Trading Resources

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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Trading Business Formation Services in AZ

Why You Should Enlist Trader’s Accounting to Help You Form Your Trading Business

Serious day traders typically make the choice to form a business entity in order to separate their trading from their personal name, so that they may gain access to the tax benefits entities receive when it comes time to file.

As a day trader, it’s important to put substantial thought and effort into the details of how you’re going to form and run your business. That’s why working with the experts at Trader’s Accounting to form your trading business is the best next step for day traders who have decided to incorporate.

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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

Day Trading Business Resources in AZ

Everything You Need to Know About a Registered Agent for Your Trading Business

Navigating all of the legal and logistical requirements of forming and running your own business can be overwhelming. You need to be sure your operation is compliant on a local, state, and federal level in order to set yourself up for long-term success (that’s why we always recommend consulting a professional to help with the process).

One of the requirements for compliance that can sometimes be confusing is the designation of a Registered Agent. Especially if you’re running an active trading business, it can be difficult to determine what is really necessary to meet this requirement. Let’s break it down so you can make the right decision for your enterprise.

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Business Entity Resources for Day Traders

What Are the Advantages of Forming a Business in the State You Reside In?

If you work as a day trader, incorporating your enterprise is a smart move. There will be a lot of considerations for you to make as you begin to make your business official—what type of entity you want to be, who (if anyone) will help you with operations, and which state is the most ideal for registration.

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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

Trader Tax Services in AZ

Understanding the Wash Sale Rule

It’s important for anyone who buys and sells stock on a regular basis to be aware of tax code policies that can affect you come tax time. We understand that this can be a lot to keep track of—especially for day traders—and not to mention pretty confusing!

The best solution is, of course, to have a professional advise you and handle your taxes so you don’t have to worry about trying to figure out all the rules. However, that doesn’t mean you shouldn’t educate yourself on the tax regulation basics!

Start with our breakdown of one of the most inevitable policies you’ll have to deal with in the trading profession: the wash sale rule.

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