Tax Tips for Day Traders – Traders Accounting Webinar Video

In case you missed the presentation by Jim Crimmins of Traders Accounting given on March 23, be sure to watch the recording below. It contains money-saving tips that benefit traders and non-traders alike; very important this time of year (tax time).

Please click this image to view the webinar. Note that clicking this image will take you off-site to a page that requires registration.

In the presentation, Jim covers the following:

  • Trading as a sole proprietor
  • The IRS “special rules” surrounding “Traders Status”
  • The recent Frank Chen Tax Court Case, and what it means to all traders
  • The advantages and disadvantages of trading as a formalized business—what type trader would use a formal business?
  • Partnerships
  • LLCs
  • Corporations
  • Is there a cookie cutter approach to tax savings for a trader?
  • The taxation of 1256 contracts
  • The difference
  • What types of trading business would fit in this category
  • Mark to Market
  • A panacea or an empty promise for a trader?
  • Trading in a retirement account
  • What is the best way to approach this

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