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Archive for the ‘Trading & Investing’ Category
By: Jason Derbyshire, TradeLog Blogger
Did you know that the Schedule D will look a lot different for 2011? In fact, traders and investors reporting capital gains and losses will have a NEW Form 8949 that must be filed along with the new Schedule D — some individuals may have as many as three different forms, depending on their trade history and broker reports. We have created a new resource page regarding New Forms for Reporting 2011 Taxes which will help you be informed of the new changes with the Schedule D and how they will affect you.
Four Things Every Trader Needs to Know About Taxes — Part 2: Popular Tax Software is Not for Traders
19Jul
Author: TradeLog Blogger 0 comments
By: Jason Derbyshire, TradeLog Blogger
This second part of our four part series explores popular tax software and some warnings for traders and investors. Many people are shocked when they find out that some of the most popular tax preparation software is unable to accurately generate their Schedule D! Programs like TurboTax® and H&R Block At Home® are designed for the ‘average’ American tax payer. Active traders and investors must comply with some of the most complex tax rules for filing Schedule D – and such made-for-the-masses software simply was not designed for such purposes.
By Melina Triplett, TradeLog Support Agent
With so much talk about the economy, debt ceiling, taxes and spending, it is important that traders understand the capital gains tax rules that affect them. In this article I’ll review the current tax cuts that traders and investors benefit from, as well as the future standing of capital gains taxes beyond 2011.
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By Joey Dixon, TradeLog Support Agent
Most CPAs and trading accountants dread tax time! They don’t have the same perks as the average Joe who can file a W-2 in 20 minutes by using a popular tax software package! Instead, trading accountants have to undergo the grueling process of piecing together every trade for the tax year being filed. This is why the pricing of professional accounting services has dramatically increased over time. Of course, this does not mean that you should assume that filing your own taxes is the answer. There are clear advantages to choosing a good professional trading accountant as discussed in the previous article. However, as a user of TradeLog trade accounting software, you can compromise by assisting your CPA in filing your taxes, which can save you time and money!
Four Things Every Trader Needs to Know About Taxes
Part 1: Broker P&L Reporting
23May
Author: TradeLog Blogger 2 comments
By Jason Derbyshire, TradeLog Blogger
Have you seen the new TradeLog home page? We have enhanced our message to focus on four things that every trader needs to know about their tax reporting. So many traders don’t understand these important points, and the result is many inaccurate tax filings, and high audit risks for traders. In this series of four articles we will provide you with more in-depth information that you need to know. For part one we will discuss why broker P&L reporting is not for tax purposes…
By Joey Dixon, TradeLog Support Agent
For decades there have been qualified accountants available to assist in filing individual and corporate taxes. While many people now use popular tax software to file their own taxes, there are still a good number who rely solely on a CPA to prepare their tax filing. If you are a trader or investor and are thinking of using or currently use a CPA, there are some things you should know that some CPAs don’t want you to know…
Procrastinate No More: 10 Tips for Taxes and Time Management
30Jan
Author: TradeLog Blogger 0 comments
Its tax time again! What I find amazing is the amount of procrastination that occurs this time of year. Benjamin Franklin reminded us that along with death, taxes are inevitable. And we know every year at April 15th we have to file. Yet, many of us still put it off as long as possible, perhaps hoping it will just go away!
Following are ten tips to help you stop procrastinating and get your taxes done: More