IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Adivino who wrote (305)	5/23/1998 11:51:00 AM
From: Colin Cody	Read Replies (2) of 1383

Short-term gains are taxed, as you know, at your top rate. There's little you can do about that. Of course your commissions are deducted from those gains. And if you have any old dogs that you have paper losses in, you might dump them before 12/31/98 and let the IRS share in those losses. . It sounds like you have little costs (older computer, no office rent etc) so there's not much there to work with. . That leaves you to the normal tax avoidance strategies that any high income taxpayer might utilize. I'd bet your CPA will be the right one to advise you. Keep in mind this new source of income is brand new to you. WILL IT CONTINUE? Before you go off the deep end with tax avoidance strategies, remember that your Investing activity may decrease in the future as the novelty wears thin. . Colin

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