Mark-to-Market Makes a Magical Difference for Most Traders

Whenever we consider the benefits of trader tax status, the one item that tops the list is the ability to elect a special accounting method known as mark-to-market, or MTM for short. Whenever we consider the benefits of trader tax […]

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Lost in Translation: Foreign Exchange Tax Codes

Remember that hit movie “Lost in Translation,” in which a clueless Bill Murray wanders dumbstruck through the foreign and thoroughly baffling world of modern-day Tokyo? Remember that hit movie

LLC + C Corporation = A Tax-wise Combination

Incorporation has many advantages for traders who want to grow their wealth by reinvesting profits and deducting trading expenses with a firm conviction that there is tax law

Don’t Be Hung Out to Dry By Wash Sales

The Internal Revenue Service loves to tax capital gains, but they are just as diligent to disallow capital losses that might offset those lucrative cash cows. Case in

Best Way to Avoid Cardiac Moments? Accurate and Timely Trade Accounting

Put yourself for a moment in the shoes of one Anna E. Charlton, an adjunct law professor at Rutgers University who, along with her law professor husband Gary

You Say You’re a Trader? Be Prepared to Prove It to the IRS!

The first and perhaps biggest hurdle that every new trader faces come tax time is to convince the Internal Revenue Service that you are, in fact, a professional