How much taxes do you pay for Daytrading?

elitenapper said:
Austin has some of the highest real estate taxes in Texas. I'd imagine rates are far lower for ranches in remote areas, e.g. near the Big Bend National Park (my favorite park).



You are referring to capital gain taxes right .. since all commissions and fees can be reported as expenses.
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Data fees, make sure you get CME/CBOT as you want keep eyes on Meats/Grains, equipmenet, build yourself one hell of an office in your barn overseeing fishing pond you put in stock with trout that you charge by the inch over weekends for the "gamesmen" and their kids. LOL The office is part of the barn and depreciated with the farm on structures. The commissions and fees are taken off the trades usually, I don't know if they still have brokers where you pay a lump sum for futures then fees, never sounded right and I never did it. You can build a 3 hole golf course, not open on Tuesday/Wednesdays(for you) and open course other days. Do need some moola for course.

Yes, Big bend fun. Austin is BOOMING as it is new silicon valley and State capitol so have to expect it.
 
Yes, In Canada, you pay income tax on Day Trading. That's why day trading is generally not a good idea. Not only do you have to beat buy and hold (which generates an average of 7-8% a year), but you have to beat buy and hold by a lot to make up for the tax disadvantage.
 
Troy Bombardia said:
Yes, In Canada, you pay income tax on Day Trading. That's why day trading is generally not a good idea. Not only do you have to beat buy and hold (which generates an average of 7-8% a year), but you have to beat buy and hold by a lot to make up for the tax disadvantage.
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Day trading is only a bad idea if you are not good in it. If you are good in it is even a very good idea. Even with a 50% taxation it is a piece of cake to beat the 7-8% a year of the buy and holders.
 
schweiz said:
Day trading is only a bad idea if you are not good in it. If you are good in it is even a very good idea. Even with a 50% taxation it is a piece of cake to beat the 7-8% a year of the buy and holders.
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your calculation is inconclusive because it does not include income that you could receive from an alternative job +the buy and hold increment ,
 
Handle123 said:
Data fees, make sure you get CME/CBOT as you want keep eyes on Meats/Grains, equipmenet, build yourself one hell of an office in your barn overseeing fishing pond you put in stock with trout that you charge by the inch over weekends for the "gamesmen" and their kids. LOL The office is part of the barn and depreciated with the farm on structures. The commissions and fees are taken off the trades usually, I don't know if they still have brokers where you pay a lump sum for futures then fees, never sounded right and I never did it. You can build a 3 hole golf course, not open on Tuesday/Wednesdays(for you) and open course other days. Do need some moola for course.

Yes, Big bend fun. Austin is BOOMING as it is new silicon valley and State capitol so have to expect it.
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Don't forget the University of Texas and vibrant music scene..re Austin.
 
zdreg said:
your calculation is inconclusive because it does not include income that you could receive from an alternative job +the buy and hold increment ,
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Wrong, in the timezone where I live I can have a full time job and daytrade. I don't have to give up a job to trade. Besides returns are a multiple higher then the 14-18% I should make.
As you don't have any idea about my daytrading income you can't even make any sensible calculation.
I don't need a job as full time trading makes enough money. Even after deducting an average yearly salary from my trading profits I still beat buy and hold hands down.
 
zdreg said:
true, but holding down 2 jobs changes the parameters.
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No, because I have no job, just full time trader.So your statement is wrong for my personal situation.

Your assumptions are only true for those who don't make enough money in daytrading. But you think that everybody is in that case. What you suggest is that NOBODY can make enough. On which ground?
Theoretically you can make more with daytrading included the lost of potential income from a job, or you can make less.
 
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