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Synopsis:
Before you complete your next tax return, or get too far into a new trading year - , read Tesser's latest tax "Bible." Even if you're already familiar with his work, this just-updated edition should be on your shelf. Tesser covers all the latest changes in the tax code - plus his powerful new "triple crown" strategy for tax avoidance. Taxes can cut into your trading profits AND your principle if your not careful - but this new must-have guide will help you: save money, find deductions, survive an audit and document your work properly. Make tax SAVINGS as much a “sure thing” as 'death and taxes," and see why trading pros say "I NEVER invest without Tesser's book close by."
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Jacket Description:
THE EXTENSIVELY REVISED GUIDE TO REDUCING TAX LIABILITY FOR THE TRADER AND SERIOUS INVESTOR This comprehensive guide is completely updated with information and strategies for tackling this yearsTax Law. CPA and expert tax consultant Ted Tesser provides current solutions for the tax problems facing most U.S. traders, investors, and income earners today–excessive tax payments to federal and local governments, insufficient preparation for retirement, and, ultimately, the fate of bequests. Here are invaluable business, estate, retirement planning, and tax-saving strategies that virtually anyone can implement within the new tax laws. Included is specific information to help traders reduce their tax liability, with individual case studies, real-world examples, and model tax returns. In this book, Tesser shows everyone concerned: *How to disinherit the federal government *How Trader Status is upheld, even under audit *How to augment underfunded retirement plans *How to master the basics of estate tax planning *How to use the annual gift tax exemption *How to integrate the "triple crown"–Tesser’s latest strategy for tax avoidance and wealth accumulation–into your trading plan . . . and much more. Keep the profits you work so hard to earn, whether from trading, investing, or simply working–and take control of your financial destiny. With The NEW Trader’s Tax Solution, the choice between building wealth and just getting by is yours. With the "triple crown," you will learn how to unleash the full power of Trader Status by combining it with a Trading Entity. You will also learn how to establish a Welfare Benefit Trust to accomplish all these goals and more. This program enables you to take advantage of little-known facets of the tax law that have been on the books for almost three-quarters of a century. You will learn how to: *Contribute and deduct substantial amounts of money over any period of time *Grow the principal in a fully tax-deferred, 100% secure environment *Access the money at a future date, not limited by age, income, or retirement plan status *Avoid the restrictions of ordinary retirement plans by using the same techniques that have been used by America’s largest corporations since 1928 This is not something that someone sat around in some back room and hypothetically thought about. Rather, this is a strategy that is currently being used by those savvy enough to understand and enact it. The New Trader’s Tax Solution makes this program accessible to virtually anyone by laying it out clearly and showing you exactly how to do it! Get the government to pick up the tab on this year’s trading profits, foot the bill for any trading losses, and increase your wealth by 50%, instantly. After putting Trader Status on the map, Tesser now takes it to another dimension, complete with real-world case studies, illustrations, templates, and filled-out, ready-to-be-filed tax forms.
== NOTICE: NEW TAX LAW CHANGE ==
In November of 2002 the IRS has issued a Rev. Proc. making the use of the VEBA and the 419(A)F6 Trust as described in the "Triple Crown Section" no longer viable. However, it is now possible to accomplish virtually the same results and benefits by using the 419(A)F5 Trust. Please, make note that in this book, you should substitute this code section for the former.
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Table of Contents:
Preface.Acknowledgments. Introduction: We Are All Traders! The Basics of Accumulating Wealth and Keeping It. The Trader's Tax Solution. Recent Trader Cases. The 1997 Trader's Tax Act-- The Most Significant Changes for the Trader and the Investor Since 1986. The Tripple Crown. Providing for a Wealthy Retirement. They Don't Make Hearses with Luggage Racks. Income and Expenses: A Review. New World Retirement Planning. New World Estate Planning. The Double Play: To Give Is But to Receive! The Layup: It's Just a Matter of Trust. The Home Run: A Way to Double Your Exemptions. Modern Day Miracles--Chalk Up a Few for the Good Guys. Knowing Your Limits: How Far Can You Go. 101 Tax-Reduction Strategies. Appendix A: Investment/Trading Vehicles and How to Report&mash;Tax Consequences. Appendix B: Deductions Related to Investment and Trading Activities. Appendix C: The VEBA--Code Sections. Appendix D: The VEBA--Court Cases. Appendix E: Other VEBA Rulings. Appendix F: 166 Frequently Asked Questions and Answers. Appendix G: Trader Tax Return Examples and the 475 Election. Appendix H: Logs and Journals. Appendix I: It's All a Matter of Time (The Reality of the Wash Sale Rule. Notes. Disclaimer. About the Author. Index.
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Review:
BOOK REVIEW by Jaye Abbate, Traders' Library
The New Trader's Tax Solution: Money Saving Strategies for the Serious Investor by Ted Tesser
Everyone knows "Death & Taxes" are 2 sure things - but author, CPA and tax expert Ted Tesser is working hard to ensure that "Tax SAVINGS" are also added to the list - especially when it comes to money-saving strategies for active traders and investors. His books and "Cut your Trading Taxes in Half" video have been bestsellers for years. And now - due to this years tax law and its implications for traders, an extensively revised guide to reducing tax liability has just been released.
Even if you're familiar with Ted's work or have his prior books, so much has changed under the new code that you really need to put this one on your shelf immediately - before you get too far along on your tax return - or into the next trading year.
Ted's mastered the art of showing investors how to get the government to "pick up the tab" on your current trading profits, "foot the bill" for trading losses, and increase your wealthy by as much as 50%, instantly. And, Tesser unveils his new "Triple Crown" strategy for tax avoidance and wealth accumulation. This clever concept allows you to unleash the full power of "Trader Status" by combining it with a "Trading Entity", and establishing a "Welfare Benefit Trust to accomplish these goals. It's a creative new strategy that Ted has been savvy enough to refine. Now - it's accessible to you, as Ted spells it out, step by step, in The New Trader's Tax Solution.
Ted also covers plenty of new ground, as he details …
- How "Trader" Status is upheld, even under audit
- How to augment under-funded retirement plans
- How to use the annual gift tax exemption
- How to reduce excessive payments to federal & local governments
- And, how to integrate his new "Triple Crown" approach for tax avoidance and wealth accumulation - into your investment plan.
Taxes can be the largest single expense for a successful trader - eating into both principle and profit, if you're not careful and conscious at the outset. On the other hand, taxes are a pretty "ho-hum," even avoidable subject. But - Ted Tesser manages to make reading about taxes both enjoyable and indispensable at the same time. Most of the biggest names in the trading world, heed Ted's advice regularly. Renowned trading coach Bill Williams claims that "This book is my Bible for financial and tax strategies." And why not? It's clearly written. Practical. Comprehensive. Includes real-world case studies, templates - even filled-out, "ready to file" tax forms. You get all this - and more - with The New Trader's Tax Solution.
Start this year by keeping more of your hard-earned money in YOUR bank account - whether from trading, investing or simply working - with Tesser's newest "bible" - and join the growing ranks of traders who, like popular trading author Tom Bierovic, feel that a copy of Ted's new book 'will be worth its weight in stock certificates!"
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