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The Tax Thread

  #251 (permalink)
 
Big Mike's Avatar
 Big Mike 
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Hi guys,

It is my pleasure to welcome Ryan Curran, for our 417th webinar event, on Tuesday, March 16th @ 4:30 PM Eastern US.

The title for the event is "Tax Topics For Traders: 2021 Calendar Year Update", and bullet points include:

Ryan founded Curran & Company in 2012 and has a BS in Accounting and Finance from Rutgers Business Law. Ryan graduated with honors and with a Juris Doctor degree

- This webinar: Detailed Discussion of Trader Tax Status
- What tax benefits does TTS afford taxpayers?
- MTM Election and implications
- Wash Sales
- Tax Reporting Requirements
- Choosing what’s best between: Sole Proprietorship, LLC, S-Corporation, and C-Corporation entities
- Bring your questions & receive answers during the live event

Ryan started his career in public accounting in 2007 while finishing his undergraduate education. After working for highly-regarded regional public accounting firms in the New York & New Jersey area for several years, Ryan founded Curran & Company in 2012 with the intention of providing high-value and high-quality tax, accounting, and advisory services to small to mid-size businesses and individuals.

As an entrepreneur, Ryan is well equipped to provide truly meaningful insight and advice to the Firm’s business clients on tax and business issues.

Ryan earned a Bachelor of Science in both Accounting & Finance from Rutgers Business School in Newark, New Jersey, graduating with honors. He graduated from Rutgers Law School with a Juris Doctor degree, after attending evening classes from 2012 to 2016.

Ryan is a Certified Public Accountant in New York and New Jersey. He is also authorized to practice Law in the State of New Jersey and actively practices law through a wholly-owned entity unaffiliated with the Firm.



Register for this event:
https://on.nexusfi.com/c6fjr

Mike

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  #252 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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Webinar recording:



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Mike

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  #253 (permalink)
 sgjohnson 
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Seems there's a two-minute chunk missing starting at about 7:12 mark.

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  #254 (permalink)
 
Big Mike's Avatar
 Big Mike 
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sgjohnson View Post
Seems there's a two-minute chunk missing starting at about 7:12 mark.

Hmm, @Rrrracer can comment.

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  #255 (permalink)
 
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 Rrrracer 
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sgjohnson View Post
Seems there's a two-minute chunk missing starting at about 7:12 mark.

@sgjohnson, @Big Mike, I went back and checked it, looks like a mistake on my part in post-processing. There is no missing information, that blank chunk accidentally got added in (learning new software LOL.) You're good to go, and apologies.

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  #256 (permalink)
 Deetee 
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ltraderX View Post
Being from Europe opening a margin account in the US for Futures trading I wonder whether providing the broker with a tax form like W8-BEN or similar would help me to avoid any deduction at source tax and any other tax within the US.

I heared about this 60/40 tax rule which seems to be relevant for Futures traders and I am not sure whether any W8-... form helps with regards to taxes in the US when it comes to gains from Futures trades. Or is there perhaps another attempt one should consider when having a US Futures broker without being a US citizen and without living in the US?

Does anybody have any experience with that?

Thanks a lot,
L.J.

Hi @ltraderX, I have sort of the same question. How are Dutch (/Europeans) treated when it comes to trading futures with an US broker?
Did you manage to find an answer to your question?
Thanks,
Deetee

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  #257 (permalink)
 Deetee 
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Deetee View Post
Hi @ltraderX, I have sort of the same question. How are Dutch (/Europeans) treated when it comes to trading futures with an US broker?
Did you manage to find an answer to your question?
Thanks,
Deetee

To whom it may concern:
https://www.forbes.com/sites/greatspeculations/2016/10/11/if-you-trade-around-the-world-you-need-to-know-irs-rules/
It's written in 2016.

It seems like all you'll need is a W-8BEN form handed over to your broker.

Please correct me if I'm wrong

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  #258 (permalink)
 
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 SMCJB 
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FYI...

SMCJB View Post
Yesterday, August 5th, Senator Ron Wyden (D-Ore) proposed the Modernization of Derivatives Tax Act . Obviously a proposed bill isn't law (yet) but one of the things in the proposal is the elimination of the 60/40 tax break for futures.

https://www.finance.senate.gov/chairmans-news/wyden-bill-ensures-wealthy-investors-pay-fair-share-in-taxes


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  #259 (permalink)
 
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 Tiffsgreta 
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SMCJB View Post
FYI...

And what if your not wealthy - the rules cut at both ends

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  #260 (permalink)
 KevinB 
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SMCJB View Post
FYI...

Futures traders are the liquidity providers for index and commodity markets. Remove the tax advantage and liquidity will almost certainly decline. Will liquidity be reduced to the point that flash crashes become more common? I guess we'll see. Do flash crashes benefit the little guy? No, they benefit the active fund managers who capitalize on retail fear.

Would love to hear a professional money manager weigh in on this.

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