POLL: What is your primary Tax Minimization method?

POLL: What is your PRIMARY Tax Minimization method?

  • Considering or use [b]Unemployed[/b] status and all my profits are capital gains

    Votes: 6 11.1%

  • Considering or use my [u][i]IRA[/i][/u] to trade

    Votes: 4 7.4%

  • Considering or use an [b]LLC/S Corp[/b]

    Votes: 9 16.7%

  • Considering or use [u][i]Professional Trader[/i][/u] status

    Votes: 8 14.8%

  • Considering or moved to a [b]lower tax country[/b]

    Votes: 6 11.1%

  • Considering or use [u][i]tax free/tax efficient[/i][/u] instruments

    Votes: 3 5.6%

  • Considering or use [b]losses[/b] to offset other gains

    Votes: 3 5.6%

  • Considering or use a [u][i]knowledgeable CPA[/i][/u]

    Votes: 7 13.0%

  • I have a friend who is considering or uses [b]tax evasion[/b]

    Votes: 6 11.1%

  • Considering or use [u][i]something else[/i][/u]

    Votes: 2 3.7%
  • Total voters
    54
Quote from hwkaiser:

Could you please expand on the benfits to futures.

I read elsewhere that they are taxed 60% long term capital gain and 40% short term (or vice versa). Is this correct?

Thank you,

I personally prefer the positive P&L :)
More...

Futures are marked to market daily = realized gain/loss = no tax advantage.

The benefit of the 60/40 election is that you can claim a loss higher than the typical $3,000/yr capital loss.

Blowing up an account or two will also ensure you do not have to pay tax for some time.
 
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