Active Traders Bookkeeping
The Only Bulletproof Defense Against the IRS!
Once you have made the decision to use outsourced bookkeeping services for your active trader business, well-organized and meaningful accounting records are the foundation for any successful trading business. The secret to meaningful accounting records is the regular maintenance of recording every stock transaction on both sides of the ledger. This job can be very time consuming because every monetary amount must be recorded. When tax time comes, having your records in order will save you time, energy, and money. One of the first things to consider when you start a trading business is how you are going to maintain your records. Traders Accounting has been providing professional bookkeeping services for active traders since 1998. Our knowledgeable and experienced bookkeepers help clients, trading as a business, reduce the day-to-day administrative burden of recorded keeping.
Unfortunately, just keeping business records isn’t enough. Knowing what expenses are deductible is also a must. Why would anyone want to pay more taxes than legally required? Depending on the expense, the IRS can require more than just a receipt in order for an expense to be deductible on your tax return. The IRS is a lot more stringent on what is required for trader expenses than for your typical operational expenses. Traders Accounting helps you to integrate tax and business planning which helps you identify areas of opportunity and risk. Not only can we help you organize your records and make sure you have the proper substantiation, our professionals can make recommendations regarding any expenses you may have missed. This allows you, the business owner, to focus more on the important things – trading.
There will be no more wading through paper statements, spreadsheets, and random pieces of paper from your broker to organize and match your trades. Keeping your business records organized from the beginning will save you a huge headache later. The last thing you want to be worried about when tax time comes (or worse when an IRS auditor shows up at your door) is what happened to all those old receipts. Traders Accounting’s Professional Bookkeeping Department typifies our motto “You Trade, We’ll Do the Rest”. The Bookkeeping Department is an essential element for anyone trading as a business to properly record daily financial activity; allowing you to focus on your trading. As a business owner, you have more important things to do with your time than the monthly anguish of maintaining a set of financial records. Traders Accounting will reconcile all of your accounts, including bank accounts, credit cards, trading accounts and will separate 1256 contracts, Forex, and Stocks to comply with IRS standards. You will have the opportunity to consult with your trading bookkeeper to review financial reports and discuss your status while operating your trading entity. You will receive monthly financial reporting, that includes a Balance Sheet and Income Statement as well as detailed reports upon request. The Balance Sheet shows the assets, liabilities, and your equity in the business on a given date. The Income Statement will show the business income and expenses for a given period.You will not be disappointed when you decide to use outsourced professional bookkeeping services at Traders Accounting. Let our dedicated professionals reduce the administrative burden to free you to pursue your active trader business. Our staff enables our clients to focus on trading, not recordkeeping. Detailed monthly reports and seamless tax return preparation assure that our clients remain IRS compliant at all times.