tradertaxcpa No Comments

Understanding The Pattern Day Trader Rule

Understanding The Pattern Day Trader Rule (PDT)!

If you’re going to be a day trader, one of the most important things you need to understand in the stock market world is the pattern day trader rule!

The pattern day trader rule can have a major effect on what happens in your trading account, and whether or not you can continue to trade for that matter.

🧟‍♂️ Connect With Me On Social Media! https://linktr.ee/BrianRivera

Interested in booking a consultation to discuss your situation in detail?

Don’t forget to check out our Day trader Blog Resource Center!

tradertaxcpa No Comments

What Documents Should I Provide to my CPA?

If you perform the task of filing taxes on your own it can be very stressful. Trying to find all of your documents? Equally as stressful!  

If CPA’s could gather all your documents for you, we would! Unfortunately we can’t — so we created a safe and secure online portal to help get you organized. Once we on-board you as a client you we will grant you access to our safe and secure portal. You can do everything from a smart phone, Ipad, or computer saving you valuable time! To keep you organized here is a basic checklist to help gather some common documentation. Some items will not apply to you so use this as a general guide.

Read more
tradertaxcpa No Comments

Can Day Trading Profits Affect Your Disability Benefits?

Life happens.

Sometimes life happens so fast that what we have one day is gone the next.  Disability is more common than you might think due to various reasons (military, accidents, genetics, etc.).  Becoming a day trader is an attractive profession for a lot of people because it affords the flexibility to set your own pace.  No bosses, no vacation requests, just you and the markets.

Read more

tradertaxcpa No Comments

Top 5 Questions Day Traders Ask

Now that we are in the last month of the 2017 tax season, we thought we’d compile a list of the most common questions day traders ask!

Question 1 – What is trader tax status  and do I qualify?

Trader Tax Status is a classification achieved through meeting certain criteria established by IRS Topic 429.  With Trader Tax Status the IRS regards you as an active trader and all of your gains and losses become ordinary. Additionally, you can elect Mark-to-Market Accounting.  There is no one size fits all approach as each traders facts and circumstances are different.  If in doubt please consult a professional or schedule a consultation with us, we’d be glad to help!

Read more