Forex
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07-29-2008, 01:06 AM
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Trader tax status”unlocks business expense deductions
If you want to deduct your trading expenses as ordinary –just
like forex trading losses –you need to qualify for “trader tax status”(business treatment vs. the default investment treatment). •Business treatment gives full ordinary loss deductions (including home-office, education, start-up expenses, margin interest and much more), whereas investment expenses are very limited, only allowed in excess of 2 percent of Adjusted Gross Income (AGI), and not deductible at all against the nasty Alternative Minimum Tax (AMT). •The average trader saves more than $10,000 with trader tax status, and hedge funds save a fortune for all their investors.      
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| forex, taxation, tips, trader tax status |
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