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).

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