Looking at ways to reduce your realized capital gains on the year? A strategy investors can use is called tax loss harvesting also known as tax loss selling!
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3 Ways To Avoid The Wash Sale Nightmare!
As you approach the end of a tax year paying attention to the Wash Sale Rule is something that will keep you safe; and avoid being a wash sale casualty. The rule was created to prevent “tax loss harvesting”.
A basic wash sale happens when a security is sold at a loss, then repurchased in a short period of time before or after the loss. The IRS has established the wash sale rule in order to prevent anyone from reducing their capital gains by creating wash sales. The most important time of year for day traders to pay attention to is December & January!
The Top 5 Tax Deductions For Day Traders!
When you level up in your trading career you start incurring pretty significant costs! In this video I discuss the Top 5 Tax Deductions Active Day Traders take!
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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.
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Day Trading With Off-Shore Brokers!
Day Trading off shore can be lucrative for US Residents unable to meet the “PDT” or Pattern Day Trader requirements.
One thing many traders do not know is that there are tax reporting requirements for day trading offshore. In this video I discuss what your tax reporting obligations are!
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Interested in booking a consultation to discuss your situation in detail?
Don’t forget to check out our Day trader Blog Resource Center!