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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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Trader Tax Status Benefits

Trader Tax Status Benefits For Active Traders

Trader tax status drives business tax breaks including employee benefit deductions for retirement plans, business expenses, and business trading losses with the Section 475 election. An active day trader can deduct these items from gross income without limitation. But how can you qualify for trader tax status? Unfortunately, only a tiny fraction of active traders are eligible for trader tax status, and the rules are vague and confusing to understand.

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