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Tag Archives: Accounting

My Journey Through the Financial Industry – Amy Shelly Feature,MarketsWiki Education,MWEd,Video,video

“Go find your friends. That’s the start of your networking skills. Learn how to go up and talk to people. Have a conversation, be interested in what they’re saying and tell them what you’re looking for and what interests you.” In this video from MarketsWiki Education’s World of Opportunity event in Chicago, Amy Shelly, CFO at the OCC, talks about her winding path through the industry. Shelly spent the early part of her career in banking, spending seven years with Goldman Sachs and three with JP Morgan. Shelly moved on to work for Hull Investments as an accountant where she…

McGladrey: Tired of your mark to market election? IRS has good news. Blog,Commentary

Our friends at McGladrey shared the following commentary with JLN for publicaiton New Revenue Procedure makes it easy to revoke 475(f) elections There are various reasons that traders find refuge in a mark to market election under IRC section 475(f).  Some are looking to avoid disallowed losses caused by wash sales and straddles (offsetting positions), both of which can arise when trading frequently.  Others find themselves with a losing year, and make the election to obtain ordinary treatment on losses, freeing them up for carryback to earlier years.  In any case, circumstances change, and what was once a blessing can…