Once you're making $100K a year from trading look into the following...👇
1. S-Corp Classification. You save on self-employment tax by paying yourself a reasonable salary. The rest gets taxed as a corporate distribution.
2. Invest in the business. Pay for more education. Pay for new evals. Upgrade your setup. Write off the internet/phone bills. Write off the square footage of your office.
3. Use accelerated depreciation. Cost segregation.
Commercial property (Buying the horse farm saved me $400K in taxes. That same $400K went into downpayment). I can write off the mortgage, landscaping, utilities, etc.
Short-term rentals (write off improvements/repairs).
4. Bitcoin mining. You can write off 100% of the equipment cost as well as the electricity bill. I'm working with a company that bills out electricity for the next 5 years.
5. SEP IRA. As an S-corp you can deposit the max amount based on your "Salary".
You think you figured it out
That you cracked the code
The code to infinite gains in the stock market
Then, what feels like overnight
Everything changes
You can't seem to make a winning trade
But you push and you push
Because it's all you know