Synopses & Reviews
THE EXTENSIVELY REVISED GUIDE TO REDUCING TAX LIABILITY FOR THE TRADER AND SERIOUS INVESTOR
This comprehensive guide is completely updated with information and strategies for tackling the new 2001 Tax Law. CPA and expert tax consultant Ted Tesser provides current solutions for the tax problems facing most U.S. traders, investors, and income earners todayexcessive tax payments to federal and local governments, insufficient preparation for retirement, and, ultimately, the fate of bequests.
Here are invaluable business, estate, retirement planning, and tax-saving strategies that virtually anyone can implement within the new tax laws. Included is specific information to help traders reduce their tax liability, with individual case studies, real-world examples, and model tax returns. In this book, Tesser shows everyone concerned:
- How to disinherit the federal government
- How Trader Status is upheld, even under audit
- How to augment underfunded retirement plans
- How to master the basics of estate tax planning
- How to use the annual gift tax exemption
- How to integrate the "triple crown"Tessers latest strategy for tax avoidance and wealth accumulationinto your trading plan
. . . and much more.
Keep the profits you work so hard to earn, whether from trading, investing, or simply workingand take control of your financial destiny. With The NEW Traders Tax Solution, the choice between building wealth and just getting by is yours.
With the "triple crown," you will learn how to unleash the full power of Trader Status by combining it with a Trading Entity. You will also learn how to establish a Welfare Benefit Trust to accomplish all these goals and more. This program enables you to take advantage of little-known facets of the tax law that have been on the books for almost three-quarters of a century. You will learn how to:
- Contribute and deduct substantial amounts of money over any period of time
- Grow the principal in a fully tax-deferred, 100% secure environment
- Access the money at a future date, not limited by age, income, or retirement plan status
- Avoid the restrictions of ordinary retirement plans by using the same techniques that have been used by Americas largest corporations since 1928
This is not something that someone sat around in some back room and hypothetically thought about. Rather, this is a strategy that is currently being used by those savvy enough to understand and enact it. The New Traders Tax Solution makes this program accessible to virtually anyone by laying it out clearly and showing you exactly how to do it!
Get the government to pick up the tab on this years trading profits, foot the bill for any trading losses, and increase your wealth by 50%, instantly. After putting Trader Status on the map, Tesser now takes it to another dimension, complete with real-world case studies, illustrations, templates, and filled-out, ready-to-be-filed tax forms.
Synopsis
Praise for The First edition
"Heres my advice: first, design a trading strategy that gives you an edge in the markets; second, trade your strategy with precision and steadfastness; third, study The Traders Tax Solution and apply Tessers principles to your taxes and financial planning. If youre a trader or investor who wants to keep the maximum possible amount of the money youve earned, your copy of The Traders Tax Solution will be worth its weight in stock certificates!"
Thomas A. Bierovic, Manager
Strategy Testing & Development, Omega Research, Inc.
"I have heeded Ted Tessers advice for many years. His background, knowledge, and experience have been invaluable in saving me an enormous amount of money over the years. This book is my bible for financial and tax strategies."
Bill M. Williams, PhD, CTA
Professional trader and President, The Profitunity Trading Group
"Taxes can be the largest single expense for a successful trader. Ted Tesser draws on his experience as both a CPA and successful trader to show you how to minimize this expense. This book is clearly written, practical, and comprehensive. Deserves a place on every traders bookshelf."
Sheldon Knight, President, K-Data, Inc.
"Ted Tesser is one of the nations foremost experts on investment taxation. In this definitive guide to reducing and even eliminating whole classes of tax exposure, Ted presents a wealth of solid tax strategies that investors and traders will find indispensable."
Nelson Freeburg, Editor, Formula Research
"Ordinarily a ho-hum subject, Tesser has made reading about taxes for traders enjoyable. This book is not only a fun read, it is an invaluable reference. The Traders Tax Solution contains everything a trader needs to know about taxes."
Sunny J. Harris, President, Sunny Harris & Associates, Inc.
Author, Trading 101: How to Trade Like a Pro,
Trading 102: Getting Down to Business, and Electronic Day Trading 101
Synopsis
Updated and revised, this new edition covers all business planning issues and provides tax-saving strategies, explaining in detail what is deductible and what documentation is required. Individual case studies, real-world examples, and model tax returns provide the answers traders need. Plus, this guide provides solid advice on handling an audit and reveals what is likely to trigger one.
About the Author
TED TESSER, CPA, specializes in investment taxation and is an active trader. He is the author of Wileys The Traders Tax Survival Guide and is well known for his popular seminar entitled, "Traders and Investors: Cut Your Taxes in Half!"
Table of Contents
Preface.
Acknowledgments.
Introduction: We Are All Traders!
The Basics of Accumulating Wealth and Keeping It.
The Trader's Tax Solution.
Recent Trader Cases.
The 1997 Trader's Tax Act— The Most Significant Changes for the Trader and the Investor Since 1986.
The Tripple Crown.
Providing for a Wealthy Retirement.
They Don't Make Hearses with Luggage Racks.
Income and Expenses: A Review.
New World Retirement Planning.
New World Estate Planning.
The Double Play: To Give Is But to Receive!
The Layup: It's Just a Matter of Trust.
The Home Run: A Way to Double Your Exemptions.
Modern Day Miracles—Chalk Up a Few for the Good Guys.
Knowing Your Limits: How Far Can You Go?
101 Tax-Reduction Strategies.
Appendix A: Investment/Trading Vehicles and How to Report—Tax Consequences.
Appendix B: Deductions Related to Investment and Trading Activities.
Appendix C: The VEBA—Code Sections.
Appendix D: The VEBA—Court Cases.
Appendix E: Other VEBA Rulings.
Appendix F: 166 Frequently Asked Questions and Answers.
Appendix G: Trader Tax Return Examples and the 475 Election.
Appendix H: Logs and Journals.
Appendix I: It's All a Matter of Time (The Reality of the Wash Sale Rule.
Notes.
Disclaimer.
About the Author.
Index.