Hubert Senters here.
Got a question here from Sam.
Hi Hubert, can you suggest on how to get tax help on trading options on futures? I live in the Dallas, TX area.
I live in Dallas, Texas area. Thank Sam. So Sam, I’m not an accountant. I’m not a lawyer. I’m not a doctor. I don’t play one of the internet. My wife is a CPA has masters in accounting.
Any tax questions I just go hey, you and your team account let’s go fix that. But in the trading world there are two good firms that most people recommend. And here they both are I went ahead and Google it for you.
Number one, in no particular order Green Trader Tax. Call them and ask them or hire them. And then you also have Trader’s Accounting so Green Trader Tax or tradersaccounting.com
I’ve heard good things from both. I don’t remember for memory whether options on futures are considered options or futures.
It’s little confusing like single stocks futures like they were considered still equities. They’re just weird. But just call them they will tell you.
Obviously if you’re profitable trade futures you have tax break. That’s why I trade them. I like them. Let’s take a look at a stock.
We’re going to take a look at here at ABC. Not the network. Not the TV program. But this is ABC, it’s AmeriSourceBergen. I guess it’s how you pronounce it.
But anyway, looks pretty good. One. Two. Three. Four solid up days a movement. And market is going crazy and this thing is acting like a champ so. Let’s see if we can figure out a modified target for it to hit on the way up.
It’s not going to be pretty ladies and gentlemen but it will be effective. So what we have to do is we have to wait for a small pullback or we have to go into a higher timeframe and get a bigger target.
So what I’m going to do is I’m going to go to a little bit more of a history. And what will do is it will go from these lows those line up. We’re going to go one, two, three. That will give us a little bit more with the UA. One. Two. Three. Cool. Much better we can handle that.
Next target if it gets through this high which it acts like it has. It hasn’t done officially but it’s working on it. Next target is $116 and $126.
Mark Helweg is hosting a special webinar tonight Wednesday, November 4th at 8PM EST. ‘”The Simple Way to Trade These Complex Market Conditions.” I will HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
