Thursday, September 22nd, 2016

I have a regular job & do stock trading also, can I write things off for stock trading like a business would ?

In Ontario, Canada?, If you have a regular job too? No it does stock trading, you can write things like a computer, books, business software, which is part of a house, etc. . as someone who owns a business can and does?

Comments

2 Responses to “I have a regular job & do stock trading also, can I write things off for stock trading like a business would ?”
  1. Blazenskyy.com says:

    No, only if you were a business can you write off computer, media, software & publication expense. Businesses in generally get more write offs since they pay higher taxes than individuals.

    Some software such as Quicken for taxes is tax deductible. Investment publications & books probably can be written off. A computer probably not unless 100% of the time your just using it for investing purposes. A computer is probably looked at as Entertainment for individuals by the government since most people use it to surf the web.

    You could open your own P/T business and write it off or look into the tax codes for the gray areas – if you feel your entitled by all means write it off but prepare to keep your receipts in case of audit or proof of purchase. The rich generally deduct everything or at least have their tax preparers find every tax write off. Also make sure to add the trading costs into your tax returns. Good luck!

  2. Chris says:

    Typically you can only write off related expenses for a business, and not as an individual. As different countries have different taxation policies, it’s always best to check with the local authorities.

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