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Steve Schnake wrote:
> Dan,
> I trade from a home office.
> You can deduct just about all expenses incurred in your attempt to
> trade
> the markets,( as long as they are tools to help you trade), including
> data
> provider exp, mag. subscriptions(must be relevant), educational
> materials,
> trading software, portion of home expenses(for home office; ask your
> tax
> preparer). You can deduct your computer and maintenance expense,
> internet
> access, if they are used soley for trading(i.e. to gain the knowlege
> that
> influences trading decisions. I mark and itemize all related
> phone/fax/download communications with a highlighter and total and
> file
> them monthly.
> Anything else, people?
>
> Steve
> ----------
> > From: Daniel O'Moran <moran@xxxxxxxxxxxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: GEN: Futures business as a write-off
> > Date: Monday, July 28, 1997 6:45 AM
> >
> > Hi folks.
> > I'm a new trader. Hope that I can survive (and prosper in) the
> markets
> > long enough to do as well as you people. Does anyone have advice on
> the
> tax
> > implications of being a trader; can I write of my cost for
> end-of-day
> data?
> > How about books/courses on trading? Any insight you could provide
> would
> be
> > appreciated.
> >
> > Thanks
> > ::Daniel O Moran
>>>>>>>>>>>Hi fellow traders, just a note on the subject;
A good reference book on the subject is by TED
TESSER, titled, "the Serious Investor's
TAX SURVIVAL GUIDE" from Traders Library,1993;
re: Chapter thirteen, The
Business of Trading.
>>>>>>>>>>>I'm sure there are many others, but this one may help
somewhat for those of us serious
(or crazy) enough to want to trade for our
living.
You'll have to look around for qualified
accountants and tax advisors who are knowledgable
about the trading game. Many are Not.
>>>>>>>>>>>Anyway, happy and profitable trading.
Aloha, Wayne P.S. and Dan,
good suggestion; I'm a home office trader also.
Cheers. (^o^)
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