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