How To Achieve Tax Savings As A Trader (MoneyShow Virtual Expo)

27 Sep

Sep 27, 2022 at 11:30 am EST

Join Robert A. Green, CPA of GreenTraderTax.com, as he explains the tax advantages of trader tax status (TTS).

  • Learn the golden rules for eligibility for TTS for full-time or part-time traders. You can claim TTS for all or part of 2022 and 2021; the IRS does not require an election.
  • TTS traders deduct business, startup, organization, and home office expenses, whereas investors cannot.
  • TTS traders can elect Section 475 MTM accounting which exempts securities trades from wash sale loss adjustments, navigates around the $3,000 capital loss limitation, and unlocks a qualified business income (QBI) deduction.
  • TTS traders might achieve additional tax benefits using an entity like an LLC taxed as a partnership or S-Corp.