Has anyone used GreenTraderTax?

Discussion in 'Taxes and Accounting' started by JPB, Feb 27, 2002.

  1. JPB


    I am looking for someone to do my taxes and help me with electing mark-to-market for this year. Has anyone used these guys and have any feedback (good or bad) or have any other recommendations? I tried talking to a regular tax preparer and I had to explain the wash sale rule to her, so I'm looking for someone a little more knowledgeable.


  2. Just a note. If you are a trader, you should use a tax professional who is familiar with schedule C deductions for traders, derivatives,
    market to the market positions and wash sale rules. Ask a fellow trader you know who they use locally. Keep at least three years of your sheets(P&L, confirmations). If it is Excel or similar format, it will make your tax returns easier to complete. Keep all reciepts for office supplies and equipment. Note serial#'s on computers and other equipment that you may want to depreciate or write off. If you can't find a professional in your area, see these sites:




    I have no affilation with any of these sites.

    Gene Weissman
    Lieber & Weissman Sec., L.L.C.
  3. JPB


    One more question:
    I would rather use somebody I could see in person. Does anyone know of a trader-friendly tax professional in Phoenix, Arizona?

    Thanks again,

  4. Yannis


    I have worked with Bob Meany at www.edaytradertax.com and have been very happy with his knowledge and professionalism.
  5. I heard him speak candidly and at length at the Nasser booth, and it turns out that he was informative and generous with his time. He's got the hardcore New York, no-bullsh*t attitude and claimed that the speaker from a competing trading firm (who had a presentaion on the stage-floor and I can't remember the name of the company) was WRONG on several tax issues.

    He claimed to correct the competitors' allegations on his website, within a few weeks. He was the last speaker at the marketwise school booth at the expo, and Nasser had to cut his talk short, since everyone was asked to leave the convention floor after 5PM. It was a bummer, because he had lots to say and wasn't even given a working microphone from which to speak. But he didn't care...he was screaming from the bottom of his diaphram so that everyone in the back would hear his message. It was interesting to watch him....he said that the other trading tax venues would have their traders audited with their suggestions of claiming income on Schedule C from their short-term traders (or something along those lines. Please don't quote me).

    So, what happened is that instead of finishing and packing his stuff to go home after Nasser abruptly ended him...he resumed his talk for another 20 minutes on stage-right...until security kicked all of us out of the convention floor.

    I would go with him. I think he did the accounting for the Datek folks, since he demonstrated something on his website that had their name on it. He mentioned that instead of Datek button being there, it would have the Nasser's name on it.

    I'm confident that if David Nasser's company is working with him...he's gotta be the best out there.

    The thing I liked best about his services, is that he will take your calls for FREE, if you have any questions. So, even though, he's not someone you can see tet-a-tet, I would take advantage of the free consultation phone call. It's better than having a local accountant, fail to mark-to-market your account for tax purposes. Don't know that M-t-M is, yet? Well, that's something I learned from Green.

    I will use him, whenever I begin to trade.
  6. alanm


    Great info. Who are you talking about? :)

    Someone else posted about H&R Block, maybe on a different thread. I'd guess that you would be pretty lucky to find someone that specialized in traders at your local HRB office. There might be someone in the company somewhere, but it's probably a pretty narrow specialty. You're more likely to get talked into using someone that will just try to "wing" it, no?
  7. JPB


    The tax preparer I had to explain the wash sale rule to was from H&R block.

  8. I wasn't talking about any H&R rep...I was referring to www.greentradertax.com. He's the CEO and CPA of that company.

    Funny, I thought I was contributing to the subject heading of this thread. :cool: Namely, "Has anyone used GreenTraderTax?"
  9. JPB


    The confusion came from someone talking about Bob Meany two posts above yours. When you said "him" it seemed like you could have meant Bob Meany, not a website (Greentradertax). Thanks for clearing it up. I'll probably go with Green.

    #10     Mar 5, 2002