Haku on Trader Tax Tips

March 9, 2004

This text goes with the mp3 file of the class. If you plan on replaying the mp3 multiple times, please download it and play it locally.

19:25 Sharon: Cathy, class should be in about 5 mins.
19:26 Cathy: great.brb
19:28 Quartz: wow scott .... it really does seem like they are slow in getting non-gas cars out to the masses
19:28 @Buffy2: anyone set up to record?
19:29 Quartz: or hybrids
19:29 scottybythelake: progress???
19:29 @dom: charts.dacharts.com/2004-03-09/Dom4.jpg
19:30 hd: is this in ventrillo also.
19:30 @dom: what happen today w/ that
19:30 scottybythelake: Quartz, - ive personally seen devices that tripple ur fuel milage and and a coworker worked on GM's 100mpg carbs
19:31 Quartz: I guess we are all driven by others definition of progress (ie oil) :(
19:31 scottybythelake: yep :(
19:31 Quartz: not me buf
19:32 LightfootMT: I am gonna try to record it buffy, but if anyone else wants to record it also, incase I screw it up, that'd be good idea
19:32 LightfootMT: that would be a good idea
19:32 dblue3: Have some background interference Haku
19:32 @Buffy2: send to scylnx please
19:33 dblue3: could be
19:33 LightfootMT: if any one can record this, thanks
19:34 @Buffy2: hakutrader@yahoo.com
19:35 Richard: who's posting seismograph charts?
19:37 Quartz: you making fun of my charts R ? :)
19:38 Richard: somebody's gotta do it :-)
19:39 Richard: charts.dacharts.com/2004-03-09/
19:39 scottybythelake: Richard, - its haku's mic :)
19:39 Richard: figures
19:40 Richard: good thing she doesn't have a good one, nobody would get any work done
19:40 Quartz: oh yah some can be $10k / week :)
19:41 @Buffy2: charts.dacharts.com/2004-03-09/TAXEXP.htm
19:43 dblue3: Volcano?
19:44 Ninja: charts.dacharts.com/2004-03-09/N35.png
19:44 Quartz: oh yah .. if your using a wide screen ... thats all that matters id think
19:45 scottybythelake: do u need a dr's note for that wide screen tv?
19:45 Termo: what about deducting a car owned by your trading company?
19:46 Quartz: can I deduct massages ? :) for stress
19:46 @dom: that should be a deduction quartz
19:47 scottybythelake: interesting q quartz
19:47 @dom: why not?
19:47 @dom: talk about a GRAY area!
19:48 Quartz: how about that cruise nqoos wanted us to all go on ? :)
19:49 jx22: when you get a chance, can you deduct a car,gas and repairs if you trade in an office and also have a home office and comute from 1 to the other
19:49 Quartz: wonder if can deduct my new Prius :)
19:49 @dom: cruise!
19:49 @dom: hmm
19:51 Quartz: how about my dog? :) ... esp if he interrupts a trade
19:51 @dom: :-)
19:51 scottybythelake: Quartz, - doggie day care?
19:51 Ninja: charts.dacharts.com/2004-03-09/N35.png
19:52 Quartz: well scott ... I was thinking the whole dog itself... ie its food, maint, etc
19:52 Quartz: lol im being goofy tonight
19:52 scottybythelake: :)
19:52 Quartz: had a good day
19:53 @Buffy2: LOL
19:53 Quartz: wait .. say that again haku
19:53 scottybythelake: Quartz, - so u want the dog deduction for stress therapy?
19:54 Quartz: lol sure
19:54 @dom: rather have the cruise
19:54 Sharon: Quartz, you can deduct the wages you pay the dog
19:54 Termo: lol
19:54 Quartz: lol shoot... I dont pay it squat.... but it sure always loves me
19:55 Termo: I pay mine in kibble
19:56 Quartz: dom really grabbed onto that cruise idea
19:56 Quartz: nqoos was gonna have us all trade on it
19:56 @Buffy2: dont' feel you have to stop Haku
19:56 @dom: yeah
19:56 dts: that was me
19:57 dts: audit
19:57 dts: hey haku me from honolulu
19:58 @Buffy2: great Haku
19:58 @dom: you either are or arent a f/t trader
19:58 dts: thank you for touching on all items
19:58 @dom: right haku?
19:58 Termo: Thank you Haku
19:58 dts: dts from honolulu
19:58 dts: yup
19:58 scottybythelake: thx haku :)
19:58 dts: microphne is down
19:59 dblue3: poor guy
19:59 dts: i'm out of this for now
19:59 dts: but email cn work
19:59 dts: email to selfmanagement@email.com
20:00 dts: free info to all
20:00 @Buffy2: interesting
20:00 dts: yes can do
20:00 @Buffy2: sure why not LOL
20:00 @Buffy2: great
20:00 Termo: Haku, what is your email address again, please?
20:00 dts: eliminate mortgage payments
20:00 @Buffy2: hakutrader@yahoo.com
20:01 dts: selfmanagement@email.com
20:01 satish: web site ?
20:01 Termo: thanks
20:01 @Buffy2: how to keep more of what me make sounds liek
20:01 @Buffy2: like
20:01 dts: under construction
20:01 dts: increase disposable income
20:01 LightfootMT: great job, Haku
20:01 dts: great job hoku
20:02 Haku3: tnx
20:02 satish: when is dts turn?
20:02 @Buffy2: next week?
20:02 Haku3: when his mic is working
20:02 satish: haku thnx
20:02 @Buffy2: :-)
20:02 @Buffy2: very good Haku
20:02 dts: need to get a new Mike and will make arrangement with haku
20:02 satish: ok
20:02 Haku3: that's wonderful!
20:02 Sharon: welcome derek
20:02 Quartz: I need to get a mic period
20:03 dts: thanks sharon
20:03 Sharon: we were just discussing good deals on mics :-)
20:03 @Buffy2: yes I think most new traders are in debt when they start or seems so anyway
20:03 dts: got one for me
20:03 dts: buffy can I email this to you for review?
20:03 @Buffy2: sure
20:03 @Buffy2: unicorn@ctel.net
20:04 dts: will be there soon
20:04 mc168: Haku, which is better, trade as a trader status or create llc or corp. and trade in that company?
20:04 hiker: Haku, great talk, thank you!
20:04 Quartz: yah good knowlege Haku
20:04 Haku3: depends on your situation
20:04 Haku3: email me mc
20:04 mc168: ok
20:04 hiker: Buffy, thanks so much for help with set up
20:04 Haku3: wow... nice colors
20:04 Quartz: ive done my own taxes for along time now... and learned alot from Green&Company for trader stuff
20:04 @Buffy2: np thanks to Haku for doing it
20:04 Sharon: Thank you Haku! Great class
20:05 Haku3: thanks
20:06 Quartz: it is amazing how many tax people had no clue on trader tax law just a few years ago
20:06 Termo: Thanks Haku
20:06 @dom: agree quartz
20:06 Haku3: yes, Q... and not too many accountants can do trader taxes adequately
20:06 @dom: and still dont
20:06 Quartz: they thought everything went to schedule D.... and no schedule C lol ... and
20:06 Quartz: they thought you needed to pay SE
20:06 Haku3: welcome, termo
20:07 Haku3: they don't pay SE
20:07 @Buffy2: quartz does green and co have website?
20:07 @dom: they syill think SE is involved
20:07 Quartz: sure does B
20:07 Quartz: 1 sec
20:07 Haku3: no SE... they also cannot take a deduction for IRA consequently
20:08 Quartz: http://www.greencompany.com/
20:08 Quartz: yep
20:08 Quartz: seiously .... hardly anyone knew this stuff just 3 years ago
20:09 @dom: thanks haku
20:09 kw24: thanks Haku
20:09 vwman: thanks haku
20:09 LightfootMT: thanks
20:09 jv72: thanks haku
20:09 mc168: thanks haku
20:09 hiker: thanks again, Haku
20:09 kw24: ? SE is self employment tax
20:09 Haku3: welcome
20:09 Haku3: yes, kw
20:09 Quartz: y kw
20:10 Quartz: it just shocking the mistakes made by paid preparers back then
20:10 @dom: charts.dacharts.com/2004-03-09/Dom5.jpg
20:10 Quartz: and im just assuming they all know it now ... may not even be true today
20:10 georgia: buffy, where can I can the the recorded session again?
20:10 Pallmer: I'll be back later : )
20:10 @dom: its not true
20:11 Quartz: prob dom
20:11 georgia: thanks!
20:14 @Buffy2: did you get their software quartz?
20:14 @dom: haku are you still here
20:14 Quartz: only the yearly trader tax law info ... not there accounting software
20:14 @Buffy2: thanks for sharing the site it is interesting
20:15 Quartz: oh yah
20:15 Quartz: very
20:15 Haku3: yes, dom
20:15 @dom: I bet most dont know about NOL's, you may want to touch on it
20:15 Haku3: NOL from businesses can be carried back 2 years and forward as well
20:15 @dom: most know the foward part
20:16 Haku3: "net operating losses"
20:16 @dom: why not take it BACK
20:16 Quartz: yep .. and for a brief while there ... they allowed .. 5 year carrybacks
20:16 Haku3: yes, if the years were profitable...
20:16 @dom: yes, after 9/11
20:16 @Buffy2: looks like a good place to send the guy who said he filed no taxes when he was losing and training but has to file 2003
20:16 @dom: bush put that in
20:17 Quartz: he has free paltalk talks buff too ... he just had one tonight
20:17 Haku3: yes...
20:17 Quartz: he has one more this Thur I believ
20:17 @dom: you could have went back to 1998
20:17 @dom: but thats over
20:17 Quartz: yep
20:17 Quartz: just ended
20:18 Richard: gone
20:18 Quartz: I swear I could do taxes too sometimes ... but no time
20:18 Richard: in the wrong biz ... tax collection is where it's at
20:18 Quartz: felt like one learned how to become a cpa just learning Trader Tax laws over the years lol
20:19 @dom: you might know more than the avg tax guy by knowing that,lol
20:20 @dom: no one except green is so into it
20:20 Quartz: yah he is close to living it it seems .... he breaths it lol
20:20 @dom: he does
20:20 Quartz: is that how you learned it too dom?
20:20 Haku3: I enjoy his Active Trader writeups
20:21 @dom: yep
20:21 @dom: so, did we s/t bottom today???