Recent Content by traderstatus

  1. Taxes on "Friends and Family" account

    As you may realize, a way to get out of the wash sales rule is to elect M2M for an active trader. And a passive friend/family member with his own...
    Post by: traderstatus, Feb 14, 2013 in forum: Taxes and Accounting

  2. State Corporate Income Taxes

    Each State has its own rules for allocation. These are usually based on a weighted formula using the amount of compensation paid, the amount of...
    Post by: traderstatus, Jun 23, 2007 in forum: Taxes and Accounting

  3. State Corporate Income Taxes

    While not all 50 US States have corporate income taxes - the corporation, if it had a physical office in each of the 50 States, YES, that would...
    Post by: traderstatus, Jun 23, 2007 in forum: Taxes and Accounting

  4. Do not use tradelog for your taxes

    Many brokers offer a download that either does all the work (IB and Ameritrade for example) or that with a little work with a spreadsheet for open...
    Post by: traderstatus, Mar 23, 2007 in forum: Taxes and Accounting

  5. Llc

    Most anything's possible... but that answer is not really appropriate, because the question is not applicable, really, to a family owned trader LLC.
    Post by: traderstatus, Jan 29, 2007 in forum: Professional Trading

  6. Llc

    IRS Form SS-8 is a starting place if you are not sure if you're talking about employees or independent contractors.
    Post by: traderstatus, Jan 25, 2007 in forum: Professional Trading

  7. Llc

    In all States that I know of YES, W-2 employees result in their employer paying UC tax. Some States might allow a little withholding from the...
    Post by: traderstatus, Jan 25, 2007 in forum: Professional Trading

  8. Llc

    Just because for IRS purposes an entity usually passes thru all tax attributes, it does not necessarily follow that the State and Local gov't will...
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  9. Llc

    You have no argument from me in that situation!
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  10. Llc

    IMO the tax avoidance when it comes to the State location of an LLC is not IRS income tax avoidance. It is State taxes and fees that are the...
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  11. Llc

    Well that's a specific question best addressed with your own tax advisor... but generally it is where the sale is consummated i.e. where the...
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  12. Llc

    Consider that perhaps you might not be availing yourself to all the income tax benefits available to you: No office in the home deduction....
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  13. Llc

    Vinny, if this was directed to my earlier reply... For IRS self-employment and for IRS income tax purposes it generally makes little difference...
    Post by: traderstatus, Jan 23, 2007 in forum: Professional Trading

  14. Llc

    Sorry, somehow part of my typed reply got deleted: Ques. Are self-employment taxes due on income earned by an s-corp or a c-corp? Ans....
    Post by: traderstatus, Jan 22, 2007 in forum: Professional Trading

  15. Llc

    S-corps allow reasonable "non-dividend" non-taxable distributions to shareholders for the return on capital invested, IMO. C-corps allow...
    Post by: traderstatus, Jan 22, 2007 in forum: Professional Trading