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Whenever Fortune wants to do a story on day trader tax matters they call us. We have earned their respect as the leading authority. Check out these two stories.
“The Ultimate Year-End Tax Guide” – “Burden of Proof”
By Lee Clifford, Oct. 30, 2000
“And you think your taxes are tough? The IRS doesn’t mind if you collect clocks–or do anything else it considers unusual. It just wants you to fill out a few little forms.”
“There is a huge record-keeping burden for day traders,” notes Robert A. Green, CPA of
GreenTraderTax.com (and Harmon’s new accountant). “People come to us, and they
are tearing their hair out trying to keep up with all the paperwork and all the tax laws.”
Part II of the article features Dr. Kendall Harmon, a client of ours.
To Pay Your Taxes, First Define “Day Trader”
For Most Traders, Capital Gains Aren’t the Problem
By Carolyn T. Geer & Carol Vinzant, April 12, 1999
“Most important, since losses go on Schedule C, mark-to-market traders don’t face the $3,000 limit. Even many accountants don’t know that. One Seattle day trader with $80,000 in losses was told he was subject to the $3,000 cap–so it would take him 27 years to write it all off. Then New York CPA Robert A. Green, who runs www.tradertax.com, showed him how he could qualify as a mark-to-market trader.”