TRADERS
GTT ALLIANCE FOR TRADERS

GTT Alliance for Traders

Trading can be a lonely business because most traders are on their own and few have partners or employees to speak with on a daily basis. Many traders join chat rooms and communities to share ideas on trading, business and much more.

But traders are still on their own when it comes to their finances, taxes and insurance. Unlike employees in companies, traders don’t have employers to withhold taxes, include them in company group insurance and 401(k) retirement plans, or provide them with other employee benefits.

There are lots of great tax, retirement, insurance and other benefits for traders, but unless a trader acts early on to elect, claim or structure these benefits into their business plans, they often miss out.

Our alliance’s mission is to help traders with their taxes, insurance, retirement and other benefits. Click here to learn more and join us!

GTT Trader Tax Relief & Reform Campaign

Traders and investors are in dire need of tax relief from Congress and the IRS. Traders and investors have very large trading and investment losses, and under the existing tax law they are unable to deduct these losses on their tax returns (unless a trader qualifies for trader tax status and elects mark-to-market accounting on time – a difficult hoop to jump through).

Without immediate tax relief, these market participants may cease their trading businesses and investment activities. That could spell doom for the financial markets and the economy in general.

In our "GTT Tax Relief & Reform" section, we spell out the reasons why traders and investors deserve tax relief, what's wrong with the current tax system for traders and investors, and how Congress and the IRS can easily fix the system.

As leaders in the trader tax field, our firm has taken the mantle of responsibility to lead a "virtual lobbying" campaign to bring about important relief for traders. We simply want traders to be allowed full utilization of trader tax benefits – the same benefits that were granted by Congress in 1997 but botched by the IRS in transition and by most accountants in practice.

To our knowledge, no other group is working on "trader tax relief," but a few other groups are working on "investor tax relief." Several established tax advocacy groups and leading members of Congress have attempted to pass tax bills providing for some "investor tax relief" – provisions such as an increase in the "capital-loss" limitation, from $3,000 per year to $10,000 per year. This is a good start, but it falls far short of what is needed to give investors the tax relief they deserve and the positive incentives required to entice investors back into the stock markets.

Our ideas for trader tax relief beget an expansion of those ideas to investors. The basis for some of this tax relief was the "social damage" caused by "corporate malfeasance" in the securities markets. This lead to the creation of Robert A. Green's idea for "Social Tax." Taxpayers are the bank of last resort when it comes to paying many "social costs" in our society. Our idea is that those who cause "social costs" should pay a "social tax."

2003 Tax Cuts
Robert Green, CPA, is not very impressed with the new Tax Cuts and he fears there are many very negative unintended consequences for business traders and investors. Click here to learn more.