Tax question

Discussion in 'Taxes and Accounting' started by Bluegar3, Jul 9, 2008.

  1. Bluegar3

    Bluegar3

    if you are paying someone say 10,000 to trade for you, and say you make 50,000. You get to deduct that 10,000 right off that 50,000 right?
     
    #1     Jul 9, 2008
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  2. Surdo

    Surdo

    Not exactly...different tax forms.

    -Trading is a capital gain, (Long/Short term)
    -Payment for services such as an atty, cpa, etc... are business expenses.

    Get a CPA!
     
    #2     Jul 9, 2008
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