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That is an interesting letter ruling, but it does not specifically address selling short stock in an IRA. The ruling is about a charitable remainder trust. It is relevant in the sense that the IRS appears to support the idea that borrowing stock is not a form of "indebtedness," as that term is...

Fort Myers Beach has some real estate opportunities... FYI the town of Fort Myers Beach is not the same as the City of Fort Myers BMK

Anyone care to agree or disagree with this? I think many of us spend most of our time looking for just this: trades with a high probability of success and also a good risk/reward ratio. But that doesn't mean we actually find them LOL During the original circus that went on with GME, I swore I...

The home office deduction does not allow a deduction for the principal portion of the mortgage. You get to deduct a percentage of the interest, insurance and property taxes, plus a percentage of utilities, and in some cases certain types of repairs and maintenance. You also get a deduction for...

Accumulated earnings tax is generally applicable only to a c-corp, not an s-corp. C-corp is a whole different world. In a c-corp, the corporation pays tax on net profits, and then distributes those profits to shareholders as dividends--on Form 1099-DIV, not on Schedule K-1--and then the...

It can be distributed out of the s-corp to the shareholder(s) immediately, or it can remain in the s-corp to further develop or expand the business. You pay regular income tax, or the special rate for capital gain, in the year in which the income is actually earned--regardless of when it is...

An s-corp can indeed use the 20% Qualified Business Income Deduction that was part of the TCJA legislation. But even without that, there is a much different, much more important benefit to an s-corp. It is closely related to the idea that shareholders working for the company must get reasonable...

Is this a typo? If you've only "heard about" S-corps, then how are you currently a W2 trader? Do you already have an S-corp, and you don't understand how they work? Or do you have a C-corp? Or did you mean to say that you are currently a 1099/Schedule C trader? BMK

To qualify for a home office, the area in question must be used exclusively as an office. So the answer is potentially yes, if the closet space and the entire bedroom are used only for trading. In the old days when traders and other business people had mountains of paper records, it would have...

That's an interesting article. But it identifies only one specific law: Section 9 of the Securities Exchange Act of 1934, which is codified at 15 U.S.C. § 78i. The article contains a link to the text of the law: https://www.law.cornell.edu/uscode/text/15/78i That law contains no criminal...

The weakened, gutted version of the Affordable Care Act is good for health insurance companies. It allows them to do less and make more money. A strengthened version of the law will be bad for health insurance companies. It will force them to do more and make less money. BMK

He is no longer an active registered representative. I'm not convinced it is illegal for him to post. Everyone is talking about jail time. He has not yet been charged with a criminal offense. I haven't even heard anyone--here on ET, or in the media, or at any regulatory agency--identify a...

Keith Gill (aka Roaring Kitty, aka DeepF**kingValue) was a registered representative at Mass Mutual. The media have reported that he quit his job shortly after the whole Gamestop affair began. It is easy to find his history at FINRA BrokerCheck. He holds multiple licenses, including Series 7...

Most people would say that trader and investor are two different things. Do you want to be a trader or an investor? BMK

Take a look at currency ETFs, like FXE, FXB, FXY. There are options on these ETFs, but they don't have a lot of volume. Or UDN, which is an ETF that tracks an index that measures the performance of a short position in the DX futures contract. BMK

It is most definitely NOT a parody website https://en.wikipedia.org/wiki/Poe%27s_law

The article in that link is about an estate tax in the State of New York. It is not about the federal estate tax. BMK

The short answer is yes, because the estate tax applies to the value of assets located in the USA on the date of death. But the real answer is more complicated. If someone is terminally ill and knows they are dying, and they move all their assets out of the USA one week before their death, that...

The original question was about estate tax, which refers to a tax on the value of assets when a person dies. I think you are confusing estate tax with income tax. The estate tax, or death tax as it is often called, is indeed applicable to a person who is neither a US citizen nor a US resident...

@SammyJ I recommend that you read the IRS instructions for Form 4797, line 10. Here's what it says: Securities or Commodities Held by a Trader Who Made a Mark-to-Market Election Report on line 10 all gains and losses from sales and dispositions of securities or commodities held in connection...