Reply To: Taxes and accounting in full time trading

Christian Harris

    Income tax is generally complicated regardless of your jurisdiction, and you should always stay informed about relevant tax laws and regulations.

    Without getting too detailed, the tax you typically pay depends on whether you work a ‘regular’ full-time job and trade on the side or trade full-time as your primary source of income.

    The difference usually comes down to whether you pay capital gains tax (on longer-term investments) or income tax (on short-term trading).

    It’s always worth consulting a tax professional familiar with trading and investing in the country you trade to ensure accurate reporting and to take advantage of potential deductions.

    You want to avoid an unforeseen tax bill years down the line.