Robert Green
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Articles by Robert Green
Back in the swing of things
If all you have seen thus far of Full Swing Season 3 on Netflix is the trailer, you will be aware of storylines involving Scottie Scheffler’s arrest at the 2024 USPGA Championship, Rory McIlroy’s on-off divorce and the latter’s eventual and dramatic capitulation to Bryson DeChambeau at last year’s US Open. A lot to watch there, you would think. Indeed, in which case you’ll probably be surprised to learn that those items are all in the same episode (the third one). Why?
The elephant in the room
You may have noticed that our prime minister, Keir Starmer, met the president of the United States, Donald Trump, last week. Among other things, the PM handed POTUS an invitation from King Charles for him to enjoy a second state visit to the UK. In his letter, the king remarked that the president might at “some stage be visiting Turnberry and a detour to a relatively near neighbour might not cause you too much inconvenience”. Balmoral was mentioned.
We're Democrats. Biden should not have pardoned Hunter. Now he should pardon Trump Original
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2024 Year-End Tax Planning Strategies For Active Traders And Investors
Tax planning for traders at year-end 2024 should be similar to 2023, as tax law is mostly the same in 2024. However, it will be different for 2025 year-end planning. Most tax provisions for individuals in the 2017 Tax Cuts and Jobs Act (TCJA) expire on Dec. 31, 2025.
It’s Hard For Traders To Move Out Of New York For Tax Purposes
In today’s digital world, some people, especially traders, can operate their economic activities while traveling around the U.S. and the world. Some land in one place and change tax domicile, while others continue traveling and never establish a new domicile. The problem is that some states, like New York, continue to subject people to resident taxation until they change their domicile.
The Tax Cuts And Jobs Act Mainly Expires In 2025
Most of the tax changes in the 2017 Tax Cuts & Jobs Act (TCJA) expire (sunset) at the end of 2025. TCJA featured tax cuts and some tax hikes to help pay for it. Meanwhile, TCJA’s massive tax cut lowering the corporate tax rate to 21% does not expire. Accountants and taxpayers have grown accustomed to TCJA, although they were whipsawed by the 2020 CARES Act, which temporarily forestalled several tax-hike provisions.
Tips For Traders On Preparing 2023 Tax Returns
Trader tax status (TTS) constitutes business expense treatment, unlocking meaningful tax benefits for qualified active traders. The first step is to determine eligibility. If you qualify for TTS, you can claim some tax breaks, such as business expense treatment, after the fact and elect and set up other tax breaks—like Section 475 MTM and employee-benefit plans (health and retirement)—on a timely basis.
Looking Ahead in 2024
Image source: FutureStock/stock.adobe.com. Well, it is now 2024 and in the New Year we traditionally take stock of where we’ve been, where we’re going, and what resolutions and changes we want to make. CAD managers should undertake this same review/resolve exercise so we can update our plans for the upcoming year.
Traders Should Focus On Q4 Estimated Taxes Due January 16
Many traders have substantial trading gains for 2023, and they might owe 2023 estimated taxes paid to the IRS quarterly. Unlike employers, which withhold taxes on wages, brokerage firms do not withhold taxes on trading gains. Depending on their specific tax situation, other taxpayers may be able to wait to make tax payments until April 15, 2024, when they file their 2023 tax return or extension.
Second Circuit Finds Art Collective Can’t Use First Amendment to Skate Out of Injunction | JD Supra
In its first opportunity to apply the Supreme Court’s recent decision in Jack Daniel’s Properties v. VIP Products LLC, which held that the First Amendment did not protect infringing works that “use [the complainant’s] mark [ ] as a mark,” the Second Circuit upheld an Eastern District of New York order enjoining art collective MSCHF from offering its “Wavy Baby” sneaker that likely infringed Vans’ marquee “Old Skool” sneaker. See Vans, Inc. v. MSCHF Prod. Studio, Inc., 602 F. Supp.
Second Circuit Finds Art Collective Can’t Use First Amendment to Skate Out of Injunction
In its first opportunity to apply the Supreme Court’s recent decision in Jack Daniel’s Properties v. VIP Products LLC, which held that the First Amendment did not protect infringing works that “use [the complainant’s] mark [ ] as a mark,” the Second Circuit upheld an Eastern District of New York order enjoining art collective MSCHF from offering its “Wavy Baby” sneaker that likely infringed Vans’ marquee “Old Skool” sneaker. See Vans, Inc. v. MSCHF Prod. Studio, Inc., 602 F. Supp.
Second Circuit Finds Art Collective Can’t Use First Amendment to Skate Out of Injunction
In its first opportunity to apply the Supreme Court’s recent decision in Jack Daniel’s Properties v. VIP Products LLC, which held that the First Amendment did not protect infringing works that “use [the complainant’s] mark [ ] as a mark,” the Second Circuit upheld an Eastern District of New York order enjoining art collective MSCHF from offering its “Wavy Baby” sneaker that likely infringed Vans’ marquee “Old Skool” sneaker. See Vans, Inc. v. MSCHF Prod. Studio, Inc., 602 F. Supp.
Tax Planning For S-Corps
Traders eligible for trader tax status (TTS) use an S-Corp to unlock health, retirement, and SALT deductions. It’s important to act before year-end using payroll, states Robert Green of GreenTraderTax.com. S-Corp Officer Compensation TTS traders use an S-Corp to arrange health insurance and retirement plan deductions. These deductions require earned income or self-employment income. Unlike trading gains, which are unearned income, a TTS S-Corp salary is earned income.
Tax Planning For Traders
Recent tax acts don’t change trader tax status (TTS), Section 475 MTM accounting, wash-sale losses on securities, or the tax treatment on financial products, including futures (Section 1256 contracts) and cryptocurrencies (intangible property). It’s helpful to consider IRS inflation adjustments in income and capital gains tax brackets, various income thresholds and caps, retirement plan contribution limits, standard deductions, and more.
ChatGPT Explains Trader Tax Benefits
Shutterstock I prompted Bing’s ChatGPT to write blog posts on “trader tax benefits” and “trader tax status.” See my comments in yellow highlight. I also used Grammarly. ChatGPT did a good job, but gave rudimentary advice. There are nuances in our content that ChatGPT missed. GreenTraderTax and my Forbes articles are a source for ChatGPT’s blog posts. Trader Tax Benefits: If you are an active trader buying and selling securities for a living, you may wonder how to save money on taxes.
Rabah et al v. Safeco Insurance Company of Indiana
May 10, 2023 Filing 5 ELECTRONIC ORDER: Defendant removed this case to federal court on the basis of diversity jurisdiction. See Notice of Removal (Doc. No. 1) at 1. Rule 7.1 of the Federal Rules of Civil Procedure was amended last year to include a specific disclosure requirement for parties in cases where subject matter jurisdiction is based on diversity under 28 U.S. C. 1332(a). Fed. R. Civ. P. 7.1(a)(2) (effective December 1, 2022).
Tax Planning For Traders
Traders have unique needs and opportunities in tax planning. Get organized well before the year-end so you don’t miss out, states Robert Green of GreenTraderTax.com. Recent tax acts don’t change trader tax status (TTS), Section 475 MTM accounting, wash-sale losses on securities, or the tax treatment on financial products, including futures (Section 1256 contracts) and cryptocurrencies (intangible property).
Tax Extensions: 12 Tips To Save You Money
Shutterstock Individual tax returns for 2022 are due April 18, 2023. However, most active traders aren’t ready to file on time. Some brokers issue corrected 1099Bs right up to the deadline. Many partnerships and S-Corps file extensions by March 15, 2023, and don’t issue Schedule K-1s to partners until after April 18. Many securities traders struggle with accounting for wash sale loss adjustments. The good news is that traders don’t have to rush the completion of their tax returns by April 18.
Tax Relief In Disaster Situations
Shutterstock There have been many federal disaster situations around the U.S. these past years. See if you qualify to pay taxes and file tax returns after the original deadline. March 9, 2023: Due to the California storms, the IRS and CA Franchise Tax Board (FTB) released numerous press releases relating to the automatic filing extension. In plain English, this email is meant to clarify the extended deadlines as they stand now.
Tax Tips For Traders Preparing 2022 Tax Returns
Trader tax status (TTS) is the ticket to tax savings. If you qualify, you can claim some tax breaks, such as business expenses, after the fact and elect and set up other tax breaks — like Section 475 MTM accounting (tax loss insurance) and health insurance and retirement plan deductions through an S-Corp— on a timely basis. TTS vs. Section 475 MTM accounting If you qualified for TTS in 2022, you could claim business expenses on Schedule C. No IRS election was required.
2022 Year-End Tax Planning For Traders
Recent years’ tax acts don’t change trader tax status (TTS), Section 475 MTM accounting, wash-sale losses on securities, or the tax treatment on financial products, including futures (Section 1256 contracts) and cryptocurrencies (intangible property). It’s helpful to consider IRS inflation adjustments in income and capital gains tax brackets, various income thresholds and caps, retirement plan contribution limits, standard deductions, and more.
How To Avoid Phantom Income From Wash Sale Loss Adjustments
Day and swing traders inevitably trigger many wash sale loss adjustments (WS) amounting to tens or hundreds of thousands of dollars. Take a loss on a security, repurchase it within 30 days (after or before), and that creates a WS loss. A WS reduces the cost basis on the position sold and adds the WS loss to the replacement position’s cost basis. That defers the WS loss, creating phantom taxable income and capital gains taxes.
How to Avoid Phantom Income From Wash Sale Loss Adjustments
Day and swing traders inevitably trigger many wash sale loss adjustments (WS) amounting to tens or hundreds of thousands of dollars. Take a loss on a security, repurchase it within 30 days (after or before), and that creates a WS loss, states Robert Green of GreenTraderTax.com. A WS reduces the cost basis on the position sold and adds the WS loss to the replacement position’s cost basis. That defers the WS loss, creating phantom taxable income and capital gains taxes.
How Some Traders Double-Up On Retirement Plan Contributions
Profitable traders are keen on maximizing retirement plan contributions in trading activities and also in their full-time jobs, states Robert Green of GreenTraderTax.com. Traders are pros at investing, and they understand the power of tax-free compounding while saving for retirement. However, wages are required to make contributions to a retirement plan. Active traders eligible for trader tax status (TTS) can use an S-Corp structure to pay themselves the necessary wages.
All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes
By Darren L. Neuschwander, CPA If you are same-sex married, you need to learn about new IRS and state tax rules that affect your tax filings, including possibly having to amend open year tax returns. We ask our clients affected to contact us to discuss it soon. Here's the latest important news. All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes http://www.treasury.gov/press-center/press-releases/Pages/jl2153.aspx Reprint from the link above.
How to Set up a Trading Business for Optimal Tax Savings
If you are eligible for trader tax status (TTS), consider setting up a trading business to maximize tax benefits, states Robert Green of GreenTraderTax.com. Some traders benefit from an LLC; others don’t need one. Deduct trading business expenses. Elect Section 475 MTM for exemption from wash sales and the capital loss limitation. Be eligible for a 20% qualified business income QBI deduction on Section 475/TTS income. Deduct health insurance and high-deductible retirement plan contributions.
How To Set Up A Trading Business For Optimal Tax Savings
If you are eligible for trader tax status (TTS), consider setting up a trading business to maximize tax benefits. Some traders benefit from an LLC; others don’t need one. Deduct trading business expenses. Elect Section 475 MTM for exemption from wash sales and the capital loss limitation. Be eligible for a 20% qualified business income QBI deduction on Section 475/TTS income. Deduct health insurance and high-deductible retirement plan contributions.
How Traders Elect 475 To Maximize Their Tax Savings
Tax-Loss Harvesting With Section 475 Shutterstock Avoid wash sale losses and the $3,000 capital loss limitation and qualify for a 20% QBI deduction. The most significant problem for investors and traders occurs when they cannot deduct trading losses on tax returns, significantly increasing tax bills or missing opportunities for tax refunds.
OPINION: Ordering Takeout? Stop Complaining and Look in the Mirror
A delivery worker on an e-bike maneuvers around a truck. Photo: file The next time you ask a delivery worker to bring you pad Thai or bagel from a restaurant 30 blocks away, consider: You are asking another human risk dying or becoming severely injured because you didn’t want to leave your apartment. The next time you have to dodge a “wrong way” delivery bike rider, moreover, you also might think for a second: Could your impatience about “WHERE’S MY ORDER” be driving the interaction?
Traders Should Focus On Q4 Estimated Taxes Due January 18
Quarterly Estimates Shutterstock Many traders have substantial trading gains for 2021, and they might owe 2021 estimated taxes paid to the IRS quarterly. Unlike wages, taxes aren’t withheld from trading gains. Others can wait to make tax payments until April 18, 2022, when they file their 2021 tax return or extension. The first three quarterly estimated tax payments were due April 15, June 15, and September 15, 2021, and the quarter four payment is due on January 18, 2022.
FIFO Vs. Specific Identification Accounting Methods
Shutterstock Shutterstock BY DEFAULT, the IRS, brokerage firms, and most trade accounting programs use the First-In-First-Out (FIFO) accounting method. If you sell security A, its cost-basis is the first lot purchased — the first one “out” or sold. But there is another option called the Specific Identification (SI) accounting method. Assume you bought several lots of security A over the year while the stock increased in price.
Versioning ASP.NET Core Services
Phil Japikse shares a number of tips on how to manage multiple versions of ASP.NET Core Services. How do you and the API consumers easily keep track of versions 1.0, 1.1, 1.2, 2.0 etc? Phil shows how.
How Some Traders Double-Up On Retirement Plan Contributions
Solo 401(k) Shutterstock Profitable traders are keen on maximizing retirement plan contributions in trading activities and also in their full-time jobs. Traders are pros at investing, and they understand the power of tax-free compounding while saving for retirement. However, wages are required to make contributions to a retirement plan. Active traders eligible for trader tax status (TTS) can use an S-Corp structure to pay themselves the necessary wages.
Unlock State & Local Tax Deductions With A SALT Cap Workaround
SALT Deduction Shutterstock Since 2018, taxpayers living in high-tax states have been unable to take an itemized deduction of state and local taxes over a limitation (known as the “SALT” cap) of $10,000 per year. This limitation came from the 2017 Tax Cuts and Jobs Act (TCJA) and is effective for tax years 2018 through 2025. But the good news is some states have a workaround, which I cover in this post. On Nov.
Traders Should Consider Section 475 Election By The Tax Deadline
Tax Time Shutterstock Even though it’s too late to elect Section 475 MTM for tax-year 2020, the opportunity for 2021 is available now. In this blog post, I will cover the scenarios that make it prudent to obtain Section 475 for tax-year 2021 and how to make the election. Before I dive in, let’s review the deadlines, because they are approaching rapidly.
Tips For Traders: Preparing 2020 Tax Returns, Extensions, And 475 Elections
Tax Season Shutterstock Traders use various tax forms as the IRS hasn’t created specialized tax forms for individual trading businesses. Traders enter gains and losses, portfolio income, and business expenses on different forms. It’s often confusing. Which form should forex traders use? Which form is correct for securities traders using the Section 475 MTM method? Can one report trading gains directly on a Schedule C?
.NET Conf: Focus on Windows
.NET Marketing Manager Beth Massi previews .NET Conf: Focus on Windows, a free livestream event focusing on how to move your Windows desktop apps forward to .NET 5. Come join us Feb 25, 2021. Check out the agenda and speakers at https://focus.dotnetconf.net/.
Analyzing Code with Infer#
Learn more about Infer# here.
Sharing Knowledge Online
Want to share your knowledge and experiences with others online? David Giard, host of the Technology and Friends and GCast channels on YouTube, shows you how to get started. Check out David's videos at http://technologyandfriends.com and at https://aka.ms/gcast.
Green’s 2021 Trader Tax Guide: Highlights
Green's 2021 Trader Tax Guide GreenTraderTax Green’s 2021 Trader Tax Guide covers the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act’s impact on investors, traders, and investment managers. The highlights of this year’s guide are included below. TAX CUTS AND JOBS ACT Tax Cuts and Jobs Act (TCJA) was enacted on Dec. 22, 2017, and the law changes took effect in the 2018 tax year.
Azure Application Insights Profiler
Need to collect performance data about your Azure apps while they are running in production? DevDiv Azure Services PM Chuck Weininger shows us how to do that using the Azure Application Insights Profiler. For more information, see Profile production applications in Azure with Application Insights
Robert Green and Behnam Pourdeyhimi, Ph.D., Author at International Fiber Journal
About the author Robert Green and Behnam Pourdeyhimi, Ph.D. Robert Green is the vice president of Performance Polymers for NatureWorks. Robert has been with NatureWorks since 2002, where he has been involved in a broad range of applications for both Ingeo fibers, as well as Ingeo packaging. Prior to joining NatureWorks, Robert was employed with Wellman, Inc. for 11 years, holding a number of technical positions supporting a variety of PET fiber and resin activities.
Use an Existing .NET Core Project Template
Every .NET project is based on a project template. Want to learn more about the ones that ship "in the box"? Want to learn how to create your own? In this multi-part series, ASP.NET PM Sayed Hashimi explores NET Core project templates and how to use them.
Transient Error Handling with Polly Part 1
As more and more apps rely on services running in the cloud, you need a robust way to handle service outages. .NET Rocks co-host Carl Franklin shows us how to use Polly to handle transient errors. This is a two-part episode. In part 1, Carl introduces us to Polly. In part 2, he continues demoing how to use Polly in your apps. Polly resources:
Visual Studio Installation and Customization
What's really happening when you install Visual Studio and how can you customize the installation? VS PM Soojin Choi answers these questions in this episode. Even if you have installed Visual Studio dozens of times before, you are sure to learn some tips and tricks that you will use the next time!
Performance Profiling | .NET Object Allocation Tracking Tool
Diagnostics PM Sagar Shetty continues taking us on a tour of the Visual Studio profiling tools. Today he shows how you can see how much memory your app uses and what code paths allocate the most memory by using the .NET Object Allocation tool. Learn more about profiling in Visual Studio at https://aka.ms/vsprofilingdocs. Learn more about the .NET Object Allocation tool here.
How Traders Improve Tax Savings With Year-End Strategies
Tax Planning Shutterstock Year-end tax planning for traders varies based on eligibility for trader tax status (TTS) in 2020 and 2021. There are different strategies to consider for investors, TTS traders using the capital gains method, and TTS traders using Section 475 MTM ordinary gain and loss treatment. TTS traders operate as sole proprietors, spousal LLC/partnerships, or LLC/S-Corps.
GitHub Codespaces
Want to see Microsoft's vision for cloud-powered development environments that enable developers to get up and running quickly and work from anywhere on any platform? Visual Studio PM Vix Ryan shows the ease of power of GitHub Codespaces. To learn more and request early access, go to https://github.com/features/codespaces.
Performance Profiling | .NET Async Tool
You know that asynchronous programming makes your UI more responsive. Did you know that you can use the .NET Async tool to profile your async code? Diagnostics PM Sagar Shetty shows how to use this tool. Learn more about profiling in Visual Studio at https://aka.ms/vsprofilingdocs. Learn more about the .NET Async tool here.
Traders Should Focus On Q4 Estimated Taxes Due Jan. 15
Quarterly Estimated Taxes Shutterstock Many traders have substantial trading gains for 2020 YTD, and they might owe 2020 estimated taxes paid to the IRS quarterly. Unlike wages, taxes aren’t withheld from trading gains. Others can wait on tax payments until April 15, 2021, when they file their 2020 tax return or extension. The first two-quarters of estimated tax payments were due July 15, 2020 (the postponed date due to Covid), Q3 was due on Sept. 15, 2020, and Q4 is due on Jan. 15, 2021.
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