Trader Tax Status: Deducting Trading Expenses on Your Tax Return
This video is part of the Tax Talk for Traders Series. We review the qualifications and pitfalls for deducting trading expenses on an individual or an entity tax return. This can be a very important was of legally reducing taxes.
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Special Update: September 3, 2022
This is part of the Tax Talk for Traders series. These special updates focus upon current news items that may be of interest. In this edition, we discuss how the IRS allowed information for 120,000 taxpayers to get out. Also, we look at the IRS help wanted ad for the new agents it is hiring.
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Income Tax Return Extensions: Are They Really Important?
This is part of the Tax Talk for Traders series. This presentation examines income tax return extensions for individuals and businesses to provide a brief synopsis of when they are important and the consequences of not filing an extension. The Failure to File Penalty from the IRS is discussed here as well.
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Trading Entities: Which One is Better?
This is a continuation of the Tax Talk for Traders Series. This presentation the different types of entities investment traders can form as a trading business. We examine all the different entities, formation requirements, pros, and cons.
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Seven Fatal Tax Lies Traders Tell Themselves: How Badly Can I Screw Up My Portfolio
This is part of the Tax Talk for Traders series. This presentation looks at seven mindsets traders can have that can derail or completely destroy their trading strategy. The presentation also offers solutions for each of the falsehoods so traders can utilize a trading strategy without having tax issues becoming a hinderance.
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Estimated Tax Payments: When Do Investors Need to Send Money to the IRS?
This is a continuance of the Tax Talk for Traders series. The presentation examines when traders need to pay estimated tax payments and the basis for calculating them.
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Build Back Better and The Green Book: How This Legislation Affects Investment Traders
This is part of the Tax Talk for Traders series. This presentation examines how the Build Back Better legislation (Inflation Reduction Act) and the Green Book will or could affect the tax situation for investment traders.
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