As a day trader, you know how exciting your job can be. Each day presents a new opportunity to capitalize on your vast knowledge to make shrewd trades. But, while the financial markets and trading strategies may be your playground, the world of taxes and accounting can often feel like a labyrinth. So, do day […]
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Day trading has always had a kind of mystique about it for those who are not in the field. It’s an intriguing world, full of dynamic markets and thinking on your feet. If you’ve ever considered getting into the profession, you’ve probably asked yourself “how do day traders really make money?” Today, let’s demystify this […]
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When you decide to become a full-time active day trader, you have a number of choices when it comes to structuring your business from a tax and legal standpoint. Establishing a legal entity for your day trading activities can give some tax advantages, provide access to certain benefits, and help keep your personal assets separate […]
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If you’re new to being a full-time active day trader, there are a lot of decisions you have to make. One such area you have to consider is taxes. You make every purchase and sale that you do at the time that you do to maximize the amount of money you make. Shouldn’t that same […]
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One of the most important considerations when you begin to trade is taxes. There are special rules that apply specifically to traders and not investors. Essentially, United States law considers your trading activity as a business, even if you don’t have any employees. This comes with the tax advantages that are part of owning a […]
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Business entities can close or shut down for a variety of reasons. Death, lack of business, loss of interest, a lack of time, and many other factors can make it easier to just close up shop. The process of closing your business can be a stressful and upsetting one. It’s not easy to decide to […]
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In late March, the Biden Administration released its budget recommendations for 2023, along with revenue proposals. These proposals were included in the Treasury Department’s General Explanation of the Administration’s Fiscal Year 2023 Review Proposals, which is more commonly known as the “Green Book.” These proposals included changes to the tax code, which have not been […]
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Recently, President Joe Biden signed the Inflation Reduction Act (IRA) into law. People from all walks of life are likely wondering what the IRA will mean for them and those who make their living trading are likely no different. The name suggests, the act is designed to reduce the sky-high inflation rates the country has […]
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