Traders Log » Tax Information

How to Setup Your Trading Entity as a Business

TradersLog — Wed, 06 Jul 2011 18:01:50 +0000

I’m sure you’ve heard the saying to become a successful trader you must “treat trading like a business.” Setting up a trading entity correctly is an important step if you are a business trader whose full-time position is (currently or soon to be) trading the markets. After reading this artic

Three Cheers for Tax Shelters!

Nilus Mattive — Wed, 14 Apr 2010 17:23:19 +0000

Okay, before you get the wrong idea … today’s article is not going to talk about hiding money in foreign countries or any other strategy that is either suspicious or outright illegal. Cheating on your taxes is hardly something I would advocate, let alone celebrate. Sure, I think a lot of

Trader Tax Articles

TradersLog — Mon, 28 Sep 2009 17:00:17 +0000

Trader Tax Forms Advantages of using a C Corporation for your Trading Business Trade as a Business Entity and Reap the Benefits Futures: What You Trade Determines How You’re Taxed Forex: Know What You Trade to Avoid Tax Traps Limited Liability

$7,000 of Tax-Free Income Every Year

TradersAccounting.com Research — Thu, 24 Sep 2009 19:12:02 +0000

If you are trading through a corporation or combination of legal entities that includes a corporation, you have the opportunity to obtain tax-free income by the proper utilization of a little-known tax code provision, Section 280A. This article will address the co

Trader Tax Forms

Jim Forrester, CPA — Thu, 24 Sep 2009 19:00:44 +0000

By Jim Forrester, CPA Trader income tax preparation can be overwhelming for the first-time filer. Even many experienced traders prefer to entrust their federal income tax return to Traders Accounting’s tax professionals rather than battle it alone. You know trad

Trade as a Business Entity and Reap the Benefits

Jim Forrester, CPA — Thu, 24 Sep 2009 18:59:55 +0000

By Jim Forrester, CPA The Internal Revenue Service has two tax codes: one for businesses, the other for individuals. Because businesses grow money both by paying taxes and employing other taxpayers, they are rewarded and encouraged through a benevolent tax code. I

Tax Strategies for Forex Traders

TradersAccounting.com Research — Thu, 24 Sep 2009 18:48:35 +0000

TradersAccounting.com Forex: Know What You Trade to Avoid Tax Traps: Forex, the foreign currency exchange market, can be a lucrative one indeed for traders skilled in its dynamics. This worldwide network of government central banks, commercial and investment bank

Schedule D Tax Breaks

Jim Forrester, CPA — Thu, 24 Sep 2009 18:42:40 +0000

“How I Turned My Frustration With the Schedule D Into a Tax Break I Could Drive My SUV Through” If you are a trader and you want to reduce your taxes, there are issues potentially worth many thousands of dollars to you that you need to consider right

Paying Your Estimated Quarterlies

Jim Forrester, CPA — Thu, 24 Sep 2009 18:38:23 +0000

The following is a summary of the requirements for paying your estimated quarterly taxes. Individuals: The general rule is that at least 90% of an individual’s final income tax liability is to be paid through either withholding or estimated tax payments. The est

Mark-to-Market Accounting

Jim Forrester, CPA — Thu, 24 Sep 2009 18:34:54 +0000

One of the most important decisions you will make as a trader is whether to elect the mark-to-market (MTM) accounting method. Although MTM is only available to traders, not investors, and does offer some significant tax advantages, it is not right for everyone. Wh