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Subject:
Investing as a business
Category: Business and Money > Small Businesses Asked by: prmail-ga List Price: $4.00 |
Posted:
12 Jul 2005 23:02 PDT
Expires: 11 Aug 2005 23:02 PDT Question ID: 542914 |
Hi, Me and my wife are in California. We both work on W2 ( Total income > 150K ) I also like to invest in stocks - I presume, that we can earn around 20-30K from stocks. 1. How can I show my investments as a home business so that we can save some taxes. 2. My current brokerage account is in me and my wife's joint name - Do we have to open it under any business name ? 3. Any other suggestions for saving taxes. I can give a good tip if you provide me some actionable solutions. Thanks ! |
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There is no answer at this time. |
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Subject:
Re: Investing as a business
From: taxmama-ga on 18 Jul 2005 12:51 PDT |
Dear PR Mail, Please read the article on TaxMama.com about being a trader as a business. http://taxmama.com/Articles-Pro/traders.html It's more involved than you might realize. And if you plan to do this, definitely, absolutely, work with a tax professional who understands this area of taxation. Don't ask me - it's not an area I want to which I want to devote time. Good luck. Your TaxMama-ga |
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