Daytradertax.com is a division of Mann & Company CPA’s P.C. The core of our practice is providing tax planning and preparation services to the active on-line stock trader. 

Most traders and their tax professionals are not aware of the beneficial tax laws that are specific to trading securities. Our missions at Daytradertax.com is to assist the active trader become aware and take advantage of these beneficial tax laws, and therefore assist you to greatly minimize your tax liabilities.  We prepare tax returns for our clients nationwide.  Our expertise is here for your assistance.

• First and foremost we provide the tools to help you dramatically reduce your income tax liabilities!

• We also guide you through the maze of IRS guidelines specific to stock and commodity traders.

• We alleviate the necessity of tracking individual stock trades in your day trading account, eliminating an accounting nightmare.

• We alleviate the requirement of performing “wash sale” calculations in your trading portfolio.

• We will either prepare your tax returns for you, or provide “example returns” which you or your tax professional may use as a road map.

• We provide valuable tax planning strategies for the active stock or commodities trader.

• We offer telephone consultations with our CPA experts to answer your questions.

In summary we are here to provide you tax reduction solutions and other information specific to your tax situation. We offer a variety of products & services essential to the active trader. Reducing your tax bite is 90% planning and 10% preparation, now is the time to act!

We cannot overly emphasize the importance to the active trader of adopting  these tax strategies.  It is absolutely  critical!

• Circumventing the historical $3,000 net capital loss rule.

• They allow full current expensing of trading expenses without limitation, thereby circumventing the limitation on miscellaneous itemized deductions.

• They enable the active trader to still take advantage of the beneficial long term capital gain rules

• They enable the active trader to circumvent the restrictive “Wash Sale” rules normally applied to investors, thereby alleviating a huge record-keeping nightmare.

• They allow the active trader to deduct losses on open as well as closed positions.

Our goal at DayTraderTax.com is to assist the active trader to achieve the benefits of these new tax laws; they are there for your benefit! 

If you qualify to take advantage of these laws, the impact on your income tax situation is dramatic.  Let’s look at an example.

Stock Trader A  has the following trading results.  In year one, he makes a $100,000 profit, and pays $35,000 in taxes.  In year two, he doesn’t do quite as well and actually loses ($100,000). In year two he can only deduct a $(3,000) loss, and can not carry back the remaining  capital loss against last years gains or taxes. He broke even in his trading activities over a two year period, but has paid over $30,000 in taxes to the IRS, therefore he is really down $30,000.

Stock Trader B is a Daytradertax client. He had the exact same trading results as Trader A. Trader B however,  can deduct all of his ($100,000) trading losses in year two.  He can offset his spouses salary and all other types of income. If he has losses left over, he can even go back and amend his first year’s tax return and get  those taxes back. His tax bill for the same period is $0.00.  He is truly even.  Plus, his tax bill in year one was less than the $35,000 paid by Trader A, because he could write off all of his expenses against his profits, which Trader A couldn’t.

Which Trader would you rather be?

We offer a variety of services and products ranging from Individual and Business Tax Preparation to informational Tax Guides.  For additional information detailing all of out products and services, please visit out Product List page.  This website is here for your benefit and standing behind it are real people, licensed CPA’s, with real expertise.  We want to hear from you and we want to help you.

DayTraderTax.com should be considered an indispensable part of the day traders ongoing business regimen. This site offers tools available to the active trader, that if implemented properly could mean savings of literally tens of thousands of tax dollars in a single year.