TAX COMPLIANCE
Day traders have unique tax needs, and we offer you excellent value in our tax compliance services. Our tax services are designed to keep you compliant with Federal and State Tax regulations while minimizing your tax liability.
2024 Tax Compliance Service Includes:
Evaluation of Trader Tax Status (TTS): If you meet the criteria for TTS during any portion of the year, we can include a Schedule C to deduct your trading business expenses, startup costs, and home-office expenses directly from gross income. Unlike Section 475 (Mark-to-Market Accounting), TTS doesn’t require an election.
In a footnote on your tax return, we provide clarification on trader tax law, eligibility criteria for TTS, tax elections such as Sections 475 MTM, tax considerations related to financial products, and other pertinent details. This helps prevent any inquiries from the IRS.
If you traded securities, there’s complex accounting required for wash sale loss adjustments or Section 475 MTM accounting, which includes a Section 481(a) adjustment applicable in the first year of the election.
With the integration of cloud technologies, we offer tax compliance services to clients across state borders, ensuring a streamlined process that is both efficient and effective, thereby saving you significant time and fees.
What to Expect
We advocate for transparent pricing, understanding that each taxpayer’s
situation is unique, and thus, the services provided may vary accordingly.
Typically, an individual trader managing 1-4 brokerage accounts, executing over
720 trades, and dealing with two class of securities can anticipate a fee of
approximately $1,395.
Additional businesses, real estate holdings, and investments will result in an increased price. If you’re an entity trader operating through an LLC (Partnership/S Corp), the rate usually begins at around $2,195, covering the personal tax return.
The fee includes:
- Tax Compliance (Federal + State tax returns)
- Trading Accounting Service [Equities, Equity Options, EFTs, Futures (e.g., SPX), FOREX, Crypto]
- FINCEN reporting | Report of Foreign Bank and Financial Accounts (if needed)
- Provide tax insight and advice throughout the year
- Year-round messaging support
- Quarterly estimates
- Extension filing (if needed)
- K-1 Distribution to members (if applicable)
Our Process
- Onboarding – We learn about you and your tax situation.
- You provide the required documents (your data is secured using Amazon Web S3 cloud storage encrypted using 256-AES)
- A CPA or Tax Professional works directly with you on preparing tax returns using the secured client portal as the primary means of communication.
- We upload draft tax returns for your client review and comments.
- Once approve, we e-file the tax returns with the IRS and State (If applicable).
- Lastly, we upload IRS and State e-filing confirmations along with completed returns to your client’s portal account.
Why Work With Us
Timely Responses
We are committed to maintaining clear and timely communication, prioritizing quick response times. Our goal is to provide feedback within days – not weeks or months like other CPAs – so you can move forward with your taxes confidently.
Strategic Planning
Many of our new clients are discovering the importance of tax planning for the first time. A personalized tax strategy is essential to ensure you don't overpay and miss out on potential savings.
Up-To-Date
We stay up-to-date with emerging industries and ever-changing tax laws to pass savings onto you. Additionally, we leverage technology to optimize the client experience, ensuring we stay ahead of the curve.
Care & Education
With us, you're not just getting a standard tax return service — we aim to empower you with the knowledge to make informed decisions by teaching you the how and the why. Our team will look out for your best interests as if your money were our own.
