Taxation of Commodity Traders
Commodity Traders are may be taxed under two different methodologies. One I refer to as the "Default Rule" and the other I refer to as the
"Mark-To-Market Election Rule".
The Default Rule
Under Internal Revenue Code ("IRC") section 1256, Commodity Traders are granted two major tax breaks:
Tax Break #1
60% of commodity gains are ...
The Financial Success Equation
Financial success ain't easy. Very few in America experience financial success. It's a needle in a haystack. The one's that do find financial success in life, however, do so by following a formula.
I call it the Financial Success Equation and here it is:
FINANCIAL SUCCESS = PASSION +HARD WORK + OPPORTUNITY LUCK
This equation is like a linked chain. You need each variable in order to form the linked chain of financial success. If you are missing even ...
Wisconsin - America's Waterloo
The very fate of our great nation is being decided right now, in Wisconsin. If Governor Scott Walker prevails against the powerful unions, his victory will light a firestorm of state by state revolution across the nation and halt the cancerous spread of Socialism.
Since FDR, America's citizens have been systematically brainwashed by our government into believing it could provide for the retirement and health care needs of its citizens. It also promised generous safety nets, such as the 99 ...
<< MORE >>Understanding The Section 179 Depreciation Deduction
Passion - The Air That Success Breathes
Forget about education, smarts, creativity, work ethic, motivation, luck, working capital, upbringing or family environment. None of that matters when you find passion for something that affords you the ability to make a living to support your family. Obsessive passion overrides all of your deficiencies and renders mistakes irrelevant, except for purposes of better educating yourself in your passionate activity. Passion forces you to ... << MORE >>
How Rich People Use The "Avalanche of Success" Technique to Create Weallth
Wealthy individuals understand that success is a process. Wealthy individuals do certain things every single day that set them apart from everyone else and positions them to be financially successful. Oftentimes success takes time and can be a psychological minefield. The ups and downs one experiences in the ... << MORE >>
The 2012 Presidential Platform That Will Resurrect The American Dream
The Unnecessary Contradiction Between Education and Entrepreneaurship
Now juxtapose this to the real world of business. In the real world of business mistakes and failure are a prerequisite for success. In fact, there would be no business success if it were not for the foundation upon which such success was built, which is ... << MORE >>
Deducting Travel As a Business Expense
As a general rule, travel expenses are deductible as a business expense as long as the expense is considered by the IRS to be an ordinary and necessary business expense under (IRC section 162).
But when you incur a travel expense outside the United States, that is when the rules begin to change. Do not assume that 100% of your foreign travel expenses are tax deductible. And better yet,
consult with your CPA during the planning phase of your foreign travel in order to maximize your opportunity for a tax deduction.
General Rules ...
Depreciating Leasehold Improvements - You Need a Masters Degree in Taxation to Figure it Out
For example, depending on the facts and circumstances, leasehold improvements may be required to be depreciated under the straight line method, or eligible for 50% bonus depreciation, or eligible for 100% bonus depreciation or eligible to be expenses ... << MORE >>
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