I'm terrible at recordkeeping for expenses,so I don't take all the deductions to which I am entitled. I don't take a home office deduction, I don't deduct my cable bill, and many office supply receipts get lost. If this costs me an extra couple grand per year, I figure I spent maybe $75 / hour or less to watch TV, party, etc, instead of recordkeeping. It's worth it to me. I can't stand being organized, although I do enjoy learning the tax law and understanding it. Ask anyone who knows me about the state of my home office and you'll get a great laugh.
You are not alone. "The hardest thing in the world to understand is the Income Tax". -Albert Einstein (1879-1955)
if this new savings plan that bush purposed passes it will be the ultimate trading vehicle imho. i urge every trader to contact their representative and lobby for this plan. it isn't often they do something good for traders. http://www.thestreet.com/funds/beve...n/10066365.html "Roth IRAs require that in order to contribute $2,000, investors must have at least $2,000 in earned income. With the elimination of the earned income requirement, parents not only can sock away $30,000 per year per couple, but also another $15,000 per child. "