Taxes and accounting in full time trading
- This topic has 6 replies, 2 voices, and was last updated 2 months ago by
Christian Harris.
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Hey people,
I knew that managing finances would be a key part of trading as my job and initially I thought I could handle it all on my own, but I’m realizing that my trading income isn’t as straightforward as a regular paycheck. There are short-term and long-term capital gains to consider, plus various deductions I might be eligible for.
I’ve been keeping detailed records of all my trades and costs etc etc etc, but it’s starting to feel like it’s taking up a lot of my time.
I’m considering hiring a professional accountant who specializes in trading if they exist, but I’m also curious about how others handle taxes and accounting. Do you manage it yourself or use a professional?
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