HOW TO SAVE MONEY IN TAXES TRADING FOREX | WHAT TO EXPECT



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30 thoughts on “HOW TO SAVE MONEY IN TAXES TRADING FOREX | WHAT TO EXPECT

  • August 24, 2021 at 3:52 pm
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    I just want to say. My best friend the one who asked to make this video. & bruh did it instantly. When my trading str8 im only joint doyle. Real genuine dude. Stay blessed king

    Reply
  • August 24, 2021 at 3:52 pm
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    If ur in the uk like me then im pretty sure an LTD is similar to LLC but u can still register as an s corp i think not to sure tho x
    great vid tho bro most ppl dont say what to do when ur makin alot of money on forex

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  • August 24, 2021 at 3:52 pm
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    Also gotta get with the right bank. Not all banks will allow us to open a business account for trading. Bank of America is probably the most business friendly bank for trading. I've tried others and they were tripping.

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  • August 24, 2021 at 3:52 pm
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    Micro futures are a much more “to-the-point” and legal product. Not to mention predictable

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  • August 24, 2021 at 3:52 pm
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    Thanks for this video! So before we go full time we are filling the LLC as trading business?

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  • August 24, 2021 at 3:52 pm
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    I’m 17 and just got funded I wanna do this full time it’s dope your uploading vids like this ty bro I appreciate it

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  • August 24, 2021 at 3:52 pm
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    How much is the difference that would be Cool to See. And do some traders to it on Turbo Tax lol

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  • August 24, 2021 at 3:52 pm
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    Cool Hair you should highlight the ends at some point then you can add colors. If you open an LLC does it have to make money like What kind of LLC's are possible that part of it confuses me.

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  • August 24, 2021 at 3:52 pm
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    This video definitely came right in time and Is well needed before IRS come knocking. Thanks so much. Love the content !

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  • August 24, 2021 at 3:52 pm
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    Never tell banks you trade cause they're not familiar meaning in other words its unrealistic. Always say an investor

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  • August 24, 2021 at 3:52 pm
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    Good advice fam. Definitely something to think about. I had only breezed by the idea of how taxes would work when I finally trade regularly but to actually flesh it out as you did, puts the focus where I need it. Thanks for dropping this one.

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  • August 24, 2021 at 3:52 pm
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    So true, make sure you can make trader tax status. You'll be able to write off your loses if you qualify for it.

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  • August 24, 2021 at 3:52 pm
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    Can you write your losing trades off on taxes? Kinda like the way other businesses write off their overhead.

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  • August 24, 2021 at 3:52 pm
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    Peace bro. I've been wanting to get with a CPA but i know they charge a lot. did u find one with a good rate?

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  • August 24, 2021 at 3:52 pm
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    My biggest question is to form a LLC dont you have to offer some sort service or sell something?? To make it a "legit" business and prevent audits from the irs or can you form one by only trading and offering nothing??

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  • August 24, 2021 at 3:52 pm
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    You can save even more money trading future contracts. Look up the 60 40 tax rule.

    Reply

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