Day Trading Basics
Discuss about day trading basics: price action, orders, candlesticks, indicators.
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Hi! Hope some members can provide you with answers, 1) I cannot recommend any CPAs at the moment because my Financial Advisor was doing them for me and starting next year he won't do them anymore, so I'll be looking for one myself as well. 2) Really a question depending on your individual situation... For my situation, my daytrading is a really small part of my total income, so personnally I just write them as realised capital gain/loss since I didn't create a business for my daytrading venture. Any gain/loss adds to my total personal yearly income. Not saying it's the right way to do it. It's just the way I do it because the money I make daytrading doesn't justify a business structure. To give you a concept example: let say I net 10k a year daytrading, 5k is taxable, so it adds 5k on my total revenu, that 5k will be taxable depending on my tax ladder level vs my yearly income. Again, this is my situation.. bottom line, a CPA/Financial Advisor will be able to see the best structure for your situation. The other thing too, goes back to the CPA/ you have to take in considerations all the gov. programs ex: child allocations, a change in structure or revenu can affect your overall net income. 3) Been trading for 7 or 8 years (can't even remember.. haha) never had issues with this concept, but again, maybe they don't bug me because my amounts are small or it's not my main income. All I do when it's tax season I 'print' all my transactions, so they have the details, and I put the total on my tax report.. I even think last year I never sent the details I just sent the total per stock. Not even sure if it's necessary to do this... but never had issues yet. Again.. not a recommendation.. it's just what I do. In my case, even if this way is the wrong way, you understand the impact is not as big as somebody who does this for living.. but it's something I want to ask myself to a professional when I find one. Sorry for the delay, I wasn't answering because I didn't think I would bring any added-value on what as been said, hope you get some better answers from our room members! Regards, Karl
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That worked for me in past times. Now, on the weekends that solution does not work at all. Thanks for chiming in! Appreciate it. -
It happens to me sometimes when I am on SIM. When it happens I logout from DAS server and login again, then it works. -
This happens to me every weekend. Going to email them. Thanks!
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