The Tax Guide for Traders

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The Tax Guide for Traders
by Robert A. Green
from McGraw-Hill

Customer Reviews:

• Avg. Customer Rating: 4.0 / 5.0

• A good reference for part-time and full-time traders
  For most individuals, the book recommends creating a Limited Liability Company (LLC) and then discusses some of the benefits that can be had if BOTH the LLC and Mark-to-Market (MTM) accounting are used. Note that it may not be possible for some less active traders to justify the use of the second of those.
  This is a repetitious book and I would have prefered a different way of organizing the information. For example, the basic strategy and benefits could have been easily explained in the first chapter... more info

• Full of Useful Information But Needs an Editor
  This book is full of useful information and strategies for active traders and investors. However, it is poorly written. The author repeats himself often, while omitting important information that I guess he assumes the reader knows (for example that the mark to market election can only be changed once chosen with the specific consent of the IRS). Sections and subheadings are poorly organized. Often the author writes something like: "we recommend X for the following reasons" and no reasons follow. The book... more info

• Everything you wanted (and need) to know...
  If you are an active trader, this book MUST find its way into your hands. It covers every issue necessary to help you in filing your taxes with trader status. If you can file as a trader, a whole new world of business expense deductions will be open to you. I found that this book answered every question I had, along with some I hadn't even thought of yet.
  If you are familiar with author Robert Green's Green Company website, you know how much information and detail he has to share. And if you've read... more info

• Read it before visiting your CPA
  The book discusses issues that should be considered before filing as a trader. It also discusses factors that traders should consider before electing mark-to-market accounting. The guidance here is consistent with what I've read and heard from other credible sources.
  A chapter is devoted to choosing the form of entity--single member Limited Liability Company, sole proprietor, etc. The book mentions several times that a tax professional should be consulted before selecting a form of entity for the... more info

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