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Why do forex forward dealers issue 1099s, yet retail spot forex brokers do not? http://www.greencompany.com/blog/index.php?postid=160 PS. Trust me, we have many clients that pay close to 1k in total for tax compliance work and they are thrilled with our proactive role in finding more tax...

Petition To Fix the Investment Tax http://greentradertax-traders-association1.rallycongress.com/9993/petition-to-fix-investment-tax/?m=758320 Starting in 2013, there are major new Medicare taxes on unearned income including interest, dividends, capital gains, rents, royalties...

The IRS needs to fix their proposed regulations for the Net Investment Tax Blog May 1, 2013. By Robert A. Green, CPA with assistance on tax research from Mark Feldman, JD Traders, get ready to pay thousands of dollars in new Medicare taxes on phantom unearned income in 2013. The IRS...

Full article: House Democrats Reintroduce Financial Transaction Tax by Meg Shreve House Democrats on April 17 said they have reintroduced a measure that would tax financial transactions, and called on Congress to use the revenue the bill would generate to pay for a variety of healthcare and...

House Democrats Reintroduce Financial Transaction Tax House Democrats on April 17 said they have reintroduced a measure that would tax financial transactions, and called on Congress to use the revenue the bill would generate to pay for a variety of healthcare and climate change programs...

Section 1256 contracts are reported on Form 6781, not Form 8949, which is for securities. Both Forms 6781 and 8949 feed into Schedule D where the summary information winds up for generating cumulative capital gains and losses. If futures trades only, you don't have a Form 8949, only use...

Read the postscript on my last blog on the subject. http://www.greencompany.com/blog/index.php?postid=178 April 10, 2013 postscript: A securities Form 1099-B often has an amount listed in box 5 "wash sale loss disallowed." For an active trader, it's typical to see a large number in box 5...

Lew said "unacceptable" on extra-territorial reach. That's fantastic. If the U.S. blocks EU FTT from application in the U.S., I imagine the UK and others will follow suit on similar grounds, although it's harder for an EU member to block it. This block and tackle in the U.S. could be enough to...

Trading gains are not subject to SE tax, with one exception. A futures trader with a full membership on a futures or options exchange. Section 1402i. It doesn't matter if you claim trader tax status or not, use an entity or not, or elect Section 475 MTM or not. Trading gains trigger...

I recall Merkel firmly said EU members that did not support the EU fiscal compact -including a FTT too I recall - would get less help in EU bailouts. Had Cyprus signed on for EU FTT and the fiscal compact (not sure if they did), they may have gotten a better bailout deal. Merkel does enforce her...

When I saw an article yesterday about Slovenia perhaps needing an EU bailout, it occurred to me that the weak PIIGS and other EU members who might need a bailout were pressured to vote yes on FTT to appease Merkel, and to get a better deal on bailouts when they need one. I figured this from the...

Investment management (IM) is entirely different from trader tax status (TTS). IM net income on a Schedule C is earned income subject to SE tax. IM businesses consider S-corp elections to reduce SE tax by 50% to 75%. We cover this in our content. There aren't different options here, the...

Multi-member LLC trading business are better off filing a partnership tax return, rather than making an S-Corp election. The partnership tax return has more flexibility over an S-Corp return. The partnership can pay an admin fee, whereas the IRS prefers officer's salaries in the S-Corp. The...

One way to skip the tax man on trading, is to trade inside a Roth IRA or Roth Individual 401(k) account. Then it's permanently tax free. Or, trade in a traditional retirement plan and don't worry much about trade accounting each year. Just pay taxes on retirement plan distributions when you...

Plenty of traders pay us $1,000 for federal and state tax prep if they are simple and organized. Plus, it's a business deduction with trader tax status. That's not a bad after-tax cost when you consider that we save many of our clients thousands of dollars in taxes and more. Some complex and...

A single-member LLC (SMLLC) is a disregarded entity, a tax nothing in the eyes of the IRS. An SMLLC trader qualifying for trader tax status (TTS) files a Schedule C for their trading business expenses. Trading gains and losses are reported on other tax forms - Form 8949 for securities, Form 6781...

As an American, I read Der Spiegel online at least once a week and I enjoy it very much. I follow German politics. I thought the Free Democratic Party (FDP) - Merkel's junior coalition partner - was in decline and they were the lone voice against FTT. And yes, I see on Wikipedia that FDP is...

If Germany turns more towards liberals, won't that political change spur FTT, as socialists want FTT, as happened in France? If EC-11 FTT is watered down to France's FTT, isn't that still bad for traders who won't win exemption as market makers? If more exemptions are added like for pension...

Didn't recent articles say that FTT in the US and NYS in the 1960s chased the Eurobond market from NYC to London, thereby giving London a huge shot in the arm? Think of all the bankers who moved from NYC and Chicago to London over the years. Almost half the ones I know in NYC have spent time in...