Day 3

Question 1

What’s deductible as a Trader? Education

Question 2

What’s deductible as a Trader? Home office Expense

Question 3

What’s deductible as a Trader? Travel Expense

Question 4

What’s deductible as a Trader? Meals/entertainment

Question 5

What’s deductible as a Trader? Hiring employees part 1

Answer 5

don’t hire kids until 7-8 employ non working spouse, so they have a salary, which will get them social security. if they don’t have social security, then after husband dies, can only claim 50% of husband’s social security benefits.

Question 6

What’s deductible as a Trader? Hiring employees part 2

Question 7

What’s deductible as a Trader? auto expense

Question 8

What’s deductible as a Trader? Health Savings account part 1

Answer 8

can contribute 3300 a year individual HSA bank - invest via ameritrade - need to call insurance to see if HSA compatible

Question 9

What’s deductible as a Trader? Health savings account part 2

Question 10

keep out of trouble with IRS

Answer 10

use quickbooks

Question 11

tax responsibilities

Question 12

what is self directed IRA

Question 13

self directed ira advantage

Question 14

what is disallowed in SD IRA

Question 15

Prohibited Transactions - IRC Section 4975

Question 16

SD IRA LLC