Tax Filing Mistakes You Can Avoid

Recorded Feb. 19, 2013

We cover avoidable tax-time mistakes, including not using trader tax status (business treatment), which you can claim after the fact; not using the correct tax treatment for what you trade, like ordinary loss treatment where allowed; and several problems with cost-basis reporting for securities.

Testimonials

For 25+ years prior to 2013 I used TurboTax to do my own tax returns. When I started trading options as my primary source of income, however, I attended a presentation by Bob Green at Traders Expo and realized that there were significant advantages to trading within an LLC/partnership legal entity. I also realized that this made my tax return situation more complicated, so I started with GreenNFH for the tax year 2013 since they specialize in tax returns for active traders. Since I live in California, all my interacting with the staff has been through email, and the easy-to-use secure file upload/download facility they use. I have found the entire process to be very efficient and the fees to be quite reasonable. I recommend GreenNFH to other traders whenever the topics of trading entities and tax returns come up.

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