If you’re a day trader who buys/sells stocks, options, futures, options, crypto or commodities within a 24-hour period, and want to minimize taxes and manage your trades, this is for you.
Day trading is a complex game, and when you have to track your trades and report on your gains/losses, and maximize your tax deductions, things starts to become difficult.
Knowing how to maximize tax deductions
Understanding capital gains tax around trading
Record-keeping your daily profits and losses
Setting up a corporation to maximize benefits
As a day trader, you’re good at navigating the complex world of market fluctuations, but managing the complex world of tax and compliance is a different game. This is where we come in.
Tax regulatory and compliance requirements
Understanding corporate vs personal tax benefits
Helping you incorporate in other countries for tax
Going from a passive trader to an active trader
There are many tax accounting firms to choose from, below you will see how we stack up against them.
We understand the world of day-trading, as we’re day traders ourselves outside of the world of accounting.
We’ll develop a personalized tax strategy for you
We’ll integrate with your trading platforms
Strategic financial and market advisory
How to incorporate to maximize tax deductions
Most accountants don’t understand the complex world of day-trading nor the tax implications.
Inexperienced with the world of day trading
Lack of understanding with tech integrations
Lack of experience with day trading tax rules
Don’t provide incorporation services
We work with a variety of different traders within Canada, USA, Dubai & European countries.
We will help you offset on your capital gains and maintain compliance with wash sale rules.
We will help differentiate between the different trades as each will have its own tax strategies.
We will help you identify opportunities to deduct expenses based on certain commodity trades.
We will help you understand the tax implications associated with different option contracts.
We will advise you on different tax rules when it comes to handling foreign currency exchange.
We will help ensure compliance with the CRA and mitigate tax owings.
Step 1 – Free Consultation: We first begin understanding your current accounting situation and tax needs.
Step 2 – Software Setup: We’ll help you integrate your trading platform with an accounting software to track trades.
Step 3 – Accounting Strategy: We’ll explain how we can help with your companies financial health and taxes.
Step 4 – Implementation: We’ll begin implementing the strategy to help you see results from our services.
– Danny Khanna, Managing Director
Our team possess the skills, knowledge and experience needed to help you as a day trader.
Managing Director
Your main point of contact for all things day trading related.
Senior Accountant
Your dedicated accountant who will deliver on our services.
Below you will find written reviews from our clients who are satisfied with our services and promises.
The ‘Wash Sale Rule’ simply says that you cannot deduct the losses of a trade if you decide to purchase the same trade within a 30-day period.
Oakfront Accounting has been operating for 6+ years helping a wide variety of clients including construction and contracting.
Because accounting is a service which is fully customized based on your needs, we suggest you schedule a demo with us to get a final price.
Currently we support QuickBooks, Xero, FreshBooks, and Wave. If you have another accounting software outside of these providers, reach out to us and lets see if we can help.
Depending on whether we’re able to support your current accounting software it can take 1-2 days. However if you’re using a software that we’ll need to migrate its data too, this may take 5-7 days.
We can help you setup your corporation, or sole-proprietorship. If you’re looking to incorporate in other countries, reach out to us and we’ll see how we can assist you with this as well.
– Dilan Ropero, Senior Accountant
