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Trader Tax Deductions

Possible Tax Deductions for Traders

The following is a partial list of tax deductions that apply to those that qualify for trader status. This list is meant as a guide and if you have questions about taking a deduction, please feel free to call us at 813-746-8208 or email us at info@shrinkmytaxes.com

  • Chat or trading room subscriptions (ex. Hamzei Analytics, Eminiplayer, Misstrade)
  • Data feeds (ex. DTN IQ, DTN Market Access)
  • Software subscriptions (ex. Investor RT, Market Delta)
  • Newsletters & newspapers (ex. Wall Street Journal, Investors Business Daily)
  • Trading books & publications
  • Telephone (separate business line)
  • Internet service
  • Seminars (including transportation & lodging costs)
  • Webinars
  • Wages paid to family members (data entry, etc)
  • Rent (if leasing office space)
  • Home office deduction (even if you rent!)
  • Cable fees (CNBC, CNN, FOX Business)
  • Computer & office supplies
  • Computer Hardware (monitors, laptops, towers, cables, etc)
  • Computer Software (virus protection, Microsoft Office, etc)
  • Depreciation on all fixed assets used in trading (Section 179)
  • Margin interest (unlimited on Schedule C)
  • Legal Fees
  • Incorporation Costs
  • Tax preparation & advice (Shrink My Taxes!)

 




 

 

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