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

To: Karin who wrote (1769)1/20/1999 1:23:00 AM
From: CookiePuss  Read Replies (1) | Respond to of 5810
 
Tax advantages to traders status?

I have begun exploring tax breaks related to my now full time trading activities. Can someone point me to a good online resource or book that can get me on track? How is Ted Tessler's book?

Are there truly tax breaks for those who trade frequently and are in the highest tax bracket?



Thanks!



To: Karin who wrote (1769)1/20/1999 7:28:00 PM
From: Stephen Krupa  Respond to of 5810
 
The flat Tax dates back to at least 1955. In graduate school, I used the House Taxation Committe's report which showed that rates of 5% and 10% would produce more revenue. (Us oldtimers remember hearing the name of Texan Wright Patman?)
I have recently read/heard/dreamed? that the Y2k problem will force the IRS to a flat tax as the only method to collect any taxes. We know how excellent the IRS computer network is!


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