Blog
All About the Wash Sale Rule
If you buy and sell stocks on a regular basis, you should take the time to educate yourself about the wash sale rule. The wash sale rule was instituted into the U.S. tax code as part of IRS Code 550, and it’s a very important rule for those who buy and sell stocks. It’s designed […]
Business Entity Formation Types
All businesses are not created equal. There are differences in ownership, control, and taxation. It’s important to understand the various types of businesses before starting one. Here is a brief overview of the different business entity formation types:
2018 Tax Changes
When you file your 2018 taxes at the top of next year, you’re sure to notice some new elements as a result of the changes made to the tax laws in 2017. There were major tax reforms that were passed by Congress, and they could impact the taxes you owe or the refund you get […]
Tips For Day Traders
Are you a novice in day trading? When it comes to day trading, you need to understand the fundamentals of day trading first and foremost. Take some time to discover and learn several strategies that professional traders are practicing on a daily basis. Get a familiarity with analyzing charts, study the current markets; for this […]
Tax Forms And Deadlines For Active Traders
It’s essential to have a common understanding of what expenses traders can deduct, what constitutes day trading income, and what particular rules apply if the IRS considers you a qualified active trader. What matters most is that you’ll need to know what tax forms to fill out and when they’re due. At Traders Accounting, we’re […]
Trader Tax Status Benefits For Active Traders
Trader tax status drives business tax breaks including employee benefit deductions for retirement plans, business expenses, and business trading losses with the Section 475 election. An active day trader can deduct these items from gross income without limitation. But how can you qualify for trader tax status? Unfortunately, only a tiny fraction of active traders […]
Ways To Make Money Trading
The whole premise of an active day trader involves carefully gauging the value of something and making a profit when your estimation is correct. One of the perks of being an active trader is making money when the market goes up or even down. You can also make money with day trading when there is […]
Tips For Self-Employed Health Insurance Deductions
Health insurance premiums are becoming more and more costly. If you’re a self-employed trader who is paying for health insurance, you may be entitled to a health insurance tax deduction. Active traders who qualify are allowed to deduct 100% of their health insurance premiums for themselves, their dependents, and spouses.