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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Herc who wrote (3632)	9/6/1999 10:23:00 AM
From: marketbrief.com	Respond to of 18137

good point herc! I hadn't thought about that... ~Smart$

To: Herc who wrote (3632)	9/6/1999 10:36:00 AM
From: Robert Graham	Read Replies (3) \| Respond to of 18137

I suspect the IRS does look at proceeds from day trading differently than investments, including the Social Security tax. I would check into this carefully. After all, day trading would be your source of "earned" income, this being the business you have set yourself up in. BWDIK. Bob Graham

To: Herc who wrote (3632)	9/6/1999 11:38:00 AM
From: Ken Adams	Read Replies (1) \| Respond to of 18137

Herc... ...becoming a trader you can eliminate social security taxes and cut your taxes in half. So full time traders pay no s/s taxes? What if, years later one decides to collect s/s payments? Don't they weight the amount you can draw against most recent taxes paid? Something like that? Ken

To: Herc who wrote (3632)	9/9/1999 2:24:00 PM
From: Robert O	Read Replies (2) \| Respond to of 18137

Now there is no maximum social security tax I disagree. At around 70k gross SS tax is no longer taken out of one's paycheck. So there is a ceiling. RO Check out this related story: www.ncscinc.org/press/sstaxcappr.htm Eliminating the Social Security Tax Cap WASHINGTON, D.C. Steve Protulis doesn't want much he just wants everyone pushing for Social Security privatization to disclose when they stop paying Social Security taxes. "In the Social Security debate, as in so many others, where you stand depends on where you sit," says Protulis, Executive Director of the National Council of Senior Citizens, one of the oldest and largest senior citizens organizations in the United States. "It is truly outrageous that those pushing for Social Security privatization never mention when they themselves stop contributing to the system. Most of the key players attending the White House Conference on Social Security stopped paying Social Security taxes months ago." Americans who make more than $68,400 a year stop paying Social Security taxes as soon as they reach that threshold. ...more at link