; incompetents

Discussion in 'Professional Trading' started by automated, Jan 20, 2011.

  1. Any one looking for accountant specializing in traders, don't hire ""

    Just got done talking to them, "the 30 minutes free consultation" (i definitely did not want to tak the whole 30 minutes, because after 5 minutes i knew he had no idea what he was talking about).

    Told me as an individual trader, not claiming trader status, reporting my capital gains on Schedule D, form 1040, I would be liable for self employment tax on the gains, "if you took the money out". Even after telling him over and over that I don't trade as an entity, it is schedule D gains, etc etc he continued to tell me "if you take the money out" you pay Self employment tax. If he does not even know that 1040 income is already my income and is already "taken out".

    Shows me, how much they know.

  2. Wilt


    Thank you for the warning.