Author Archive

• Trader Taxation – Part 3 – Trading One’s Individual Retirement Account
  Die Broke Blog, Die Broke Blog | January 22nd, 2010 at 7:55 am

  

  This post was written by @iron100 on the Die Broke Blog

  This third post on taxes for trading businesses will be a thumbnail sketch of what happens when one trades one’s own retirement accounts and what happens when they become quite large (which I hope yours will become, as the trading portion of mine is becoming now). Most of this information is coming from “The Tax Guide for Traders” by Robert A. Green, CPA. This book breaks down in a fairly comprehensive but easily understood way how to avoid problems with establishing trading businesses.

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• Let’s Play Spin The IRS Tax Credit and Deduction Bottle One More Time and Find Some Quite Obscure (and QUITE HELPFUL) Ideas
  Die Broke Blog, Die Broke Blog | January 15th, 2010 at 7:28 am

  

  This post was written by @iron100 on the Die Broke Blog

  While I continue to compile some data on Part 3 of Trader Taxation (particularly that of individuals who trade their Individual Retirement Accounts), I decided to continue our little journey down "Federal Tax Deduction and Tax Credit Lane".

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• From The Article Bin…Real World Tax Deductions You Might Not Have Considered
  Die Broke Blog, Die Broke Blog | January 13th, 2010 at 7:45 am

  

  This post was written by @iron100 on the Die Broke Blog

  Well folks, it is that time of year again. I actually did turn tax paperwork to my CPA for one of my businesses yesterday, but one thing individuals need to do is to look for legal and completely defensible tax deductions to reduce one's tax burden. A good little article covers this topic (and I will embellish it around the edges). The writer, like me, loves lists. I think lists clarify points quite nicely. I will not cover each one, but I will cover the ones that I have experience with (which are ones I use annually):

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• As Midnight Fell Last Night Across the USA, States and the IRS Were Keeping Close Watch of Time. Why?
  Die Broke Blog, Die Broke Blog | January 1st, 2010 at 2:18 pm

  

  This post was written by @iron100 on the Die Broke Blog

  Ok, ok, that WAS last year's cartoon, but it does get the point across at how tough it was early on in 2009. As we head to 2010, though, a still unsettled tax event is about to occur. I think it is again time to address this issue, as so many are unaware of it that it should be reemphasized.

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• Seven Financial Resolutions for 2010
  Die Broke Blog, Die Broke Blog | December 31st, 2009 at 7:55 am

  

  This post was written by @barrieabalard on the Die Broke Blog

  Whee, it’s almost 2010! Have you thought about ways to improve your financial health in the new year? Here are some ideas to get you started.

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• Trader Taxation – Part 1 – A quick definition of what a trading business is…to the IRS and to YOU
  Die Broke Blog, Die Broke Blog | December 27th, 2009 at 11:13 am

  

  This post was written by @iron100 on the Die Broke Blog

  People who have read my blog posts and articles on other websites over the years know that I can "goFaulknerian" at times and ramble in streams of consciousness, which, if one is attentive enough, will lead to the central point. I may have done so with the initial discussion of Trader Taxation, as I described in the first full post. One will find the links to IRS Publication 550 in that post. What I want each and every one of you to consider first in greater detail at this point is whether or not your trading operation is a business. "But Dave, of course it’s a business; I am spending money to trade and making some profits." That is not the answer that the IRS wants, and if you are honest with yourself, not the answer you want either. This will be today's point of discussion.

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• Yep, I am letting Santa Lindzon down today, but will put more up on Sunday regarding Trader Tax
  Die Broke Blog, Die Broke Blog | December 25th, 2009 at 12:56 pm

  

  This post was written by @iron100 on the Die Broke Blog

  Well, I guess its fast food for me today (and perhaps until 2011) because I will be late with my post. Santa Lindzon will now cut off my falafel rations for the year because I have one late post (funny, rednecks like me STILL can't spell that word, and we dare not call it pita bread in his presence...darn it, I just did. Well, there go the rations until 2013).

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• Serenity Prayer for Floundering Businesses
  Die Broke Blog, Die Broke Blog | December 23rd, 2009 at 7:25 am

  

  This post was written by @tamelarich on the Die Broke Blog

  The Kauffman Foundation just published a study of 549 company founders of successful businesses in high-growth industries.  My favorite finding: "40 percent cited lessons learned from failures as extremely important – the second-highest “extremely important” rating."

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• Another Diversion while Tax Law Legislation for 2010 Is Settled – The Trader Tax
  Die Broke Blog, Die Broke Blog | December 18th, 2009 at 8:14 am

  

  This post was written by @iron100 on the Die Broke Blog

  I have to confess that this week I have been working on my own trading blog, working on my own taxes (yes, it is that time of year again), and doing some equipment repair, so I am not as completely prepared to write the normal treatise in the Tax Law Changes for 2010 series. That legislation is still being formulated in Congress, so there will be plenty of time to cover it in the very near future. I decided that I would provide at least an initial response to a reader request regarding the Trader Tax (Covered in IRS Topic 429) and the steps one might take to start some kind of trading business.

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• Hot Stuff! Or, More About Replacing Your Home’s Heating System—Part Three of Three
  Die Broke Blog, Die Broke Blog | December 17th, 2009 at 7:43 am

  

  This post was written by @barrieabalard on the Die Broke Blog

  Something else to consider when replacing a heating system is the future cost of the fuel used. If you plan to live in your home for a long time, changing to a different fuel can save you money down the line. However, you must include the additional costs of changing to a different heating system—your replacement costs are almost always greater if you change the fuel source. The exception to higher installation/changeover costs is replacing a central heating system with a wood or coal stove, supplemented with space heaters as needed.

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• Some Quick Additional Notes on 2010 Estate Tax Changes and Three Important Documents Used In Estate Planning
  Die Broke Blog, Die Broke Blog | December 11th, 2009 at 7:52 am

  

  This post was written by @iron100 on the Die Broke Blog

  I really wanted to make this post sound a bit melodramatic like an old vaudeville drama, something like "In last weeks episode, the United States Congress was crafting more evil legislation designed to steal the last crumbs from widows, widowers, and their children." I have no talent for that, so here are the facts:

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• Hot Stuff! Or, Your Home’s Oil Heating System and Its Replacement
  Die Broke Blog, Die Broke Blog | December 10th, 2009 at 7:56 am

  

  This post was written by @barrieabalard on the Die Broke Blog

  Two points that I forgot to mention last week. First, both natural gas and propane heating systems carry the risk of carbon monoxide poisoning, so be sure to have sufficient CO monitors in your home, especially if your heating system is not a relatively new one. (It is my understanding that you always need CO monitors in your home if you use propane regardless of the system’s age.)

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• Union for the Self-Employed
  Die Broke Blog, Die Broke Blog | December 9th, 2009 at 8:06 am

  

  This post was written by @tamelarich on the Die Broke Blog

  If you are self-employed (regardless of whether you have employees), you might find a friend in the Freelancers Union (FU). The word "union" is like red meat to American capitalists, but stay with me here. Recall other meanings of the word, for example, as it's used for "student union."  Can you breathe now?  OK, I'll continue.

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• Tax Changes in 2010 – Part 2C – A quick example of how to do that calculation with the web-based analyzer.
  Die Broke Blog, Die Broke Blog | December 4th, 2009 at 8:09 am

  

  This post was written by @iron100 on the Die Broke Blog

  What I intend to do in this post is to provide you an example of what can happen when:

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• Your Home’s Heating System: Part One, Calculating the Cost and ROI of Replacement
  Die Broke Blog, Die Broke Blog | December 3rd, 2009 at 8:04 am

  

  This post was written by @barrieabalard on the Die Broke Blog

  It’s likely that the most expensive—and essential—item to replace in your home is your heating system. Today, next week, and possibly one more week, I’ll explore the topic and provide you with links for further digging. This week we will learn about costs for replacing natural gas systems, and next week we’ll take up oil systems. Both fuels provide heat for the majority of homeowners in the USA.

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