Tag Archives: trader tax

How To Be Eligible For Substantial Tax Savings As A Trader

July 21, 2020 | By: Robert A. Green, CPA

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

  • Learn the golden rules in detail for how to be eligible for and claim TTS, no election is required.
  • Automated trading systems (ATS) can qualify for TTS, providing the trader is significantly involved with the ATS. Trade copying software might not be eligible.
  • TTS traders deduct business expenses, startup costs, and home office expenses, whereas investors cannot.
  • Learn how TTS traders use an S-Corp to deduct health insurance and retirement plan contributions.
  • TTS traders are entitled to elect Section 475 MTM ordinary gain or loss treatment. Section 475 trades are exempt from wash sale losses on securities, and the $3,000 capital loss limitation.
  • Section 475 income, net of TTS expenses, is eligible for the 20% qualified business income (QBI) deduction if the trader is under the taxable income threshold.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IBKR.

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How to Set Up A Trading Business for Optimal Tax Reporting

June 9, 2020 | By: Robert A. Green, CPA

If you are eligible for “trader tax status” (TTS), consider setting up a trading business to maximize tax benefits. Join Robert Green (CPA) as he shows you how to qualify for and claim TTS. He will also discuss how an individual with TTS can deduct certain business expenses, startup costs, and home-office expenses on a Schedule C, with no entity required. Plus, how to arrange further benefits using an LLC taxed as an S-Corp or partnership.

Webinar hosted and recording produced by YouCanTrade. Everyone is welcome; you don’t have to be a client of YouCanTrade or TradeStation.

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How Recent Tax Relief & Aid Legislation Impacts Traders

May 15, 2020 | By: Robert A. Green, CPA

Congress postponed the tax deadline to July 15, 2020 for filing 2019 individual tax returns, extensions, and elections. The CARES Act provides tax relief and economic aid; however, traders don’t fit well into usual categories. Join Robert A. Green, CPA, of GreenTraderTax.com, to learn how traders can maximize benefits.

This is one segment of MoneyShow’s Webinar Series: Trading Strategies.

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How To Set Up A Trading Business For Optimal Tax Savings

May 12, 2020 | By: Robert A. Green, CPA

If you are eligible for “trader tax status” (TTS), consider setting up a trading business to maximize tax benefits.

  • Learn how to qualify for and claim TTS.
  • An individual with TTS can deduct business expenses, startup costs, and home-office expenses on a Schedule C, with no entity required.
  • With TTS, an individual can elect Section 475 MTM accounting for 2020 with the IRS by July 15, 2020. Section 475 trades are exempt from wash sale loss adjustments on securities, the $3,000 capital loss limitation, and 475 income is eligible for a qualified business income (QBI) deduction. You can carryback a 2020 NOL/475 loss five years under the CARES Act.
  • A TTS trader uses an S-Corp to deduct health insurance premiums and a Solo 401(k) retirement plan contribution up to $63,500.
  • Learn different TTS entity formation strategies and whether to form an LLC taxed as a disregarded entity, partnership, or S-Corp.
  • An investor without TTS cannot get any of these tax benefits.

Join Robert A. Green, CPA, of GreenTraderTax.com for this valuable 90-minute presentation.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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April 15 Tax Deadline Moved To July 15 & CARES Act

March 28, 2020 | By: Robert A. Green, CPA

The IRS moved the April 15 tax deadline to July 15, 2020, thereby postponing 2019 tax filings and tax payments. The postponement applies to 2019 individual income tax returns, gift, trust, estate, and ex-pat returns, and IRA, and HSA contributions. It also applies to 2020 estimated tax payments for Q1 and Q2.

All states with a personal income tax have extended their April 15 due dates.

On April 9, 2020, the IRS postponed the 2020 Section 475 election deadline for individuals from April 15 to July 15, 2020.

The new CARES Act includes significant economic aid and tax relief provisions. If you have NOLs from business activities in 2018, 2019, and 2020, CARES allows five-year NOL carrybacks for immediate tax relief. Prior law TCJA had repealed NOL carrybacks and only allowed carryforwards. Traders, eligible for trader tax status (TTS), might have NOLs from trading expenses and Section 475 ordinary losses. With NOL carrybacks allowed for 2020, it makes a 475 election essential if you have YTD losses.

Join CPAs Robert A. Green and Darren Neuschwander of GreenTraderTax.com, to learn about these developments.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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Last-Minute Tax Tips & Extensions For Traders

February 25, 2020 | By: Robert A. Green, CPA

Many traders are filing 2019 individual income tax returns or automatic extensions, and 2020 Section 475 elections, close to July 15, 2020, the postponed tax deadline. Join CPAs Robert A. Green and Darren Neuschwander of GreenTraderTax.com as they discuss:

  • Last-minute tax tips.
  • How to benefit from filing an extension for three additional months until October 15, 2020, for filing your tax return, but not for paying taxes due.
  • Options if you cannot pay the IRS what you owe.
  • The IRS also postponed Q1 and Q2 2020 estimated tax payments until July 15, 2020.
  • Should you file a 475 election for 2020 by July 15, 2020?
  • The CARES Act positively impacts traders for 2018, 2019, and 2020. CARES suspended the excess business loss limitation and allowed five-year NOL carrybacks and or 100% NOL carryforwards.
  • CARES tax relief and economic aid that applies to traders.
  • Current developments on pending further Covid-19 tax legislation.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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Tips For Professional Traders When Preparing 2019 Tax Returns

February 3, 2020 | By: Robert A. Green, CPA

If you traded actively in 2019, you should watch this webinar before preparing your 2019 tax returns. Join CPAs Robert A. Green, Darren L. Neuschwander, and Adam W. Manning from Green, Neuschwander & Manning, LLC. There are several new and revised 2019 tax forms based on the implementation of the 2017 Tax Cuts and Jobs Act.

  • Learn how traders, eligible for trader tax status (TTS), maximize business, home office, and startup expenses using critical tax-reporting strategies.
  • Don’t solely rely on broker 1099-Bs: There might be opportunities to switch to lower 60/40 capital gains rates in Section 1256, use Section 475 ordinary loss treatment if elected on time, and report wash sale losses differently.
  • Make vital 2020 tax elections on time.
  • Learn common errors on tax returns for TTS traders, which can lead to an IRS or state exam.
  • Learn tips for filing extensions and paying taxes.

Lightspeed customers can learn about common errors and opportunities that professional traders can make on tax returns.

Webinar hosted and recording produced by Lightspeed. Everyone is welcome; you don’t have to be a client of Lightspeed.  LightspeedWebinar Lightspeed image

Tips For Traders On Preparing 2019 Tax Returns

January 21, 2020 | By: Robert A. Green, CPA

Join CPAs Robert A. Green, Darren L. Neuschwander, and Adam W. Manning from Green, Neuschwander & Manning, LLC.

  • There are several new and revised 2019 tax forms based on the implementation of the 2017 Tax Cuts and Jobs Act.
  • Learn how traders, eligible for trader tax status (TTS), maximize business, home office, and startup expenses using critical tax-reporting strategies.
  • Don’t solely rely on broker 1099-Bs: There might be opportunities to switch to lower 60/40 capital gains rates in Section 1256, use Section 475 ordinary loss treatment if elected on time, and report wash sale losses differently.
  • Make vital 2020 tax elections on time.
  • Learn common errors on tax returns for TTS traders, which can lead to an IRS or state exam.
  • Learn tips for filing extensions and paying taxes due April 15, 2020.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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Highlights From Green’s 2020 Trader Tax Guide

December 12, 2019 | By: Robert A. Green, CPA

Green’s 2020 Trader Tax Guide focuses on traders’ unique tax needs and is updated to include the latest tax strategies, pitfalls, tweaks, warnings, and benefits. Whether you self-prepare your tax returns or engage a CPA firm, this guide can help you through the process of optimizing your tax savings. Join author Robert A. Green, CPA, as he explains tax tips featured in the guide.

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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TradersEXPO New York: Trader Tax Law 2020 Update

| By: Robert A. Green, CPA

Join Robert A. Green CPA, as he explains new developments, trader tax status (TTS) business expenses, the tax treatment of securities, futures, options, and other financial instruments, critical tax elections, and TTS S-Corps with health insurance and retirement plan deductions.

If you don't come to New York City, watch the live Webcast.

If you don’t come to New York City, watch the live Webcast.

March 7 – 9, 2020 | New York Marriott at the Brooklyn Bridge

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