Tax Planning Services for Day Traders

Here’s What You Should Know About Startup Costs if You Plan on Incorporating Your Trading Business

As an active day trader, there can be many advantages to incorporating your trading enterprise. A lot of those perks pop up around tax season in the form of deductions. Forming your business and planning your tax strategy with a professional is the best way to fully leverage these deductions.

If you’re just getting started with your trading business, or beginning to consider taking the plunge into incorporation, you’ll have the additional advantage of claiming startup costs in the first tax year of operation. There are a few things about your business’ startup costs that you’ll want to keep in mind for tax time.

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Tax Services for Day Traders in Surprise, AZ

Why Have a Professional Prepare Your Taxes?

In the age of DIY and free tax software, it can be difficult to see the value in hiring a tax service to help you when it comes time to file. Many of us are of the mindset that there’s no good reason to pay someone else for something we can do ourselves.

While this philosophy makes sense for something simple, like washing your car or mowing your lawn, tax preparation is an entirely different beast. There are a lot of inconveniences and unexpected issues you may come across filing on your own, especially if you’re a self-employed or even an incorporated day trader. Read more

Tax Prep Services for Traders in Arizona

Stocks and Taxes: Here’s What You Need to Know

Tax season can get confusing when your assets are distributed in multiple different places. The taxes you pay on stocks you hold will depend on how your shares are structured and what you do with them. If you’re already an active or day trader, you may be considering the benefits of long-term stock investment.

Make sure as you go through your research that you’re educating yourself with the essential information you need to know when it comes to stock taxation!

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Tax Preparation Service for Traders

Four Tax Deductions for Traders

Working as a day trader can be a challenge. Making quick moves in a constantly fluctuating stock market that result in consistent profit is a job that takes time, skill, and resources to master.

Fortunately, when tax season rolls around, many of the expenses required to keep up with the industry translate into write-offs. In fact, any costs defined as ordinary and necessary to collecting and managing your income can be deducted. If you keep a detailed list of your business expenditures throughout the year, your tax preparation expert will be able to help you determine what qualifies as a deduction. Read more

New Tax Changes

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 back when tax time rolls around again.

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Tax Planning Strategies to Use This Year

Looking to save money on your taxes this year? It’s never too early to start planning ahead using these proven tax planning strategies.

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