Forex Market & Taxes question// How do I lower my tax obligations?
Nov 19, 2014 at 19:41
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2 Replies
Miembro desde Jan 15, 2014
posts 30
Nov 19, 2014 at 19:41
Dear tradersFX: Do any of you guys know how to offset your tax liability by forming a company? I dont know anything about this. You hear of people doing this kind of thing all the time but I dont know how to do it or what type of compnay to form. I am looking for suggestions. FX trading brings about an heavy tax liability. It almost like having a trade going against you after you make your profits. In the usa you must pay 30% in tax. This is huge. Please help.
Its a struggle out here to make profits.
Its a struggle out here to make profits.
Nov 21, 2014 at 07:49
If/when to form a company, as well as which type to form, can be very complex and is unique to each person. Finding a reputable CPA, who specializes in trading, would be the best person to contact. They can learn about your particular situation and recommend the best configuration to protect you.
I used to try to do it all myself. It was agonizing and I never knew for sure if I was doing it correctly. Paying a CPA who specialized in trading really allowed me to focus on what I like... trading!
I used to try to do it all myself. It was agonizing and I never knew for sure if I was doing it correctly. Paying a CPA who specialized in trading really allowed me to focus on what I like... trading!
The Trend is your Friend. ~~
Miembro desde Jan 15, 2014
posts 30
Nov 21, 2014 at 11:26
thanks for the insight and help. Some of us have had no idea how to correctly pursue this thought,.
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