Hi, I have an LLC that performs 2 primary activities:
1) Consulting/Software Development Work
2) Automated Forex (currency) trading
Lets say (for example) that I made $40,000 doing the Consulting work and LOST $20,000 doing the Forex Trading.
Can I fully write-off that $20,000 loss and only pay taxes on the $20,000 net? If so, what documentation do I need and where do I put it on my tax form?
Thanks!!
The tax code doesn’t let you mix these. Your business is clearly the software development work. You had income here and when you had contracts you actually worked on them.
Your losing hobby was the forex trading. Most likely these will fall under 1256 rules and be entered on schedule D and limited to $3000 of loss against other income.
http://ForexTrading.BestReviewed.Net
You can get software to do automatic forex analysis for you and then make automatic trades for you, as well.
The program is programmed by forex experts who know how to recognize forex trends. This allows the program to do it for you.
It is called FAP Turbo and it has been working incredibly well for me over the past few months. As I say in the video, it nearly doubled my money in about 2 and a half months. (from 2200 to 4000 dollars).
You should really check it out for yourself to see what its all about – just click the link at the top of the description to go to the FAP Turbo website. Hope you like it as much as I do! Take care!
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I recently started reading about forex robots that do forex trading for you and make profits as a result. I decided that this was interesting enough to investigate further.
Basically, I have seen a number of these robots on the internet, all of which have been highly recommended by various sources. Can anyone recommend a forex robot that would work well for me?
If I do decide to do automated forex trading, I can only give an initial investment of about $200, so it has to be a robot that can work with small deposits. Also, I would prefer this robot to be fully automated, though I’m open to accepting robots which require some management. If the robot is free, I would also prefer that, though I don’t mind paying for it (why do these people need to charge money for a system that is used to make an income?). While I’m at it, can anyone suggest a forex trader that will accept a deposit that small, allows trial runs on a free account, is registered with the NFA (http://www.nfa.futures.org/ ) and the CFTC (http://www.cftc.gov/ ) and is compatible with the selected robot?
So that is my question. I am aware that there are people that will try to use their answer to promote the product of their choice (even if it means lying) and will earn some commission when I purchase the robot. So I have to set some rules for the answers provided here:
No Affiliate links or links to sites with affiliate links,
No redirect pages
No testimonies from people who haven’t used the forex robot mentioned in their answer.
I already know where some of the more well known forex robots are found and a search engine can probably find me the rest. As a result of these rules, there is no reason for anyone to give a glowing testimony they would usually use to sell the robot, since said people aren’t allowed to use affiliate links and hence can’t earn commission from a sale. If you need to put a link to the forex robot’s main web page, use the actual page’s address instead of one with your affiliate link in it. And don’t put the link to the page in a redirect link (such as Tiny URL.com) because that can be used to hide an affiliate link.
The third rule also applies to people who haven’t used forex robots because they think they are scams. I would prefer answers from people that have genuinely used a robot and can share their real experiences with it.
So that is my question. I say thank you to everyone who decides to answer my question.
http://bizsolbiz.com
i hope that resolve your problem.
It didn’t! It’s a search engine.
http://bizsolbiz.com
i hope that resolve your problem.
- Unfortunately it didn’t help me! It appears to be a search engine and the only info on Forex I found was one paragraph with no link to products or more info.
@Gobbler
- Like I said in my question, I would prefer a negative answer from someone who has actually had a bad experience with forex robots. The reason for this is that you, for example, might say that forex robots are scams when in reality, they are actually real money makers. And because someone like you scared me off with a negative opinion, I never get to utilise this income opportunity. I agree that there are scams that are labelled as legitimate income opportunuites, but on the other hand, the same logic holds that there are legitimate income opportunuites that might get labelled as scams.
no robots trading .honestly they dont work.
my advise is use any auto trading strategy.now a days forex yard started auto trading strategy by proffessionals. u can find here more use full info about it
http://forexplatformslist.com
- Thank you for that. Have you personally used a forex robot? As for forex yard, your link was a bit unclear as to what it actually involves. I know that forex robots interact with your forex account to buy and sell forex for you at a profit. How does forex yard do automatic trading though? Could you please provide me with more info in this regard?
@Advisor
Thank you for your answer. Unfortunately, the website you linked to has an affiliate link (most likely yours) to the product’s page. I clearly said, "No Affiliate links or links to sites with affiliate links", which you have done in your answer.
You are correct, I am a careful person. That is why I now have serious concerns about the quality of your answer. Not eligible for Best Answer award!
@Livermore
The best recommendation I can give you is this one: Forget Forex Robots. They are useless.
- Do you say that forex robots are useless because you have used some and they didn’t work or because you have made an assumption? Please provide evidence that they are useless. That goes for Jack as well.
Just some more comments for Julie:
Paragraph 1:
- You do have a point there.
2: That’s why I made the "No affiliate links" rule. That way, their lies won’t earn them a commission. In fact, I just dismissed one answer here because they put an affiliate link in their answer. There is no way I am going to trust their answer, even if the affiliate link is removed.
3: That might be correct as well. In their defense though, it is common knowledge that you should test the forex robot on a demo account before you invest real money into it. Hence, the people who use the robot should have more than enough warning that it doesn’t work before they start bragging about their sucesses.
4: Could just be a marketing technique. They go to any measure to convince people that their product is the best, even if it means lying about their competitors.
5: That’s why this question exists, to get that proof. Furthermore, can you please share the details for the forex robots you HAVE tried in the past?
The best recommendation I can give you is this one: Forget Forex Robots. They are useless. If you want to make money in Forex, work on it and develop your own trading system.
I am very interested in the automated forex trading systems online at the moment, I saw a review on http://forex.reviewfunnel.com and it seems to be the best. Anyone know of anything better?
My friend is using forex tracer, and he is making good money, but I want to better him! Please help me
lol If you want better than him then Forex Tracer is the way to go. I found a really great comprehensive review at
http://allforexeveryday.wordpress.com
If you’re interested in sports betting (which can lead to a HUGE payday every week) there’s another review at
http://johnmorrisonsystem.wordpress.com
Good luck!
I have been trying to order automated forex trading signal software-forex killer for about two weeks and using a master card and the message I do get after placing the order is "unable to process your order at this time". What is the problem and what am I not doing well.
Nina-tess, It could be Clickbank, the payment processor, that has some problems but generally they are very efficient.
For me, because I was living in Malaysia, for many years, I faced a lot of problems with Clickbank accepting my credit card as they do not accept cards from some countries. I was always frustrated as they couldn’t tell me why sometimes my order goes through but most times it didn’t.
What I do is to use paypal and I do not have anymore problems. Paypal is very useful because it takes from your credit card but it doesn’t expose your info to the seller. This is good especially if you are buying small items from strangers or even in ebay. You only need to show an email to pay using paypal.
I bought Forex Killer 2 months ago and I really like the software. It helps me to confirm my decisions to enter and exit trades. Last week, my friend at the bank bought a copy
and they now have an offer for a free magazine subscription available for mailing to US addresses only.
http://ForexAutopilotSystem.org -
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I’ve been looking for a reliable and automated forex trading software. I was pretty keen on forex tracer when I came across this review. is it accurate?
=> http://www.learn-forex-online.com/automated-forex-trading/
My guess is that it is fairly accurate. Of course, saying "Believe it or not, Forex Tracer produced over 94.90% profitable trades from July 2006 to May 2008… well, in backtesting anyway." simply means it is possible to build a model which would have made a profit in the past if you base the system on the past data. It means nothing about how it will perform in the future.
Saying "This system has been getting good reviews on the Forex forums" simply means some people have written good reviews. We have no idea if those who wrote the good reviews profit for sales of the product, and the statement would be accurate even if there were ten times as many bad reviews as good reviews.
Saying "one major market movement against you can wipe out all your gains" is probably accurate but may be an understatement. What happens if a "major market movement against you" occurs before you have any gains? Obviously you can lose more than your previous gains, maybe even your entire investment.
—–
I don’t pretend to know much about the forex, but I do have some common sense. If automated trading software could consistently provide high returns there would be no reason the sell it. Those who owned the software could become super-rich just by using the software themselves. The fact that they pay to advertise the product, hire people to manufacture, package and ship the product, and that they have to deal with angry customers tells me that they are trying to get rich by selling the product because they have not figured out how to get rich tradng.
Hi everyone!
I am relatively new to forex and have only just found out about all these automated forex robots and such that are supposed to really take a lot of the risk out of forex trading. There are so many though! Can anyone suggest like a good one, based on personal experience?
Thank you!
If you want to make money with forex, check out this site
http://make-money-with-forex.org
Here, You’ll find the best forex software that can help to increase your trading profit.
Im very interested in getting a Forex automatic system to trade for me.
I have heard great things about forex robots,but i have no experience with them.
Would you recommend any of them?
Thanks
There is NO forex signal company that can beat the market in the long run. This is from my experience in forex trading for years. Else everyone is rich. Here is a good read about forex signal company: http://www.forex.labuan.net/forex-signal.html
A Forex trader needs to learn and master the necessary skills to be successful in forex trading.
With so many claims of best FOREX trading systems, which is the current best automated software on market. Which offers best free trial and training? www.FreedomFOREX.IntelaTRADER.com
Through my trading, I found that the best forex trading system is Forex automoney. It is not 100% automated forex trading but it is better than one that is fully automated.
As a member you have access to alot of training materials plus of course the software to use and there is a lot of support. I feel it is very good for anypoone serious about forex trading and looking for the best forex trading system.
No free trial but you only need to pay $4.95 to try out.