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MasterTrader traders' capital gains are short-term and, by default, are taxed at the highest incremental individual IRS income tax rates. That's the bad news The Good News is that all your trader expenses can offset your taxable income AT THOSE SAME RATES! But not your investment expenses... When you qualify yourself to take a tax position of "Trader Status" and, when appropriate, also make the "Mark-to-Market" accounting method election then you can file taxes just like taxpayers all over the country who have lowered their federal income taxes by thousands of dollars every year. Most traders who do qualify themselves will save more in taxes each year than all the fees ever paid for the MasterTrader system, for all their computer equipment, their travel, restaurant meals, office-in-the-home and so on. Tax planning methods to help active traders (legitimately) eliminate problems with expensive tax rules, wash sales, net operating losses, even allowing a full deduction of the MasterTrader 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.
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Last updated:
October 17, 2008 TraderStatus™, TradersTaxPlan™, TradersAdvantage™, TraderStatus.com™, TradersTaxPlan.com™, TradersAdvantage.com™, DoYourOwnDaytraderTaxes™, DoYourOwnTaxes™, DoingYourOwnTaxes™, DoYourOwnDaytraderTaxes.com™, DoYourOwnTaxes.com™, DoingYourOwnTaxes.com™, DoYourTaxesOnline™, DoYourOwnTaxesOnline™, DoYourTaxesOnline.com™, and DoYourOwnTaxesOnline.com™ are trademarks and service marks of Colin M. Cody, CPA and TraderStatus.com, LLC, Trumbull Connecticut Copyright© 2008 Colin M. Cody, CPA and TraderStatus.com, LLC, All Rights Reserved |