Trader Basic Tax Advice

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panterachi

Some call trading a business. So how do we handle it as a business - especially us new people who lost money within the first couple of years?

We may suspect that the trading lessons, and automation are business deductibles that can be subtracted when we have income from our trades, but how do we deduct when what we made was less than what we spent?

I know the MTI/SmartTrader people will say, "talk to your tax advisor", but that person can cost up to $600 for a consultation. Why tell the thousands of people who lost money to spend that much more, when MTI/SmartTrader can hire one person to make a webinar available with the basic initial forms, then suggest a tax advisor for the complicated stuff, each year? It can be set up as a promotional webinar for that consultant's business, or his franchise around the country.

2 years ago

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