Traders Accounting is a resource to many individuals looking for knowledge on trader status and taxation. We are industry leaders for the active trader and have experience preparing income tax returns for active day traders. A traditional accountant or box store front tax firm may not have the expertise necessary to deliver results that specifically cater to the day trader.
There are hundreds of forms and schedules designed to provide information to the IRS. It can be challenging for the average tax payer to determine which form or schedule should be used to report what information. Below are some of the forms and schedules that we see when preparing our clients’ returns.
Form 1040 U.S. Individual Income Tax Return:
The Form 1040 is filed to report income, deductions, credits, etc., which are attributable to individuals. The form is due on April 15, each year but can be extended six months. An extension of time to file the return is not an extension of time to pay the tax due. Also, filing for an extension of time is not an audit trigger. A hastily prepared and inaccurate income tax return filed by the original due date is much more likely to be audited than a carefully prepared one filed by the extended due date.
$645.00 (Deposit)
First time clients subject to a $100 setup fee
Call us now on 800-938-9513 to buy.
Form 1065 U.S. Return of Partnership Income:
attributable to partnerships such as General Partnerships, LLCs taxed as partnerships, and Limited Partnerships. The form is due by March 15th and can be extended six months. Filing for an extension of time is not an audit trigger. A hastily prepared and inaccurate income tax return filed by the original due date is much more likely to be audited than a carefully prepared one filed by the extended due date.
$645.00 (Deposit)
First time clients subject to a $100 setup fee
Call us now on 800-938-9513 to buy.
Form 1120 U.S. Corporation Income Tax Return:
The Form 1120 is filed to report income, expenses, credits, etc., which are attributable to a C-Corporation. The form is due on the 15th day of the fourth month following the corporation’s year-end but can be extended six months. An extension of time to file the return is not an extension of time to pay the tax due. Also, filing for an extension of time is not an audit trigger. A hastily prepared and inaccurate income tax return filed by the original due date is much more likely to be audited than a carefully prepared one filed by the extended due date.
$645.00 (Deposit)
First time clients subject to a $100 setup fee
Call us now on 800-938-9513 to buy.
Form 1120S U.S. Income Tax Return for an S-Corporation:
The Form 1120S is filed to report the income, expenses, credits, etc., which are attributable to an S-Corporation. The form is due by March 15th and can be extended six months. An extension of time to file the return is not an extension of time to pay the tax due. Also, filing for an extension of time is not an audit trigger. A hastily prepared and inaccurate income tax return filed by the original due date is much more likely to be audited than a carefully prepared one filed by the extended due date.
$645.00 (Deposit)
First time clients subject to a $100 setup fee