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Strategies & Market Trends : Trading For A Living

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To: Andreas who wrote (74)	5/22/1998 2:07:00 PM
From: David R. Parker	Read Replies (3) of 1729

I've been "trading/investing" full time since last summer after 20 years in retail management. After examining the pros and cons of the different tax strategies, I've concluded that it's best to classify yourself as an "investor" not a "trader" for tax purposes. You will pay the flat capital gains tax (20-28%) on your earnings but will pay no social security or self employment taxes. Of course, you can't deduct expenses, but they are not that great. My expenses are only about $200 per month for Real Tick PCQuotes, ISP charges (3 for redundancy) and subscriptions like WSJ and thestreet.com. Am very interested in differing viewpoints as I'm always willing to learn from others.

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