Day Trader Taxes | Strategies and Debunking The Top 3 Tax Myths!

Day Trader Taxes - Strategies and Debunking some of the Top 3 Tax Myths For Active Day Traders. Whether you are a brand new trader or seasoned veteran taxes is never a one size all fits approach!

In this webinar I had the opportunity to discuss and debunk the Top 3 Day Trader Tax "Myths" and share a few real world case study examples with the trading education company Bulls on Wallst.

🧟‍♂️ Connect With Me On Social Media!

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

⚡️My Recommended Day Trading Equipment!

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

🖥️Some of My Favorite "Tax Deductible" Trading Tools:
BenzingaPro - great for news and stock research
Scanz - great for scanning momentum stocks and news
FlowAlgo - great for scanning and spotting unusual options activity

⭐New to Trading/Investing? Take a baby steps with these introductory investing apps:
► Sign-up for Webull (Similar to Robinhood) Get 2 Free Stocks when you deposit $100 (valued up to $1650)
► Sign up for Robinhood and get a free stock!
► Acorns - passive investing to help grow your loose change. Sign-up for a free $5!
___
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.

AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and/or use myself. Some of the links on this web page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing the content this channel.

[BrianRiveraCPA]

Let me know some of the top business expenses you guys incur to help execute your day trading!

[tgbanks]

Do you work with Traders who are Prop Firm traders in Forex / Commodities? Thank you for your time. I am located in FL

[FreeTraderFREEMAN]

I have been trading for awhile and trying to to trade as a business. How does the process go.? Thanks

[ramop]

Do you work with people outside of FL? For example, are you well versed with the tax laws for someone in Chicago?

[maakhina]

Damn that guys voice is so nasally.. I cant no no

[dienan]

Hi Brian, I just submitted my tax return yesterday 5/13/21. I just watch your chanel and I want to submit the section 475f, am I still can apply for it? If yes can I use your service to help me to apply before 5/17 please. Thank you.

[crystiancepeda]

What if your are not flagged as a day trader and earn income via regular job but still trade frequently does your firm take clients like that?

[zikky]

can a trader who just trades for a living and doesn't work with an organization can that person still file tax ending of the year. just like every other corporate and registered business and jobs in usa.

[litespeed]

BRIAN are you familiar with binary options, NADEX? If yes I would like to contact you in the near future. THX

[elianegonzalez]

Your videos are very helpful, I actually tried scheduling a consultation but you’re only available in Jan, I’m worried about not making a right move before end of year for taxes.

First time day trading for a few months, but worried about taxes coming up. Can’t find clear information on how my taxes will be calculated. Should I apply for mark to market now or next year? Will the application if accepted be valid for 2020 taxes or 2021?

[ZenCyde]

The information I gained from multiple of your lectures led me to save $10, 000's in taxes. Cant thank you enough! Trader Tax Status is amazing!

[DominateTheGame]

grateful for your channel. Thank you.

[adeniyioriadetu]

What if I trade for a prop firm like ftmo. Will having an LLC help ?

[nimson]

Hey Brian, last year(2019) I started day trading with a TD account and taking long positions with the Robinhood app. At the end of the year I was up $10k with TD and $400 with Robinhood. This year, after covid, I'm down $30k with TD and down $300 with Robinhood. With all my losses, I am now under the PDT rule and have been trading less in 2020. I have not yet filed my taxes for 2019. I expect to pay taxes on my gains from 2019 and deduct losses from 2020, but I'm not sure what I should do now, before I file my 2019 taxes. Should I file a 475 form now or next year depending on how much trading I end up doing this year, in 2020? Thanks a lot, I love your videos and respect what you are doing.

[maryreyes]

Hello. I’m thinking of filing as a mark to market trader. I am retired. As a trader I will file my gains, losses and expenses on schedule c. Can I avoid paying SE taxes and only pay the income tax?

[Cdswjp]

Hi Brian, is the election still permanent?

[chaz]

Awesome information. I have learned so much from several videos I have watched from you. Great work!