Find a CPA that you know through someone. They will put you in front of others and PAY THEM WELL. My CPA has given me incredible advice on many occasions, from owning cars to making small changes in my trading routine that have huge benefits.
The best people to answer this question are people on the broking side of the business... they have access to all the accounts. Anyone from the broking side (or used to work on the broking side) wish to add any stats here...?? I knew a guy who was very friendly with a guy who was senior at a large retail brokerage... The numbers I heard were indeed around the 90% of retail traders lose money number...
The answer to this question has been carefully discussed by academia .... look to the work of Terrance Odean for enlightenment.
I think people dont like talking about taxes in general. Even if you are profitable and pay your full taxes. Its not a pleasant subject. Even if you have a scheme that means you pay little or no tax you probably dont want to talk about it either..
Quote from cold: is that regardless of country, if there were more REAL traders here, there would be more tax discussion overall You're an idiot. "Winners" are not the only ones that file taxes. Nor are "REAL traders". Losers that trade part time ALSO file taxes. Look up non sequitur and marvel at your brilliance. Besides, do I really want tax advice from Elitetrader? I want tax advice from my accountant. As apparently you can't afford an accountant such that you need to be trolling message boards looking for advice and complaining when you don't get it, what does that say about your "real trader" status? AND finally, if you have "bad" years, well you just told us of your trading knowledge, didn't you STOP THE PRESSES. Trading for several decades might lead to having more than one losing year! What a CONCEPT. Obviously someone with trading knowledge NEVER loses. Welcome to my ignore list, idiot.