Manning's online calendars, and schedule a time at your convenience. Meetings are by phone.

If you have any questions, don’t hesitate to contact us at info@gnmtradertax.com. 

Sincerely,
Darren L. Neuschwander, CPA
Adam W. Manning, CPA
Managing Members, Green, Neuschwander & Manning, LLC