Traders are doomed with the IRS

Quote from Bob111:

the 'new' 1099B was same as it was year ago. they(IRS) changed format 2 years ago. where have your been? there is nothing new in it.
same s**,just more detailed. that's about it. if you try to do your taxes by yourself using any retail tax soft-you will be much more confident and knowledgeable about it. you have to know your taxes.

don't know about you,but this-



is not in my vocabulary. i know how much i paid and how much i might own. UP to +/-100$. and i'm just a regular guy(not even born in US),not CPA or something.
since IRS made those changes-it got a bit more complicated,but still manageable. even for average joe-the trader :)
btw- it's always good to know the numbers on those forms,cause your broker might be wrong sometimes. i've found few transactions,reported as short term,while they are over 1 year long and should be taxed differently. saved me about 500$ right on spot.
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I am a few years behide was overseas working

so much to worry about in trading and taxes it's all getting to
complicated...and if you make so much you better start paying every quarter too... :confused:

a nice simple flat tax would be so nice and simple!:)
 
Quote from Bob111:

or quit trading all together. even more simple!
like those guys from india or whatever..
A+Sadhu+in+V_r_nas__+India.jpg


they have nothing . and nothing to worry about! :)
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I'm getting at that age 52 now..that a simple life is best
it seems like the older you get the more simple you want things

less worries is good..maybe soon I will just quit trading
and driving a car and just live off the land and ride a bicycle

:)
 
Quote from bat1:

I'm getting at that age 52 now..that a simple life is best
it seems like the older you get the more simple you want things

less worries is good..maybe soon I will just quit trading
and driving a car and just live off the land and ride a bicycle

:)
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yep. cause you became wiser and understand that all those material things like more money ,bigger TV ,latest phone or faster cars aren't make your life better\easier.
 
"How Long is It?"
(The United States tax code)


Every year about this time—give or take an extension—most of us can look forward to spending some quality time with a pile of tax forms and instructions. If it helps, you could think of your US federal income taxes as being like one of the story problems you may have enjoyed back in high school math class...a particularly long story problem.

If you're not one of the three people in your high school who actually did enjoy story problems, this might not be any great comfort, but either way, it does lead one to wonder, "just how long is it?"

You wouldn't be the only one wondering. The length of the federal income tax code (also known as “Title 26” of the United States Code) has itself been the subject of more than a few political speeches by our own Congressional representatives, theoretically the very people responsible for the illustrious Title 26. They had this to say about the prodigious size of the US Tax Code:

"The Internal Revenue Code and regulations now come in at one million words and 9000 pages.":D
 
Quote from Bob111:

yep. cause you became wiser and understand that all those material things like more money ,bigger TV ,latest phone or faster cars aren't make your life better\easier.
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Your right!

I bought a new SS Camaro a few years ago thinking it would be fun and bring my youth back. But it's just been sitting in the garage
collecting dust..


I love trading and the rush I get making a fast buck:D
but that rush is fading fast as I age:mad:

No fear of the Tax man! no fear of not paying my bills
Yes! give me the simple life! but even that takes money:mad:
 
Quote from bat1:



I love trading and the rush I get making a fast buck:D
but that rush is fading fast as I age:mad:

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i'm personally think that it's a kind of man thing.to me- it's not even about the money. it's about-i can do it. and about -i'm right!(or wrong). the challenge itself.
and it's straight forward thing. you right-you got paid on the spot. you wrong-you pay. fast, plain and simple.
 
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