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Any US currency traders do your own taxes? I have a question 3 replies

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  • #61
  • Jul 25, 2015 8:35am Jul 25, 2015 8:35am
Quoting PoundTrader
{quote}will strike deal on july-28 2015, be back trading live jan 2016
Congrats! Very happy for you. If you could, give a breakdown of the events and how you handled them? Anything you could that won't jeopardize your identity and security? This is a shining example of tax evasion repercussions (whether known or unknown) that many of us can learn from
If not- I understand. I'm glad you're sorting through it with out going to the klink!
  • #62
  • Jul 26, 2015 8:32am Jul 26, 2015 8:32am
Quoting Pharm0r
{quote} Congrats! Very happy for you. If you could, give a breakdown of the events and how you handled them? Anything you could that won't jeopardize your identity and security? This is a shining example of tax evasion repercussions (whether known or unknown) that many of us can learn from If not- I understand. I'm glad you're sorting through it with out going to the klink!
http://money.usnews.com/money/blogs/...ile-your-taxes
  • #63
  • Aug 12, 2015 9:00am Aug 12, 2015 9:00am
http://www.escapeartist.com/
  • #64
  • Edited 3:30pm Mar 19, 2016 3:17pm | Edited 3:30pm
Denounce yourself as a US citizen (I hear the fee to do this has gone up about 400%?), move to the UK and get a free house off our lovely government and cash benefits each week or two to see you through. Open up a bank account in the cayman islands (cayman national bank or another one, you need roughly $1000 or equivalent to open an account if you're not a cayman citizen....), deposit money into it, deposit money from that into your trading account, smash it and withdraw back to said card, to the spoils....

Of course, the above is all theoretical made up fiction and you should definitely not do it.

Or just spreadbet as it's legally tax free here, and while you're at it, take advantage of that great 500:1 leverage and go all in on number 0 green
  • #65
  • Mar 19, 2016 3:38pm Mar 19, 2016 3:38pm
Anyone knows any taxation on Forex for FInland? Finland does not seem to think Forex as an asset for trading yet. Therefore there are no clear concise conclusion for how much one needs to pay for earnings... I contacted taxation offices but they just say you have to pay according to normal taxation, after the money is in your bank in EUR currency...

This does not help much -.-

Appreciate all help I can get
  • #66
  • Mar 19, 2016 3:56pm Mar 19, 2016 3:56pm
Quoting duy90
Anyone knows any taxation on Forex for FInland? Finland does not seem to think Forex as an asset for trading yet. Therefore there are no clear concise conclusion for how much one needs to pay for earnings... I contacted taxation offices but they just say you have to pay according to normal taxation, after the money is in your bank in EUR currency... This does not help much -.- Appreciate all help I can get
28% on gains.

source wikipedia ( found it only in german language https://de.wikipedia.org/wiki/Abgeltungsteuer )
  • #67
  • Mar 20, 2016 7:13am Mar 20, 2016 7:13am
You need to go offshore. Not only in banking but also make a company. You will pay less taxes than you pay in the United States and it's not that much of a hassle if handled through a firm. The best part is that a double tax treaty will likely protect you from problems in future. If you are making good money then go that way. I already have an appointment with a legal firm in two different countries when I go on vacation. No way I pay that high a tax. Fuck that!
  • #68
  • Mar 21, 2016 5:45pm Mar 21, 2016 5:45pm
Quoting GDR3k
Denounce yourself as a US citizen (I hear the fee to do this has gone up about 400%?), move to the UK and get a free house off our lovely government and cash benefits each week or two to see you through. Open up a bank account in the cayman islands (cayman national bank or another one, you need roughly $1000 or equivalent to open an account if you're not a cayman citizen....), deposit money into it, deposit money from that into your trading account, smash it and withdraw back to said card, to the spoils.... Of course, the above is all theoretical...
  • #69
  • Mar 21, 2016 5:45pm Mar 21, 2016 5:45pm
Quoting Maverick X
You need to go offshore. Not only in banking but also make a company. You will pay less taxes than you pay in the United States and it's not that much of a hassle if handled through a firm. The best part is that a double tax treaty will likely protect you from problems in future. If you are making good money then go that way. I already have an appointment with a legal firm in two different countries when I go on vacation. No way I pay that high a tax. Fuck that!
  • #70
  • Mar 21, 2016 7:19pm Mar 21, 2016 7:19pm
Quoting Maverick X
You need to go offshore. Not only in banking but also make a company. You will pay less taxes than you pay in the United States and it's not that much of a hassle if handled through a firm. The best part is that a double tax treaty will likely protect you from problems in future. If you are making good money then go that way. I already have an appointment with a legal firm in two different countries when I go on vacation. No way I pay that high a tax. Fuck that!
Where would you recommend? Finland is also high taxed country...
  • #71
  • Mar 21, 2016 8:27pm Mar 21, 2016 8:27pm
https://www.irs.gov/uac/Offshore-Tax...liance-Efforts
I would be the first to go off shore if I were motivated enough and clever enough to see how doing it could work in 2016; clever enough or rather small fry enough to be surviving trading abroad with two brokers. Never had a US broker for forex.
  • #72
  • Mar 23, 2016 5:02am Mar 23, 2016 5:02am
Quoting Greenstar
https://www.irs.gov/uac/Offshore-Tax...liance-Efforts I would be the first to go off shore if I were motivated enough and clever enough to see how doing it could work in 2016; clever enough or rather small fry enough to be surviving trading abroad with two brokers. Never had a US broker for forex.
  • #73
  • Mar 24, 2016 1:12am Mar 24, 2016 1:12am
One question, Are brokers obliged to provide your statements to the IRS or any tax firm? If so why ?
  • #74
  • Mar 24, 2016 6:53am Mar 24, 2016 6:53am
Quoting duy90
{quote} Where would you recommend? Finland is also high taxed country...
Incorporate a Singapore offshore company. They have very good laws regarding this. I am not spamming and neither is this my website but they have helped a lot,

http://www.guidemesingapore.com/inco...mpany-benefits

Singapore is 9% first year and 17% flat tax with no bullshit.


If you have somewhere need 10K to 15K to spare and are serious about trading then Singapore is the best possible place for an offshore company. My second choice is Belize because is the cheapest choice if I wanna try.

I will know more when I meed people from both these countries. If I wanna take a risk and see what this offshore is all about and how advantageous it is then I will be going with Belize.
  • #75
  • Last Post: Mar 26, 2016 11:22am Mar 26, 2016 11:22am
Quoting GiglingFx
One question, Are brokers obliged to provide your statements to the IRS or any tax firm? If so why ?
No unless there ask by the IRS if you get audit
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