Profitable Forex Traders Should Consider This Tax Strategy!

Profitable Forex Traders Should Consider Electing Section 1256 to retain a favorable blended 60/40 tax rate. Being an active day trader its imperative that you take advantage of benefits available to traders!

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🤑 Click Here To View Our Free Day Trader Tax Resource Center🧠

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For Related Videos on Day Trader Taxes:
✅ Why Active Day Traders Should Elect Mark-To-Market
✅ Small Cap Short-Sellers Can Deduct Stock Locate Fees
✅ Tax Strategy Ideas For Index ETF Traders

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Scanz - great for scanning momentum stocks and news
FlowAlgo - great for scanning and spotting unusual options activity

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DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need advice I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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[Iamjacob-xo]

My Broker management strategies got me covered with profits

[dandreginyard]

Your knowledge is very much needed. Thank you for this channel. Im now obsessed with tax laws for trading!

[ThugBoiKing]

I started trading on mt4, so let's say I made about $3000, and I send the $3K from my broker to cash app/coinbase and then sold $3000 BTC for USD. Do I still got to pay taxes on that?

[NOBOCON]

Great info. Clear and concise.

Thank You

[msdebbiekay]

You are an excellent presenter of information. Thank you so much for this info.

[CHEETAHGD]

Thank you for this video! I would love more content about forex tax strategies ☺️

[thefirstassistant]

Hello sir. I have a question. What if u r using a broker that doesn't accept US residents and u r one of them but u r using it somehow!. When it comes to taxes is that can be a problem paying them?. Thanks

[zoeymchall]

Having a trading plan is essential for every trader. Trading with Mrs Monroe's platform and understanding its unique premise could help you formulate better your own trading plan.

[lionelperez]

Wow..really great informative video bro .. thanks

[superglen]

What if you have automated trading bots? How do taxes work for that? Since it's not you trading but it's still your money and your profits.

[tlaury]

Hi Brian! Thank you for sharing this information. I have a question regarding trading other peoples money. Myself and my brother have a trading company and we have done well over the past couple years. People see our success and want us to trade their money. My question is, do you need a license to trade other peoples money in Forex, or is this a question more suited for a lawyer?

[drfrankm]

Great information. What is I don't withdraw my trading profit and just let it compound? Is there a way avoid paying taxes until I withdraw my money?

[jerseymonkey]

Question: if you are a non us citizen on a visa living in the US and trading currencies with an offshore broker. Does this person still has to pay taxes ?

Question 2: Can you explain the pros amd cons on moving to a 0% capital gain tax state i.e: florida

[TessiedulnuanChomchom]

Sir, Is that true that I need to pay first the tax of my profit before withdraw the profit..please I need your help sir.

[wenation]

ThankYou for all the info Question? Do you Recommend to open a LLC as a private equity & investment Firm? or do I just file as other income to become trader status

[MrZayy]

If I wanted to claim the loss of up to 3k, would I need to file the 988 or the 1256?? Or would I need to qualify for trader status to claim that loss amount?

Your vid was extremely helpful btw, thanks for the insight!

[justintupicruz]

How would it work if a trader is trading for a prop firm such as FTMO?

[RicherThanIeverbeen]

Do you know much about the futures market? I imagine it should be similar to forex when it comes to the taxes

[ahall]

You can do this for brokers not in the US?

[maurice_p]

Are traders also subject to state income tax, or state capital gains tax on top of these percentages?