Consider a 50-minute consultation to get answers to your trader tax questions from Robert A. Green, CPA, the author of Green’s Trader Tax Guide. Mr. Green will evaluate your eligibility for trader tax status (TTS) and discuss wash sales, the Section 475 election, entities, employee benefits, and other trader tax issues.
The consultation covers:
- Assess trader tax status (TTS) eligibility for 2021 and year-to-date 2022. With TTS, you can deduct business, start-up, and home office expenses on a Schedule C. No election was required for TTS, whereas Section 475 mark-to-market accounting requires an election.
- Review TTS expenses for 2021 and 2022 and how to maximize these deductions.
- Tax treatment for securities, Section 1256 contracts, cryptocurrencies, etc. Tax treatment varies considerably based on what you trade.
- Dealing with disallowed wash sale losses (WS) on broker-issued 1099-Bs. The essential issue is what WS is open at year-end.
- With a Section 475 election on securities, avoid wash sale losses and the $3,000 capital loss limitation and perhaps qualify for a 20% qualified business income (QBI) deduction. April 18, 2022, was the deadline for existing individuals to elect 475 for 2022. A new entity can adopt Section 475 within 75 days of inception.
- Segregate trading vs. investing in improving tax results.
- Determine whether an entity is valuable for you and which entity might be best for tax benefits.
- Discuss high-deductible retirement plans for TTS traders using an S-Corp.
After the 50-minute consultation, Mr. Green will email you a memo with his notes and suggested next steps. The meeting time will be up to 45 minutes, and he will spend 5 minutes preparing the email memo.
After purchasing this service from Green & Company, Inc., see the Download PDF and email receipt. Click that pdf file for instructions, including links to Robert A. Green’s online calendar scheduling a time at your convenience. Meetings are by phone, Skype, or Zoom. There are plenty of appointments available after April 18, 2022
If you have any questions, don’t hesitate to contact us at firstname.lastname@example.org.
Robert A. Green, CPA
CEO, Green & Company, Inc.