Trader Tax Accountants

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RicG
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Trader Tax Accountants

Postby RicG » Wed Apr 07, 2010 11:55 pm

Hi,

I'm in the process of searching for a new accountant who specializes in trader taxes and trader tax entities. I've interviewed contacts at Traders Accounting, as well as, Green & Co., Inc (Robert Green). Does anybody here have experience, good or bad, with either of these firms? Or do you know anyone else that specializes in trader taxes and entity structuring that you would recommend?

Any help would be appreciated. You can respond either here on the board, or if you prefer you may PM me.

Thanks,
Ric

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Patch
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Postby Patch » Thu Apr 08, 2010 3:32 am

Hi RicG

I notice your question has had a lot of response at this point...

As a last resort, a couple thoughts: 1. do a Google search, 2. do a Yahoo search, 3. ask this same question on a couple other forex sites.

Please post what you find back here on my favorite site.

Patch
A bit upset with the way USA is going with FX
InVA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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tmanbone
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Postby tmanbone » Thu Apr 08, 2010 4:01 am

I wouldn't spend a lot of money on someone claiming to be proficent in trader's taxes and charging additional funds for this reason. Quicken will break it down for you where you could do them yourself, or take it to anyone that can do a 1040 ie H&R Block.
"The simplicity of the markets is it's greatest disguise"

T

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Patch
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Postby Patch » Thu Apr 08, 2010 4:29 am

tmanbone

I just read your post above this one. What is your experience that leads you to say what you said? Is the US tax code complicated? What about the code dealing with trading, and Forex?

If what you just said is true, I've over paid for about 32 years of tax prep. I value your bottom line response.

My son's mom in law has told me for three years to go with a tax program. I tell you the truth I trust people before computer programs. Please tell me your thoughts.

Patch
InVA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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tmanbone
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Postby tmanbone » Thu Apr 08, 2010 5:25 am

I haven't got a full year in on FX trades yet to see how this works, but I have traded futures and know that you recieve a 1099 at the end of the year for these and I'm thinking FX would be similar, but I'm not sure. In stock trading you have to show every trade buy/sell. So if you trade a lot it can get complicated, this is where quicken can help. If your making money and trying to get your best deal on deductions, I think any reputable tax consultant can do the trick. If your losing money, here in the USA you can file 3,000 per year losses max, but can continue in future years if you've lost more or continue to lose. Hopefully this wasn't too confusing, and it certainly is only my view; from personal experience I have gone to H&R Block and let them file my taxes including my trading for around 150 bucks. Before trading I used to do them myself, now I figure it's worth that for the headache.
"The simplicity of the markets is it's greatest disguise"



T

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