INVESTools TRADERS SAVE TAXES!

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Planning, Review & Preparation Electing Mark-to-Market Trading through an entity Trader definitions Tax rules & latest news Discussion Board, F.A.Q., Futures, Benefit Plans & other info Search this site add text to search window		Copyright© 2008 Colin M. Cody, CPA and TraderStatus.com, LLC, All Rights Reserved.
		"Invest tools" traders' short-term profits, by default, are being taxed at the highest allowable incremental individual IRS income tax rates. What to do? When you are able to qualify yourself to take a tax position of "Trader Status" and also, when appropriate, make a "Mark-to-Market" accounting method election then you can file your tax returns just like other taxpayers all over the country who have lowered their federal income taxes by thousands of dollars every year. Most traders who do qualify themselves can save more in taxes each year than all the fees ever paid for the Investools system, along with all of their computer equipment, office furniture, supplies, business entertainment, etc. There are tax planning methods to help active traders like yourself, (legitimately) eliminate problems with expensive tax rules, wash sales, net operating losses, and even allowing a full deduction of the Investools seminar fees which otherwise might not be deductible on your tax return (see IRS Code Section 274(h)(7)). "Trader Status" is also recognized by most States and can lower those taxes as well. Form your trading entity now, before using any money that otherwise might not be deductible http://www.traderstatus.com/tradingentity.htm Look around my web site and if you do your own taxes, give this tax position some thought. If you'd like assistance with your tax planning, compliance work and tax return preparation of federal and state income tax returns, please contact us to become a client. Taxpayers requiring more assistance in their PLANNING, design and set-up of their trading business and with the PREPARATION or the REVIEW of their tax filings are encouraged to contact us for personally tailored tax advice at our normal rates. How can a CPA help you? Why work with a CPA? Tax Mama's I can do it myself, thank you! Smart Money's Finding a Tax Pro The Blade's Complicated Returns send filers to the Pros What's needed to get started right away? Write to us first with an outline your situation and what you are looking to accomplish (besides the obvious: lowering tax bill): GetMyTaxesDone Colin M. Cody, CPA, CMA TraderStatus.com LLC 6004 Main Street Trumbull, Connecticut 06611-2400 (203) 268-7000 MEMBERSHIPS Member PCPS The AICPA Alliance for CPA Firms Partnering for CPA Practice Success American Institute of CPAs Connecticut Society of CPAs California Board of Accountancy Institute of Management Accountants

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Last updated: October 17, 2008
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