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Daily Tax Briefing
Daytrader and tax sites
|Copyright© 1999, 2000, 2001, 2002 & 2003 Colin M. Cody, CPA and TraderStatus.com, LLC, All Rights Reserved.|
A few years ago there were approximately five million people who were registered to trade stocks on-line1. In April 2000 about 50,000 were day traders3 These numbers are projected to increase four-fold to more than twenty million households2 and many of them need to make the choice to file there taxes as an investor or to file using trader status.
There is no reason why you, as a qualifying active trader, can not file as a trader status taxpayer on your own using readily available tax preparation software. All it takes is your time and a good, thorough understanding of the methods used to file properly as a trader status taxpayer.
How thorough? Find out now, by taking this quiz, if you need an accountant and this summary on hiring a tax pro to prepare your taxes or not! While trader status concepts are more complex than anything in the quiz... If you do score well, you probably have what it takes to do just fine if preparing your own trader status tax return! Otherwise, please consider using TraderStatus.com
Become your own expert on Trader Status tax filings - order the TradersTaxPlan™ documentation, instructions and forms...
Click here for Schedule D / Form 4797 software.
File your 2002 federal and state income tax returns at DoYourOwnDaytraderTaxes. Both your federal and your home state income tax return can be electronically filed for one reasonable price. (e-filing is not recommended for many returns claiming significant daytrading activity. We recommend that you print the return out, attach the details of your trades and send via certified mail).
help and advice will be available to you as needed once you start
working on your trader status "Schedule C." The normal
$49.95 price includes basic email support.
As a securities daytrader you put your expenses on "Schedule C" and a
listing of your trades on Schedule D (if a valid Mark-to-Market election was
made by April 16, 2002 then use form 4797 instead of Schedule D). Answers to many general questions may be obtained via the
site's FAQ listing.
Answers to general common daytrader questions may be obtained via email
once you start your "Schedule C." More detailed information is
available by purchasing our
2002/2003 TradersTaxPlan™ documentation, instructions and forms...
investors and on-line traders filing as trader status are
doing their own tax returns right now. Taxpayers who
qualify as a trader for tax purposes, using annually
updated software, can save hundreds and even thousands in
professional tax preparation fees each year.
September 14, 2006
Copyright© 1999, 2000, 2001, 2002 & 2003 Colin M. Cody, CPA and TraderStatus.com, LLC, All Rights Reserved