Farm bill on the move as Senate hearings set
<div class="field-byline"> NAWG </div> The agriculture community took a number of important steps toward a 2012 Farm Bill, with commodity groups meeting in Washington to discuss the issues and the Senate Agriculture Committee announcing a hearing schedule. <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/farm-bill-move-senate-hearings-set" target="_blank">read more</a></p>
DOL re-proposing part of child labor rule
<div class="field-byline"> NCC </div> In response to requests from congressional members and the public, including comments submitted by the NCC and other agricultural interest organizations, the Department of Labor (DOL) is ?re-proposing? the portion of their proposed child labor rule regarding the agricultural parental exemption. <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/dol-re-proposing-part-child-labor-rule" target="_blank">read more</a></p>
Cotton flow strides conveyed to USDA
<div class="field-byline"> NCC </div> During a Washington, D.C., meeting, cotton industry representatives briefed USDA officials on industry efforts to improve cotton flow and sought the agency?s cooperation with future industry initiatives. <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/cotton-flow-strides-conveyed-usda" target="_blank">read more</a></p>
Farm groups discuss next farm bill
<div class="field-byline"> NCC </div> In a statement issued by 13 farm and commodity groups, the organizations stated they are committed to work together to come up with a viable farm policy. Also confirmed is their common belief that Congress should pass and the President should sign a strong new farm bill into law this year. The law expires at year?s end and producers ? like all job creators ? need certainty from Washington. <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/farm-groups-discuss-next-farm-bill" target="_blank">read more</a></p>
Super Bowl goes organic
<div class="field-byline"> Shayla Mae Bailey, AMS Public Affairs </div> The push to bring organic and locally-grown options to the concession stand came from a partnership between non-profits that support family farms, celebrities and Centerplate, the NFL?s largest concession provider. <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/management/super-bowl-goes-organic" target="_blank">read more</a></p>
Skin in the game may help dairy industry
<div class="field-byline"> Phil Durst, Michigan State University Extension </div> One of the complaints that dairy owners often have about employees is they don?t seem to care or that they don?t take ownership in the operation. Yet, should we be surprised when employees don?t take ownership in a business in which they have no ownership? <div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/management/skin-game-may-help-dairy-industry" target="_blank">read more</a></p>


Simply put, the IRS views day traders as a small business, while those that buy or sell stock less frequently are simply stuck with Schedule D stock reporting. The difference may sound minute, but it matters from a tax point of view.

Day traders and investors are both stuck with paying taxes on their gains and dividends. Given the nature of the game, however, day traders rarely have dividend income because they do not hold on to the stock long enough. The real advantage for day traders, however, comes in the additional expense department.

Since day traders are viewed as small businesses by the IRS, they can deduct whatever any small business can. This includes expenses such as those related to home offices, internet access, stock research costs, utilities and so on. An investor cannot deduct these expenses in relation to their investment activity. In simple terms, the day trader gets to claim expenses on Schedule C, while the investor does not.

So, does this mean you should try to claim yourself as a day trader if you trade stocks more than a few times a month? Well, you have to be careful. The rule is unusually vague, even for the tax code. It states that you must trade sufficiently frequently and substantially to be considered a day trader. A better rule used by most accountants is to only claim day trader status if the activity is your only job.

Article Source: http://www.ArticleJoe.com

Richard A. Chapo is with BusinessTax Recovery - providing information on taxes.

Here are some more estate planning articles...