You have some lingering confusion. True one may write every single trade into a Schedule D. One does this if he is a regular investor or if he...
In 1997 the IRS Code was changed to allow a section 475 M2M election for Traders (similar to that already in effect for Dealers). The rules to...
The default method is to depreciate computers over 5 years using MACRS. The optional election that a taxpayer can make in certain...
There are ways to get it done... (not speaking about IB specifically, just retail brokerage accounts generally) To make it clear: you still...
Simply do not get market data associated with the professional (entity) account. Get your market data in a personal account. The cost of...
I wonder that if by paying yourself a performance fee rather than sharing a carried equity ownership interest in the LLC you are #1 needlessly...
The options are - you can choose to form an entity (can be desirable for control purposes and to show you are serious) and open a brokerage...
If you type into Google: trader ira 401k limits you'll see a web page giving the various limits
As an investor those $40K in option premiums are probably short-term capital gains. You can not base an IRA contribution on that. But yes...
Okay, it's just symantics... the words we used! Suffice it to say, the Fed does not prohibit margin for IRAs, the SEC does not, Reg. T does...
I see you contradict what I've posted, in spite of my being the one who corrected the SEC themselves resulting in them pulling the staff opinions...
As you've posted it is not considered "illegal" by the SEC, nor by the DOL nor by the IRS. But it is independently "outlawed" (mostly due to...
How do you propose daytrading with no problem in a non-margin account? Reg T still prohibits cash account free-riding last I heard.
Like most of the IRS system, they know because taxpayers are honest and they self-report. Occasionally brokers do send 1099's to the IRS,...
Fidelity for one, has self-employed 401(k), regular employee 401(k) and various versions of IRAs. In their self-employed 401(k) and various...
What are you referring to? By restrictive trading do you mean the free-riding rule: Reg T or "T+3" that does not allow the use of sales proceeds...
I see that you're starting with just enough knowledge to be dangerous :) You might consider first getting up to speed by Googling [ trader tax...
His "Legal Tax Avoidance" link does not even mention the word "tax" one time on the page. Proper planning with real attorneys and with 7...
You left out State Income taxes in your example, and you left out the power of...
The first $15K +/- into a self-employed 401(k) actually can save you more at the Federal + State income tax rates than it will cost you in...
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