Hey all the guys and gals who trade alot with success, how are you taxed?
Are you setup as a business, considered an "investor or "trader?
What percent is on average does the IRS take?
Any info would be appreciated!!
Thanks
Zak:cool:
Nobody who knows about this?
Here is an informative website that will tell about how your profits are taxed.
Forex Taxes - Do I have to Pay?
I hope this helps
Thanks alot!
Thank you! This is a really useful piece of information.
Interesting, I have been after such info myself. In some countries such as the UK it is still tax free when trading futures because it is classed as gambling as far as I understand but haven’t really looked into that much, just something I read from a London trading recruiting company.
Do any of you reading this know of any trading companies or banks that recruit new traders train them and allow you to trade their (money) accounts for them without being a professional experienced trader prior to working for them? I know of several but not FX.
~
This applies to U.S. traders only. Foreign investors that are not residents or citizens of the United States of America do not have to pay any taxes on foreign exchange profits.
Offshore trading, anyone?