Trader Tax

Discussion in 'Taxes and Accounting' started by setfre, Mar 5, 2002.

  1. setfre


    I have looked in vain for someone (CPA, NAEA, HR BLOCK etc)
    who has experience with tax return for "Securities Trader"
    and filing a "Mark to Market " election.

    Who can help me find one or preparing these things ???

  2. Sapient



    I use a CPA in the Detroit area. His name is Al Solomon. He also does Gary B. Smith's taxes from Gary lives in Maryland so you do not have to be in the Detroit area. He put together a corporation for me when I decided to become a full time trader. He has many traders as clientele. Sapient
  3. JPB


  4. I know their now in the securities business but don't they still do tax stuff?

    Tax business and securities business..hmmmm...sounds like they could definetly provide some good tax tips.

    Meant to also say...if H&R Block still does taxes...aren't they located all over the U.S.A.

    Thus, shouldn't be hard to locate one near your location.

    H&R Block office locator at:

    Nihaba Ashi
  5. Lancer


    DAYTRADINGSTOCKS.COM/TRADERSTAXES.HTML: Long list of tax resources (links), both for traders and in general.

    DAYTRADERTAX.COM: Mann & Company CPA; (Paul S. Mann, CPA); Trader tax preparation ($375 - $750) and consultation; has for-fee trader tax guides and books; discussion forums. Core CPA practice is providing tax planning and preparation services to traders.

    EDAYTRADERTAX.COM: (Robert M. Meany CPA & Associates) TNMB promotes. Owners are traders.

    FAIRMARK.COM: Fairmark Press; Tax guides, books, message board. Tax guide for traders. Roth IRAguide. Information on Estimated Taxes.

    GREENCOMPANY.COM; also GREENTRADERTAX.COM; also TRADERTAX.COM: Bob Green, CPA (regular tax writer in Active Trader Mag.). Publishes Green Trader Tax Guide for traders and investors. Has extensive tax info. on site. Excellent. Also has GTT TradeLog software.

    TERRANOVA-MB.COM/MANN/: Tax information and links to info. for TNMB clients. By Mann & Company CPA ( TerraNovaOnline Tax Center.

    TRADERSACCOUNTING.COM: Tax attorneys and accountants; Does accounting and tax prep, tax reduction planning, entity structuring, trader status analysis, etc. Has seminars, educational tapes. Site info. includes FAQs, misc. info., newsletter archive, links. Has free Excel spreadsheet to keep trade records.

    TRADERSTATUS.COM: Colin Cody CPA firm. Focus on saving taxes for traders. Tax info., free newsletter. Links to tax sites.
  6. David I

    David I

    Along with the great links posted by others I also have this one in my list: - Ted Tesser's Waterside Financial Services firm. Ted is author of The Trader's Tax Solution and authored articles in Active Trader as well.

    - David
  7. Lancer provided some excellent links. Only a rank amateur would go to H&R Block. They are like an agent of the IRS. Because they guarantee to pay all penalties, they error on the side of giving too much to the government. Their agents who are generally non-professionals, looking for some extra cash and are trained in a couple of weeks. They could cost you some big dough. Usually they have very little experience, if any with serious traders. Anyone using them gets what they deserve.


    "What is , is. What isn't, isn't. So you might as well go with what is. Its the only game in town."