So as I plan for this upcoming year and still testing and deciding what tools I'm going to be adding in 2010(i.e. filters, news service, charting software, educational resources) the necessity for me to understand how these can be used as deductible business expenses become increasingly more relevant.
I really need the deductions because on average I spend over $100 a month on trading related services.
I'll probably look to form an LLC in 2011 after the Bush tax cuts expire and there will probably be more need for me to shelter my income.
Here's a great article that I believe sums up the very gray IRS tax laws for traders v. investors:
http://www.greencompany.com/EducationCenter/TradersExpoCAJune2009GreenTaxArticle.pdf
Another:
http://www.tradersaccounting.com/product.php?productid=16174&cat=250&page=1
No comments:
Post a Comment