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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (3415)	3/15/1998 11:09:00 AM
From: Dominick	Respond to of 12617

Colin Cody: Not being a tax expert,I was trying to keep my comment as short as possible which created the confusion. The point was how to get deductions for your computer equipment, programs etc.etc. and stay away from the controversial classification of "Daytrader". If you become an Independent Contractor, (financial advisor, registered rep), you can deduct those expenses from both wage & business income. Concering trading stocks. Daytrading your own account generates short term capital gain and Losses, (sch.D stuff). Short term gains are taxed at your marginal rate ( 15% to 39.6%), the same rate as your ordinary income. Thanks, Dominick