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 trader. We
provide expertise in Tax Planning and Reporting for
Stocks, Options, Forex and Futures.
Our firm has been serving successful
individuals, businesses and active traders nationwide
since 1988. We provide expert tax preparation for all
individual and business entity tax returns, including
your state and local tax returns. We are also a Gold
member of the Better Business Bureau; click the link on
our main web page for the link to our BBB report.
Your consultation or tax situation will be
personally addressed by Paul S. Mann CPA, owner and
founder of Mann & Company CPA's P.C. Paul has over 20
years experience in the field of public accounting. He
graduated with Honors in 1980 from Bentley University, a
private and prestigious accounting and business school
located in the Boston, MA area. He was employed by a
'Big Eight' accounting firm and also served as the Chief
Financial Officer of publicly traded Oil Company before
starting his own CPA practice in 1988. He is a licensed
CPA (Colorado license 9191) and member of both the
American Society of CPA's as well as the Colorado
Society of CPA's.
He brings unparalleled
expertise and professionalism in addressing your
particular tax situation. Simply stated, most tax
professionals are not aware of the beneficial tax laws
that are specific to trading securities. Our mission 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
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!
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
Our goal at DayTraderTax.com is to assist the
active trader to achieve the benefits of these new tax laws; they are there for
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
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.
Trader would you rather be?
offer a variety of services and products ranging from
Individual and Business Tax Preparation
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.
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
hope this information has been beneficial for you, and we look forward to
gaining you as a valued client. We
make the promise that your personal tax situation is of the utmost importance to
us, and we will strive to assist you in any manner that we are able. Thank you
for visiting Daytradertax.com.
Mann & Company CPA's P.C.
Paul S. Mann CPA