Tips for Professional Traders Getting Ready to File 2021 Tax Returns

Discussion in 'Taxes and Accounting' started by Robert Morse, Jan 5, 2022.

  1. Robert Morse

    Robert Morse Sponsor

    https://www.lightspeed.com/webinar/...aders-getting-ready-to-file-2021-tax-returns/
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    REGISTER NOW!
    Wednesday, January 12th, 4:30PM ET

    LIGHTSPEED CUSTOMERS CAN GAIN PROFESSIONAL INSIGHTS TO MAKE 2021 TAX RETURN FILING EASIER.
    This webinar offers active traders a professional outline of steps to prepare for the tax return filing season ahead.

    Join CPA Robert A. Green from Green, Neuschwander & Manning, LLC, as he shares insights and information to help you file your 2021 federal tax returns timely and accurately in 2022.

    • Learn how traders, eligible for trader tax status (TTS), maximize business, home office, and startup expenses using critical tax-reporting strategies.
    • Don’t solely rely on broker 1099-Bs: There might be opportunities to switch to lower 60/40 capital gains rates in Section 1256, use Section 475 ordinary loss treatment if elected on time, and report wash sale losses differently.
    • Learn common errors on TTS traders’ tax returns, which can lead to an IRS or state exam.
    • Learn tips for filing extensions and paying taxes.
    • Learn how new tax legislation impacts 2021 tax filings for traders.
    Robert A. Green is a CPA and founder and CEO of Green & Company Inc. (GreenTraderTax.com), a publishing company, and Managing Member and Founder of Green, Neuschwander & Manning, LLC, a tax and accounting firm catering to traders and investment management. He is a leading authority on trader tax and a Forbes contributor. He is also the author of The Tax Guide for Traders (McGraw-Hill, 2004) and Green’s annual Trader Tax Guide. Mr. Green is frequently interviewed and has appeared in the New York Times, Wall Street Journal, Forbes, and Barron’s. He is the chief tax speaker at the MoneyShow University and Traders Expo. Mr. Green presents tax Webinars for Interactive Brokers, TradeStation, Lightspeed, and other leading brokerage firms.

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    Lightspeed Financial Services Group LLC does not hold itself as a tax expert. Regarding any tax related information contained within this webinar and any other tax related items, please consult with your tax advisor.

    Lightspeed Financial Services Group LLC is not affiliated with these service providers. Data, information, and material (“content”) is provided for informational and educational purposes only. This content neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities. Any investment decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Lightspeed Financial Services Group LLC does not endorse, offer or recommend any of the services nor information provided by any of the above service providers and any service or information used to execute any trading strategies are solely based on the independent analysis of the user.

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  2. speedo

    speedo

    Anyone not using a trading savvy CPA or Tax Attorney, listening to Robert Green is highly recommended. He's one of the best in the business.
     
    murray t turtle likes this.
  3. %%
    Good points;
    even though penalties + interest most likely apply even with an official extension...............................................................................Forbes = good read also.
     
  4. mervyn

    mervyn

    well, green doesn't take small accounts.
     
    murray t turtle likes this.
  5. %%
    YOUR old tax returns maybe a gold mine also;
    not that i would expect an exact repeating pattern:D:D Prefered CPAs/ even though have gotten some good ideas/patterns from a good tax lawyer book............................................................................
     
    speedo likes this.
  6. Robert Morse

    Robert Morse Sponsor

     
    murray t turtle likes this.
  7. %%
    Good;
    Money Magazine, older issue had some good ideas\including but not limited to Goodwill guidelines for gift clothes, it was more than i would have guessed. I did not take that deduction this year, but have done stuff like that in past.
    Most likely could deduct mileage to a trading office office/ but as the CPA said\said ''dont buy a big car + try to write that off with a home office'' LOL
    :D:D:D:D:D:D,:caution::caution::caution: