ElaineMDG
Corporal
- Messages
- 119
OK, First, sorry, I understand this is only applicable for US traders: but I gotta ask.
I got my once-a-year phone call from my brother several hours ago. Long story short, instead of "Happy Birthday!", I got a LONG lecture about how FOREX trading is going to screw-up whatever life I have left in this world. Beginning with a lecture on scams, (as if I hadn't experienced every scale and scheme in this business over the past 5 months...and NO, NOT ONE has gotten a cent from me!!), and ending with how my miniscule account is going to disqualify me from disability, (it won't, I spoke with them MONTHS ago!!), and THEN, that dreaded word "taxes". Apparently, UNLESS I go with HIS broker and open-up an IRA with them to trade in, the IRS is coming after Me...good heavens, my brother is becoming my Father with his apocalyptic predictions!!
JUST to satisfy him, I called that broker, although I should have checked HERE FIRST!! 1. You can't trade Forex in ANY of their retirement tax havens 2. After reading reviews here and elsewhere, there's NO WAY under the sun I'd send my money to those people!!
BUT he DOES have me concerned. I can't afford a fancy tax attorney and I'm NOT about to ask my brother for help-can somebody steer me in a direction where I can find some ACCURATE information on taxes and Forex trading here in the US please?
Thanks in advance!!
I got my once-a-year phone call from my brother several hours ago. Long story short, instead of "Happy Birthday!", I got a LONG lecture about how FOREX trading is going to screw-up whatever life I have left in this world. Beginning with a lecture on scams, (as if I hadn't experienced every scale and scheme in this business over the past 5 months...and NO, NOT ONE has gotten a cent from me!!), and ending with how my miniscule account is going to disqualify me from disability, (it won't, I spoke with them MONTHS ago!!), and THEN, that dreaded word "taxes". Apparently, UNLESS I go with HIS broker and open-up an IRA with them to trade in, the IRS is coming after Me...good heavens, my brother is becoming my Father with his apocalyptic predictions!!
JUST to satisfy him, I called that broker, although I should have checked HERE FIRST!! 1. You can't trade Forex in ANY of their retirement tax havens 2. After reading reviews here and elsewhere, there's NO WAY under the sun I'd send my money to those people!!
BUT he DOES have me concerned. I can't afford a fancy tax attorney and I'm NOT about to ask my brother for help-can somebody steer me in a direction where I can find some ACCURATE information on taxes and Forex trading here in the US please?
Thanks in advance!!