Year-Round Tax Strategies for Traders
Taxes are by far the single largest expense for any profitable trader.
In essence, the IRS becomes your trading partner and can claim as much as 40% of your profits. Many traders pay way more in taxes than they have to. But in order to maximize your tax savings, you have to start planning way ahead of April.
Traders need to develop a year-round tax strategy.
The following trader’s tax calendar provides a tip for every month so you can employ strategies that can positively influence taxes in future years as well as in the current year.