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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?


To: kaz who wrote (1709)1/2/1999 10:30:00 PM
From: Colin Cody  Read Replies (2) | Respond to of 5810
 
Paul, I agree that some people on S.I. have said that Traders are subject to SECA, self employment tax.

Don't bother looking it up. They are simply mistaken. A Trader pays SECA on say "trading lessons" that he gives to beginners. A Trader NEVER pays SECA on the gains from trading securities.

Colin