How does Advanced Currency Market / Online Forex work? I need your help!
Mike asked: There is a so-called ACM, a company in Dubai that works on forex trading and currency trading. Honestly, I almost don’t have any ideas about how this thing works. It’s like I have to open an account and invest money. I don’t know how it works. How will that benefit me? Will it [...]
Taxes – Forex Losses in an LLC that conducts other business?
kirkhilles asked: 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 [...]