RE: [Metastockusers] Re: Active Trading & Taxes

[<uhehs@xxxxxxxx>]

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>Gary (and
others):

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>I have been
knee-deep researching this aspect of a trader&#8217;s activity.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>I&#8217;m still
working on getting more specific and will try to put out a full report of what
I come up with.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>Keep in
mind, I&#8217;m not a tax advisor, so I&#8217;m studying this stuff from scratch and even
enlightening two CPA friends of mine on this topic.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>Briefly, these
are some of my thought processes:

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>-setting
up and LLC whose sole purpose is &#8220;Securities Trading&#8221;<span style="mso-spacerun:
yes">  (to be noted on Schedule &#8220;C&#8221;) and have that LLC pay me a
salary with which I can contributed to a retirement account for myself;<span
style="mso-spacerun: yes">  and/or one for the LLC itself&#8230;&#8230;&#8230;&#8230;..maybe,
I&#8217;m just brainstorming.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>-I&#8217;m still
undecided on electing the Marked-to-Market method of accounting.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>-&#8230;&#8230;not
sure if I will take the Home Office deduction or not.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>&#8230;&#8230;.just
some thoughts, for now.

<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<font size=2 color=black
face=Tahoma>-----Original
Message-----
From: Gary
[mailto:gary.keeney@xxxxxxxxxxx]
Sent: Friday, October 25, 2002
2:33 PM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] Re:
Active Trading & Taxes

<span
style='font-size:12.0pt'> 

<font size=2 color=black
face="Courier New"><span style='font-size:10.0pt;font-family:"Courier New";
color:black'>I've found tax information (and related, entity structuring) at
the <span
style='font-size:10.0pt;font-family:"Courier New";mso-fareast-font-family:"Courier New";
color:black'>
following sites:

www.greencompany.com/tradertaxstatus.htm
tradersaccounting.com
www.traderstatus.com/
www.daytradertax.com/
www.strategiclegalservices.com


--- In Metastockusers@xxxx, <uhehs@xxxx> wrote:
> Hi all.
> 
> I understand there are some specific tax laws related to what we 
are doing.
> 
> For those of you who rely solely on trading profits for income, can 
you
> discuss tax implications and/or strategies you are using?

<br style='mso-special-character:
line-break'>

<span style='color:black;mso-color-alt:
windowtext'>

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