Day trading in Canada Vs US

are commissions considered as expenses?

lets say you have 20K in commissions to generate 100K, does one pay taxes on 100K or 80K?

Thanks
 
Quote from hedgeking:

thats bs. unless you live in nevada you can't file your taxes there. the old scam of opening a p.o. box or a sham small office and then claiming las vegas as your residence to avoid your own states income tax is very very dangerous.

in case you have forgotten canada is another country. canada is not another state of the US

if I was you i would not be giving tax advice or any other advice.

this is all nonsense since he doesn't have a pot to piss in.
 
Quote from snoop101:

woow ok. So I pretty much figured that most traders traded on NYSE or Nasdaq for the volume as TSX does not produce enough volume. As of now I am going to be working at home and working with a prop company that has a 15:1 ratio and will only take 30% (which seems fair compared to others) Im assuming I will be able to write off my computer, internet, and software fees of $250. Am I able to write off any schooling I would do that would relate to trading? Should I be starting to look for an accountent that specializes in investing?

don't you have to take an exam before trading at 15:1? are they going to sponsor you?

what is the name of this co.?
 
don't you have to take an exam before trading at 15:1? are they going to sponsor you?

what is the name of this co.?


an exam? im trading for myself, not others. And your giving me advice to give up?

this is all nonsense since he doesn't have a pot to piss in.

what does owning a house have to do with trading? If owned 3 houses then it would make it ok?
 
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