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I've never declared trader status - and I'm not an accountant - but my
long-time understanding is that your accountant is correct. OTOH -
self-employment tax is just one of the considerations you have to take into
account in deciding whether trader status makes sense for you. I suggest that
you find an accountant you trust - sit down with him/her - and go through your
entire financial situation before making a decision. Robyn
Phil Lane wrote:
> several sources on the web are telling me it's not necessary to pay
> self-employment tax if you declare Trader status. Especially if you order
> the book. Sounds great, but the cpa says not really, since it's "ordinary"
> income (just like you get with a real job <g>).
>
> wahhhhh??? (tm goh.com) or what?
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