Blog
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]