Trader TAX Explained ft. Brian Rivera

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⏱️Timestamps:
0:00 Intro- Day Trader tax with Brian Rivera CPA
2:04 How can active traders save on taxes
3:05 How to qualify for trader tax status TTS
5:31 Filing as non trader status - capital loss
6:50 When to form a trading LLC
7:48 How to avoid wash sale rules
9:21 How to elect mark to market accounting
12:14 How to pay NO TAX as a trader
13:17 Why do high income traders and investors move to Puerto Rioc?

IRS Tax season is around the corner and as a day trader in 2022 you should be aware of your tax liabilities in the United States. Filling trader taxes can be a headache, that's why, in this video, I’ve invited a special guest and a trader CPA, Brian Rivera.
Resources mentioned:
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am sharing my opinion with no guarantee of investment gains or losses.

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Perfect timing Humbled Trader, this is quite literally the content that I need to absorb at the moment❤️

fuoks
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Thank you for introducing Brian, I was planning to open LLC, Brian will be my go to guy for it

sulemansadiqvirani
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You really have high-quality content. You are giving back and helping others . You're also trusted by many. Thank-you

amorl
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Wow! Great video. Never considered moving to PR before! Thanks for having Brian on the show!

rayj
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Puerto Rico here i come :) 0% tax in capital gains. This is day trader heaven on earth. But no maple syrup to drink? darn i knew there was a catch. :)

NIO
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Isn’t opening as an LLC the simplest route? You don’t have elect anything? And you can still have tax deductibles etc

LucidSoundz
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This is GOLD.
This guy is a HUGE Asset to the trading world.
Seriously, i feel like i need to donate to him for making this video with you.

Nothing but respect over here. MUCH Appreciated!!!

jordonpumpin
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Wow I have follow both channels for a move having brian...👌

elbombon
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Brian's legit, he's my CPA :)

Kenny-mvnl
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So, are wash sales only from the month of December and January? What about the other months?

buwemyo
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every time i watch one of your videos, my heart feels lighter and my smiles wider. you are the best ❤

adr
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Excellent Video very informative and good humor.

RelentlessTrader
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Your videos have really upgraded since the last time I saw them. Congrats on the growth! Love the 4k camera lol

resistance
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Hi Shay, great content. I'm wondering if you can do a Canadian version of this topic

ShaneGowlerMelaleuca
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0:30 Where can I get some of that Maple Syrup? I mean, I would buy more than a few shares of that...

djafk
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Very helpful overview! Checking out his channel next!

hazaqames
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Hello how about the wash sale problem in Canada

taowang
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This was a great collab! Very informative! Shout out to Brian for coming on! =)

amospan
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Awesome info!! Thanks for Brian!! Movin to the P. R. !!!

Sheepdog_X
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Hypothetical: Lets say you had capitol gain losses in securities of:
$10K in 2019
$10K in 2020
$10K in 2021
and you have no gains to offset against, then given you can deduct $3K against ordinary income, does that mean for 2022 tax year the carry over is 9K total against ordinary income, (3K for each each year)?

fitnesspoint