Question by Pher M: Are US forex platforms on the internet a protected spot for foreign micro-investors in terms of taxation?
Even foreign non resident non domiciled in the US individuals trading on US forex platforms on the internet are liable for payment of US taxes from their US-source income obviously enough -or so I understand- (earnings/capital gains taxes, and so on)…
The query is: How are they supposed to do so –filing/reporting earnings returns and the complete lot of stuff- as they dont live there so they can´t go to the suitable tax agency and do it in individual?
The thought of prosecution from the US government for tax evasion due to lack of knowledge does not sound significantly ‘appealing’ honestly… I mean, personally it is all that situation about platform-based taxation what tends to make me most doubtful on investing on forex on the internet from Spain
So I wonder if these platforms –or the Banks they function with– already apply tax discounts on foreign non resident non domiciled clients’ accounts so to get them rid of all US tax inconvenience –filing potential tax returns included-
(…I hope being lucky enough to meet across some genuinely skilled/knowledgeable helping men and women round here…)
Very best answer:
Answer by b2fnow
Until you find out how to make FX profits, your question is a moot point.
More than 90% of FX traders shed funds. Throughout the procedure of studying to trade, you will meet and partner with other traders, brokers, and accountants that set up and manage your accounts that can answer your queries accurately based on the circumstances at hand, rather than some hypothetical situation that doesn’t yet apply.
Are the governments going to get their taxes? Just preserve great records, set aside a percentage of gains, and strategy on it. What you call “safe” is a subjective term that signifies something different to everybody.
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