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Learn How To Use TradeLog to Deal with Cost-Basis Reporting Problems on 2011 Tax Returns

Join us for a Webinar on March 20

Space is limited.
Reserve your Webinar seat now at:
https://www1.gotomeeting.com/register/521587681

Join CPAs Robert Green and Darren Neuschwander, Managing Members of Green NFH, LLC, and Jason Derbyshire of TradeLog.

In this Webinar:

* Derbyshire will give a demonstration of the new version of TradeLog built to deal with Form 8949.
* Green and Neuschwander will discuss how to deal with 1099-B discrepancies.
* Green and Neuschwander will demonstrate how to prepare valid tax return extensions.

The IRS cost-basis reporting rules apply to 2011 and brokers are struggling - in most cases, brokers' 1099-Bs are wrong on proceeds, cost basis and wash sales. The new rules require reconciliation with 1099-Bs on the controversial new tax form 8949. Taxpayers must now enter trades on Form 8949 instead of Schedule D.

Get a grip on 2011 trade accounting and tax reporting with TradeLog - its calculations are correct when used properly. TradeLog's Form 8949 will likely show an adjustment for 1099-B reconciliation differences, and in many cases that discrepancy will be significant. If it's material, traders should investigate the differences and discuss them with their brokers. In most cases, traders should request corrected 1099-Bs. We expect the IRS to match 1099-Bs to tax filings with Form 8949, so be prepared to receive an IRS notice about material differences.

For this reason, we suggest filing for automatic extension, and waiting for corrected 1099-Bs to be issued, hopefully before the extended tax return due date of Oct.15 for individuals, and Sept. 15 for partnerships and S-Corps.

For more information about the cost-basis reporting problem, read our recent blogs.

Click here to learn more about and purchase TradeLog. 

 

Title:

Learn How To Use TradeLog to Deal with Cost-Basis Reporting Problems on 2011 Tax Returns

Date:

Tuesday, March 20, 2012

Time:

1:00 PM - 2:00 PM EDT

 

After registering you will receive a confirmation email containing information about joining the Webinar.

 

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer


2011 Tax Preparation:  
 
There is still time to sign up with us for your 2011 tax return preparation. We are preparing extensions at this late date, also due to complications of Form 8949.

Very few tax professionals in the country specialize in serving business traders. We are the leading firm --read why you should consider us this tax season. Savings start at around $8,000 and only go up!

Preparation and planning of federal and state income tax returns for traders (retail, proprietary,hedge funds, and management companies [both individuals and entities]) is our core business. 

In our tax preparation service, we distinguish between investors and business traders. Click here to read about the difference on our sign up page for investors. This page is for business traders to sign up on. 

Don't forget new Section 475 MTM elections are due by April 15, too.
Excerpt from our blog about cost-basis reporting problems: Making a Section 475 MTM election could be tricky based on using unreliable tax information. It can affect your decision to file or skip the Section 475 MTM election. Generally, we recommend Section 475 MTM on securities only, providing the business trader doesn't have capital loss carryovers. Traders need capital gains to use up capital loss carryovers, not Section 475 MTM ordinary income. On the other hand, wash sales from 2011 can be converted into Section 475 MTM ordinary losses in 2012 with a MTM election.
 

2012 GreenTraderTax Guides  

 

Use Green's 2012 Trader Tax Guide to receive every trader tax break you're entitled to this 2011 tax-filing season, and for planning in 2012. It's 25 percent bigger than last year's guide with 40 percent new content, including our latest thoughts, tax strategies, pitfalls, tweaks, warnings and benefits. Every one of our professionals must read this guide, and so should our clients. Cover, table of contents and overview

 

Whether you self-prepare your tax returns using consumer tax preparation software, or engage a CPA firm, this guide - along with our companion trader tax examples guides - can help you through the process. Many of our tax preparation clients use this guide to take advantage of our offerings.  

 

If after discussing this guide and our examples with your accountants, they give you a blank stare, then hire us - we will be happy to work with you. The dreaded new IRS cost-basis reporting rules are going to cause a real mess for traders this year with Form 8949, and this guide with our companion examples guides and TradeLog are here to help. 

Our motto is be smart, creative, forward thinking, cutting edge and even a bit aggressive, but keep it fully legal. You deserve excellence in content, ideas, judgment, decision-making, and service. Give us a chance at GreenTraderTax and Green NFH, LLC to please you with our highly trained and experienced CPAs and tax attorneys. We hope to hear from you soon. Thanks for being our customer and reading our guides.    

 

Sincerely,
Robert A. Green, CPA

 

For the best values, consider our packages.

  • Gold Package: The works, including Green's 2012 Trader Tax Guide, The Tax Guide for Traders ebook, our two 2012 tax return examples guides, our accounting guide.  
  • Silver Package: Gold Package minus The Tax Guide for Traders ebook.      
  • Bronze PackageGreen's 2012 Trader Tax Guide and The Tax Guide for Traders ebook.  
  • Each item is available a la carte. 

Click here for more information and to purchase the guides. Thanks.

 

Tax Season Webinars:

We scheduled many different types of Webinars for February and March with our alliance partners. Watch recordings and register for upcoming Webinars, click here 
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