Uk Forex Trading Beskatning , Uten Representasjon

BREAKING DOWN Skatt. Taksering er differensiert fra andre betalingsmåter, for eksempel markedsutveksling, fordi beskatning ikke krever samtykke og ikke er direkte knyttet til tjenester som er gjort. Regjeringen tvinger beskatning gjennom en implisitt eller eksplisitt trussel om kraft. Beskatning er lovlig forskjellig. enn utpressing eller en beskyttelsesrackete fordi den imponerende institusjonen er en regjering, ikke en privat aktør. Taksystemer har variert vesentlig på tvers av jurisdiksjoner og tid. I de fleste moderne systemer skjer det skatt på både fysiske eiendeler, for eksempel eiendom og spesifikke hendelser, for eksempel en salgstransaksjon Formuleringen av skattepolitikk er en av de mest kritiske og omstridte problemene i den moderne politikken. Taksjon i USA. Den amerikanske regjeringen ble opprinnelig finansiert på svært lite direkte beskatning. I stedet vurderte føderale byråer brukeravgifter for havner og andre myndigheter eiendom I tider med behov vil regjeringen bestemme seg for å selge statlige eiendeler og obligasjoner, eller utstede en som sessement til statene for tjenester utført Faktisk, Thomas Jefferson avskaffet direkte beskatning i 1802 etter å ha vunnet presidentskapet bare gjenværende avgiftene, som kongressen ble opphevet i 1817 Mellom 1817 og 1861, samlet den føderale regjeringen ingen interne inntekter. En inntektsskatt på 3 var belastet høyinntektsinntektene under borgerkrigen Det var ikke før den sekstitende endringen ble ratifisert i 1913 at den føderale regjeringen vurderte inntektsskatt som en vanlig inntektspost. Fra 2016 gjelder amerikansk skatt på varer eller aktiviteter som spenner fra inntekt til sigaretter til arv og til og med vinne en nobelpris i 2012, hevdet det amerikanske høyesterett at manglende kjøp av spesifikke varer eller tjenester, som helseforsikring, ble ansett som en skatt og ikke en bot. formål og begrunnelser for beskatning. mest grunnleggende funksjon av beskatning er å finansiere offentlige utgifter varierende begrunnelser og forklaringer for skatt har blitt tilbudt gjennom historien tidlig skatt ble brukt til su pport hersker klasser, heve hærene og bygge forsvar. Ofte har myndighet til å beskrive stammet fra guddommelig eller supranasjonal rett. Senere begrunnelser har blitt tilbudt på tvers av utilitaristiske, økonomiske eller moralske hensyn. Proponenter av progressive nivåer av beskatning på høyinntektsarbeidere hevder at skatter oppfordrer til en mer rettferdig samfunn Høyere avgifter på spesifikke produkter og tjenester, for eksempel tobakk eller bensin, har blitt begrunnet som avskrekkende for forbruk Advokater for offentlig godsteori hevder at skatter kan være nødvendige i tilfeller der privat levering av offentlige varer anses å være suboptimal, slik at som med fyr eller nasjonalt forsvar. er en divisjon av Mann Company CPA s PC Basert utenfor Denver Colorado, serverer vi stolt kunder nasjonalt. Kjernen i vår praksis gir Tax Planning og Tax Preparation tjenester til den aktive næringsdrivende. For ytterligere informasjon om hvordan vi kan hjelpe deg, vennligst bruk menylinjen øverst på skjermen for å lære om alle våre tjenester. Alle klienter som sender oss sin skatteinformasjon via EMAIL, bør også ringe til vår kontorleder, Carol Aguilar, for å bekrefte kvitteringen og bli logget inn i timeplanen. behandling av returbeløpet Tollfritt 888 465-2585. er en divisjon av Mann Company CPA s PC Kjernen i vår praksis er å levere skatteplanlegging og forberedelse til den aktive næringsdrivende. Vi tilbyr ekspertise innen skatteplanlegging og rapportering for aksjer, opsjoner, Forex og Futures. Vårt firma har betjent vellykkede personer, bedrifter og aktive forhandlere landsomfattende siden 1988 Vi gir ekspertskatt forberedelse for alle individuelle og forretningsmessige selvangivelser, inkludert statlige og lokale avkastningsmeldinger. Vi er også et Gold-medlem av Better Business Bureau, klikk lenken på vår hovedside for linken til vår BBB-rapport. Din konsultasjon eller skattesituasjon vil bli personlig adressert av Paul S Mann CPA, eier og grunnlegger av Mann Company CPA s PC Paul har over 20 års erfaring innen offentlig regnskap. Han ble uteksaminert med Honours i 1980 fra Bentley University , en privat og prestisjefylt regnskaps - og handelsskole i Boston, MA-området. Han var ansatt av et Big Eight regnskapsfirma og fungerte også som Chief F Inancial Officer of Oljeforetaket, før han startet sin egen CPA-praksis i 1988. Han er lisensiert CPA Colorado-lisens 9191 og medlem av både American Society of CPA s og Colorado Society of CPA s. Han bringer uovertruffen kompetanse og profesjonalitet i adressere din spesielle skattesituasjon. Bare sagt er de fleste skattemyndighetene ikke klar over de gunstige skattelovene som er spesifikke for verdipapirer. Vår oppgave er å hjelpe den aktive næringsdrivende å bli oppmerksom på og dra nytte av disse gunstige skattelovene, og hjelper deg derfor med å i stor grad redusere skatteforpliktelsene Vi forbereder avkastning for våre kunder landsomfattende. Først og fremst gir vi verktøyene for å hjelpe deg dramatisk å redusere inntektsskatteskyldighetene. Vi leder deg også gjennom labyrinten av IRS-retningslinjer som er spesifikke for lager og varehandlere. Vi lindrer Nødvendigheten av å spore individuelle aksjehandler i din dagskonto, eliminere et regnskapsmardom. Vi lindrer kravet om å utføre vaskealgsberegninger i din handelsportefølje. Vi vil enten utarbeide avkastningsavkastningen for deg eller gi eksempler på retur som du eller din skattemessige kan bruke som veikart. Vi gir verdifulle skatteplaneringsstrategier for den aktive aksjen eller commodities trader. We tilbyr telefon konsultasjoner med våre CPA eksperter til å svare på dine spørsmål. Sammendrag er vi her for å gi deg skatt reduksjon løsninger og annen informasjon spesifikk for din skattesituasjon Vi tilbyr en rekke produkter tjenester avgjørende for den aktive næringsdrivende Redusere din skatt bite er 90 planlegging og 10 forberedelse, nå er det tid til å handle. Vi kan ikke altfor understreke betydningen for den aktive næringsdrivende om å vedta disse skattestrategier. Det er absolutt kritisk. Omgå den historiske 3.000 netto kapitalutslagsregelen. De tillater fullstendig kostnadsutgift av handelsutgifter uten begrensning, og omgår dermed begrensningen på diverse spesifiserte fradrag. De aktiverer den aktive handel r for fortsatt å utnytte de gunstige langsiktige kapitalgevinstreglene. De gjør det mulig for den aktive næringsdrivende å omgå de restriktive vaskesalgsreglene som normalt brukes på investorer, og dermed lette et enormt rekordmøte mareritt. De tillater den aktive næringsdrivende å trekke ned tap på åpen så vel som lukkede stillinger. Vårt mål er å bistå den aktive næringsdrivende med å oppnå fordelene av disse nye skattelovene de er der for din fordel. Hvis du kvalifiserer til å utnytte disse lovene, er virkningen på din inntektsskattesituasjon dramatisk La oss se på et eksempel. Til ck Trader A har følgende handelsresultater I år ett, gir han 100.000 profitt og betaler 35.000 i skatt. I år to, gjør han det heller ikke, og faktisk taper 100.000. I år to kan bare trekke et 3.000 tap og kan ikke tilbakeføre det resterende kapitalet tapet mot tidligere års gevinster eller skatt. Han brøt selv i sin handelsvirksomhet over en toårsperiode, men har betalt over 30.000 i skatt til skattemyndighetene, derfor er han igjen alliert ned 30.000.Stock Trader B er en Daytradertax-klient Han hadde nøyaktig samme handelsresultater som Trader A Trader B, men kan trekke alle sine 100 000 trading-tap i år to. Han kan kompensere sine ektefeller lønn og alle andre typer inntekter. Hvis han har tap igjen, han kan til og med gå tilbake og endre sin første års s selvangivelse og få de skatter tilbake Hans skatteregning for samme periode er 0 00 Han er virkelig jevn Plus, hans skatteregning i år ett var mindre enn 35 000 betalt av Trader A fordi han kunne skrive ut alle sine utgifter mot fortjenesten hans, som Trader A ikke kunne. Vi tilbyr en rekke tjenester og produkter som spenner fra Individuell og Bedriftsskattforberedelse til informasjonsskattedirektører. For ytterligere informasjon som beskriver alt ut produkter og tjenester, vennligst besøk produktliste siden. Dette nettstedet er her for din fordel og står bak det er ekte mennesker, lisensiert CPA s, med ekte ekspertise. Vi vil høre fra deg og vi vil hjelpe deg. bør betraktes som en uunnværlig del av dagen handelsmennens løpende forretningsregime Dette nettstedet tilbyr verktøy tilgjengelig for den aktive næringsdrivende, som hvis det gjennomføres riktig, kan bety besparelser på bokstavelig talt tusenvis av skattepenger i et enkelt år. Vi håper denne informasjonen har vært gunstig for deg, og vi gleder oss til å få deg som en verdsatt kunde Vi gjør løftet om at din personlige skattesituasjon er av største betydning for oss, og vi vil streve for å hjelpe deg på noen måte som vi er i stand til. Takk for at du besøker. Mann Company CPA s PC Paul S Mann CPA. Forex Galaxy Scalper. Jeg er stolt av å være en tilhenger av dette talentfulle utviklingslaget, og i dag skal jeg fortelle deg alt du trenger å vite Les mer F7System er en ny Forex EA av Peter Mc Namee Forex Galaxy Scalper å laste ned indikatoren Zwuk Forex Peter hevder å ha utviklet en neste generasjons automatisert handelsalgoritme fordi Forex trading ikke må være vanskelig. Det første svaret fra det binære alternativet s fellesskap er ekstremt positivt og jeg er 100 ombord Les mer Forex Steam, min favoritt av alle handelssystemer er frisk og ny med en oppdatering bygget for å ta overskudd til et helt nytt nivå. Jeg har kjørt Forex Robot Nation i over 5 år nå og jeg kan ærlig si at jeg er blåst bort av denne EA jeg har testet det i flere måneder, og resultatene er enorme Forex Galaxy Scalper Small Home Business i Tokelau Scalper Real Money Performance Test av Forex Galaxy Scalper fra ForexPeaceArmy All FPA ytelse Tester blir ufiltrert, trukket direkte fra MT4 Systemet er bygget for å handle hver dag, inkluderer en intellektuell ta fortjeneste og kommer med innstillinger som fungerer for alle nivåer av handelsfolk. Bare noen få måneder før deres forbløffende fem års jubileum, forex robotten. systemet er utformet på 3 prinsipper, lønnsomhet, robusthet og brukervennlig Forex Galaxy Scalper I dag skal jeg ta en nærmere titt på denne Forex EA og diskutere fordeler og ulemper for Forex Robo t Nation fellesskap Les mer Covert FX er en ny Forex robot med over 443 profitt på mindre enn et halvt år. handel 10 valuta Wechselkurse I sterreich Scalper Utviklerne av systemet hevder at deres programvare viser at det er mulig å ha et risikobeløp som favoriserer belønningen mens du får en enorm fortjeneste I dag skal jeg vurdere systemet og informere Forex Ny State 529 Investeringsalternativer Les mer FXCharger er en ny Forex-robot som lover å gjøre forhandlere 600 årlig. Dette er NÅ 1 Binary Options-programvaren i mitt arsenal og er et must for enhver type handelsmann Les mer Forex Fury er fremtiden for automatisert handel Jeg har testet det i flere måneder, og resultatene er enorme Forex Galaxy Scalper 777binary Options Kalkulator Ta 1 punkt Dette er for tiden den beste Forex robot på markedet, og ingen Forex Galaxy Scalper I dag vil jeg se på roboten slik at Forex Robot Nation leserne får en forståelse av hvordan det fungerer Forex Galaxy Utviklerne av systemet hevder at deres programvare viser at det er mulig å ha et risikobeløp som favoriserer belønningen mens du får en enorm fortjeneste I dag skal jeg vurdere systemet og informere Forex. Binary5 er et 5 minutters binært alternativ trading signal system som tar markedet ved storm Forex Galaxy Scalper Denne programvaren bruker en rask breakout strategi utviklet av Jared Alternativer Metoder Visual Basic Gold Les mer Tri Star Trader er et nytt Forex trading system bygget for å hjelpe handelsmenn cash ut over 15.000 pips av fortjeneste i år Binær Alternativ I Iran I dag vil jeg gjennomgå denne programvaren og la Forex-roboten nasjonalt samfunn forstå om denne handelsstrategien er klar til å være en langsiktig vinner, eller bare. Følg våre bransjer i dag stabilitet i livet ditt. Vi sendte over 1 million signaler over hele verden Abonner på dag for å begynne å tjene penger. Er du klar til å bli med? 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Enhver form for handel i enhver markedsforhold er ekstremt risikabelt og kan medføre store økonomiske tap på kort tid. Det er betydelig eksponering å risikere i enhver transaksjon, inkludert men ikke begrenset til, potensialet for å endre politiske og økonomiske forhold som kan vesentlig påvirke prisen eller likviditeten til en handel. Handel er en utfordrende og potensielt lønnsom mulighet for de som er utdannede og erfarne i handel. Før de bestemmer seg å delta på markedene, bør du nøye vurdere dine mål, nivå av erfaring og risiko appetitt viktigst d ikke investere penger du ikke har råd til å miste Mål, erfaring, risiko for tap, innflytelse, kredittverdighet, begrenset regulatorisk beskyttelse, markedsvolatilitet som kan vesentlig påvirke prisen eller likviditeten til en handel, kommunikasjonsfeil osv. kan sette deg i fare for tap av noe eller hele din kapital og eller eiendeler Muligheten er at du kan opprettholde et totalt tap av innledende marginfond og være pålagt å sette inn ekstra midler for å opprettholde posisjonen din, ikke tilbyr å kjøpe eller selge og av de finansielle instrumentene nevnt i enhver tjeneste vi tilbyr og ikke representerer seg selv som en registrert investeringsrådgiver eller meglerforhandler garanterer ikke eller representerer at medlemmer som handler på forslag som er nevnt eller diskutert i noen av tjenestene vi tilbyr, vil resultere i en fortjeneste. Alle beslutninger om å handle på noen forslag gjort i enhver tjeneste vi tilbyr er det eneste ansvaret for medlemmet ikke holdes ansvarlig eller ansvarlig for medlemmer eller andre parter for tap som kan opprettholde når du handler DIN handels - og økonomiske tiltak er bare DIN BESLUTNING, og ikke av eller ansatte kan ha posisjoner i ulike finansielle instrumenter nevnt i noen av tjenestene vi tilbyr og er ikke forpliktet til å avsløre når en stilling varvervet, antall stillinger eller en stilling er lukket. 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EKSKLUSJONER AV HVERT GJENNOMFØRING HAR GJELDET TIL NØYAKTIGT FORTEGNELSE AV DETTE PRODUKTET, OG DETS POTENTIELLE, ER INGEN GARANTI AT DU VIL VÆRE GARANTIER VED BRUK AV TEKNIKENE OG IDENTENE ELLER PROGRAMVAREN SOM FØLGES MED DENNE NETTSIDEN EKSEMPLER PÅ DENNE SIDEN SKAL IKKE TOLKES SOM EN LØNN ELLER GARANTI FOR RESERVERING VEDRØRENDE POTENTIAL ER HELE VILKÅR PÅ PERSONEN BRUKER INFORMASJONEN SOM INKLUDERT TIL DENNE SIDEN, IDENE OG TEKNIKKENE VI VI IKKE RAPPORTERER DET SOM FÅ EN RIKTIG SKJEMA DIN LEVEL OF SUCCESS IN ATTAINING THE RESULTS CLAIMED IN THIS PAGE DEPENDS ON THE TIME YOU DEVOTE TO THE IDEAS AND TECHNIQUES MENTIONED, YOUR FINANCES, KNOWLEDGE AND VARIOUS SKILLS SINCE THESE FACTORS DIFFER ACCORDING TO INDIVIDUALS, WE CANNOT GUARANTEE YOUR SUCCESS OR INCOME LEVEL NOR ARE WE RESPONSIBLE FOR ANY OF YOUR ACTIONS MATERIALS IN THIS PAGE MAY CONTAIN INFORMATION THAT INCLUDES FORWARD-LOOKING STATEMENTS THAT GIVE OUR EXPECTATIONS OR FORECASTS OF FUTUR E EVENTS YOU CAN IDENTIFY THESE STATEMENTS BY THE FACT THAT THEY DO NOT RELATE STRICTLY TO HISTORICAL OR CURRENT FACTS THEY USE WORDS SUCH AS ANTICIPATE, ESTIMATE, EXPECT, PROJECT, INTEND, PLAN, BELIEVE, AND OTHER WORDS AND TERMS OF SIMILAR MEANING IN CONNECTION WITH A DESCRIPTION OF POTENTIAL EARNINGS OR FINANCIAL PERFORMANCE ANY AND ALL FORWARD LOOKING STATEMENTS HERE OR ON ANY OF OUR SALES MATERIAL ARE INTENDED TO EXPRESS OUR OPINION OF EARNINGS POTENTIAL MANY FACTORS WILL BE IMPORTANT IN DETERMINING YOUR ACTUAL RESULTS AND NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE RESULTS SIMILAR TO OURS OR ANYBODY ELSE S, IN FACT NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE ANY RESULTS FROM OUR IDEAS AND TECHNIQUES IN OUR MATERIAL. AUTO TRADER TERMS AND CONDITIONS The following describes the terms and conditions upon which Quantum Binary Signals offers access to its web Quantum Binary Signals Platform or Quantum Binary Signals Trading Platform to you the customer hereinafter you or user or custo mer and the use of its services hereinafter the Agreement or User Agreement or Online Services Agreement. This Agreement describes the terms, conditions and risks applicable to your use of our services available under the domain and sub-domains of Quantum Binary Signals If you have any questions regarding this Agreement please contact Customer Support. You must read, agree with and accept all of the terms and conditions contained in this Agreement without modifications, which include those terms and conditions expressly set forth below and those incorporated by reference, before you may use or download Quantum Binary Signals. By continuing to access or use the application, you agree to follow the Terms and Conditions of this Agreement as they may apply to you This Agreement is effective upon acceptance in registration for customers joining a new subscription, or upon receipt of e-mail notification by other users. The Agreement is otherwise effective for all users If you do not agree to be bound by the terms and conditions of this Agreement, do not use or access our services Please inform us in writing immediately. By using our services you agree to be bound fully by all our terms and conditions including our broker terms and conditions. Quantum Binary Signals may amend or revise this Agreement at any time by posting the amended terms on the application and, by continuing to use the platform you affirm that you agree to be bound by future revisions. Whenever such changes to the terms however, Quantum Binary Signals will do our best to inform its users of scheduled maintenance and when able, will perform these during off-peak hours. Links Quantum Binary Signals provides links to other sites that are controlled or offered by third parties Such links may represent affiliation with respect to such site, its owners or its providers. Quantum Binary Signals cautions you to ensure that you understand the risks involved in using such sites before retrieving, using, relying upon or pur chasing anything via the Internet You agree that under no circumstances will you hold Quantum Binary Signals liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites. Quantum Binary Signals proposes links to affiliate brokers Those brokers appear in most comparison websites and are well placed Quantum Binary Signals simply based itself on these comparative tests and disclaims any responsibility for registering with those brokers The choice of broker stays your responsibility If you have doubts or suspicions about any affiliate broker, please keep Quantum Binary Signals notified. TRADEMARKS you agree that we cannot guarantee the proper operation of your settings No system exists that could assure you that transactions on the market should bring you great benefits, nor is it possible to guarantee, that your transactions will yield favorable results The risk information presented here does not reflect all of the risks as well as o ther important aspects intrinsic to the market Therefore, before starting to trade, you should learn the specifics of trading on markets in detail. Quantum Binary Signals PLATFORM The Quantum Binary Signals trading platform named Auto Trader is a trade copying software which receive trading signals from an proprietary algorithm developed by Quantum Binary Signals Once the signal is received, the Quantum Binary Signals uses the client s account settings and preferences to take the trading position on the client s broker Quantum Binary Signals is not responsible for any incidents that may happen during this process This includes, but is not limited to, incorrect trading positions or amounts. RISK OF LOSS The risk of loss in trading can be substantial You should therefore carefully consider whether such trading is suitable for you in light of your financial condition When trading on margin, you may sustain a total loss of the initial margin funds and any additional funds that you deposit wi th your broker to establish or maintain a position in the market Before deciding to trade and or invest, you should carefully consider your objectives, level of experience, and risk appetite The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not trade or invest money that you cannot afford to lose. By viewing this application and taking trades based off of provided signals or auto-trading on the Quantum Binary Signals trading platform, you fully understand and agree that the markets are subject to numerous implicit and explicit risks, none of which Quantum Binary Signals can control or influence You therefore acknowledge and agree that all trading is solely at your own risk You should be aware of all the risks associated with trading and you should seek advice from an independent financial advisor before trading. You also agree to bear complete responsibility for your choice of signal provider s and acknowledge that Qua ntum Binary Signals has not and will not make any specific recommendations to you upon which you are entitled to rely You also understand that the information disseminated on this application represents impersonal, disinterested opinions and commentary of Quantum Binary Signals and its employees, agents, and affiliates but that the information does not constitute investment advice or a recommendation to trade using any specific signal provider. THIRD PARTY SIGNAL PROVIDERS Quantum Binary Signals makes no guarantee, implied or otherwise, as to the information provided to clients by third party signal providers, or through their respective websites As such, use of these third party signal providers is at the client s own risk You acknowledge and agree that Quantum Binary Signals is not responsible for any shortcomings, trading system errors, charging or billing errors, misrepresentations, or any wrongdoing on the part of said third party signal provider s or Quantum Binary Signals. The ret urns for signal providers listed throughout this application are hypothetical in that they represent returns in a model account The model account may rise or fall by the exact single contract profit and loss achieved by clients trading actual money pursuant to the listed system s trading signals on the appropriate dates, or if no actual client profit or loss is available, by the hypothetical single contract profit and loss of trades generated by the system s trading signals over the test period The hypothetical model account begins with the initial capital level listed, and is reset to that amount each month The percentage returns reflect inclusion of commissions, spreads, interest, fees, and the cost of the system The commission, spread, interest and fee costs included in the calculations varies per system. The actual percentage gains losses experienced by clients will vary depending on many factors, including, but not limited to starting account balances, market behavior, the investor s account settings, and the performance of the signal provider Because of this, actual percentage gains losses experienced by investors may be materially different than the percentage gains losses as presented on this website. You understand that there can be no guarantee that your use of the signal providers or the information disseminated on this application will result in profits Further, you understand that your use of the signal providers or the information disseminated on this application may result in substantial losses. PLEASE READ CAREFULLY THE DISCLAIMER REGARDING HYPOTHETICAL RESULTS BELOW HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS. Every effort has been made to ensure that the information on this application is accurate and complete, but neither Quantum Binary Signals nor our officers, principals, employees or agents shall be liable to any person for any losses, damages, cost s or expenses including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages resulting from any errors in, omissions of or alterations to the information The foregoing shall apply regardless of whether a claim arises in contract, tort, negligence, strict liability otherwise. Any specific investment or investment service contained or referred to in this application may not be suitable for all clients You should not rely on any of the information as a substitute for the exercise of your own skill and judgment in making such a decision on the appropriateness of such investments. Performance Statistics Quantum Binary Signals has not undertaken to verify the completeness or accuracy of any of the information and statistics provided by third parties While the information and statistics given are believed to be complete and accurate, we cannot guarantee their completeness or accuracy As a term and condition of your use of this website, you exp ressly hold Quantum Binary Signals harmless and waive any claim you have or may have as a result of any of the information and statistics provided by third parties contained on this website being incomplete or inaccurate. Past performance posted by Signal and Systems Providers Providers , is not necessarily indicative of future results No representation is made that any account is likely to achieve profits or losses similar to those shown In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. The composite monthly results are primarily hypothetical results of the master demo and its representation of the Providers, though performance results displayed may represent a combination of live and hypothetical results and are not exclusive to either There are numerous other factors related to markets in general or to the implementation of any specific trading program that cannot b e fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results There is no guarantee that one applying these methodologies would have the same results as the hypothetically posted Since trading successfully depends on many elements including but not limited to a trading methodology and a trader s own psychology, Quantum Binary Signals does not make any representation whatsoever that the signals and trades provided to you by the Third Party Signal Providers might be or are suitable or that they would be profitable for you. Please realize the risk with any investment and consult investment professionals before proceeding Should you decide to trade any or all of these systems signals, it is your decision. ONLINE TRADING RISKS There are risks associated with utilizing an Internet-based trading services including, but not limited to, hardware, software or Internet connection Since Quantum Binary Signals does not contro l signal power, its reception or routing via Internet, configuration of your hardware or software, or reliability of your Internet connection, you agree that you are solely responsible for such failures, including communication failures, disruptions, distortions and delays in trading. Volatility or liquidity in the markets may prevent orders from being executed at advantageous prices, or at all Quantum Binary Signals shall not be liable to any person for any losses, damages, costs or expenses including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages occurring because trades cannot be executed due to market conditions, or from any errors of your dealer. Quantum Binary Signals recommends that clients should be cautious when they use an iPhone, Blackberry or other handheld mobile device for trading or receiving data from the Quantum Binary Signals platform Handheld mobile devices depend on wireless connectivity, are subject to the lim itations of 3G, Wi-Fi and GPRS networks restrictions, and may not provide the investor with the same functions as accessing the Quantum Binary Signals platform from a web browser Quantum Binary Signals shall not be liable to any person for any losses, damages, costs or expenses including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages resulting from the client s use of a handheld mobile device. REFUND POLICY. Due to the nature of providing auto trading service to clients, Quantum Binary Signals does not offer refunds and does NOT cover potential losses on the client s binary options account s. FOREX this includes education material, signals, price quotes and charts, and analysis Please be aware of the risks associated with trading the financial markets never invest more money than you can risk losing The risks involved in trading binary options are high and may not be suitable for all investors Quantum Binary Signals doesn t retain responsibility for any trading losses you might face as a result of using the data hosted on this application The data and quotes contained in this website are not provided by exchanges but rather by market makers So prices may be different from exchange prices and may not be accurate to real time trading prices They are supplied as a guide to trading rather than for trading purposes. Financial trading using Binary Options is an excellent way in which you can profit from the movements in financial markets on a wide range of assets. However as with any form of financial investment there are associated risks While your liability on your binary options account is limited, you can still face a total loss of capital if you don t manage money in your trading account correctly and observe best practices to control your risks. As with any form of financial investment you are advised to familiarize yourself with all of the risks involved prior to trading If you are unsure as to the suitability of trading with binary options it is recommend that you refrain from doing so and seek independent financial advice before making use of any of the material found on this application. While all information on this application aims to be as accurate as possible, it does not constitute direct investment advice Furthermore we will not be held liable for any outcomes, positive or otherwise from use of information published on this application The information provided by your intermediary must be clear and understandable To avoid setbacks, remember the saying Never invest in anything you don t understand. It is the Client s responsibility to verify that all Transactions and Services received by him are not contradictory to any applicable law and to undertake any other legal duty emanating from the use of the Site Client holds sole liability for all Transactions in his Account The Client is responsible for securing his Username and Password for his Account The Client hold sole responsibility for any damage caused due to any act or omission of the Client causing inappropriate or aberrant use of his Account. It is manifestly stated and agreed by the Client that the Client bears sole responsibility for any decision made and or to be made by the Client relying on the content of the Site and no claim and or suit of any kind will arise to that effect against Quantum Binary Signals and or its directors and or employees and or functionaries and or agents the Company and or its Agents and or beneficiary owners The Company and or its Agents will hold no responsibility for loss of profits due to and or related to the Site, Transactions carried out by the Client, Services and the Terms of Use or any other damages, including special damages and or indirect damages or circumstantial damages caused, except in the event of malicious acts made by the Company. Without limitation of the aforesaid and only in the event of peremptory judgment by court or other authorized legal institution adjudicati ng that the Company and or its Agents hold liability towards the Client or third party, the Company s liability, in any event, will be limited to the amount of money first deposited and or transferred by the Client to the Account in respect of the Transaction which caused the liability of the Company and or its Agents if such was caused. SEVERABILITY Should any part or provision of this Agreement be held unenforceable or in conflict with the applicable law of any jurisdiction, the validity of the remaining parts or provisions shall not be affected there by. Effective October 18, 2010 the U S Commodity Futures Trading Commission CFTC will implement the first final rule of the Dodd-Frank Wall Street Reform and Consumer Protection Act 848 page PDF FINReg, 2010 For USA citizens, this will effectively prohibit access to offshore retail forex accounts. Title XIII of the Food, Conservation and Energy Act of 2008 the Farm Bill reauthorizes the CFTC to regulate retail forex and make the rules that trading will be subject to. Regarding a U S citizen trading at any U S FCM such as Gain Capital, FXCM, FXDD, Alpari and any of their off shore entities such as Gain UK, FXCM UK FXDD Malta etc On October 18, 2010 if your account is traded at any of these brokers, it will be closed and you will be asked to fill out new forms You will be mandated by your broker to trade Forex at the U S locations of any off shore broker Highlights of the new U S rules. NEW RULES EFFECTIVE OCTOBER 18, 2010 for U S RESIDENTS ONLY.50 1 margin on most FX pairs including the four U S crosses Euro USD, GBP USD, USD JPY and USD CHF.20 1 margin on most FX exotics including all other pairs offered i e GBP JPY etc These margin levels can be reduced at any time by the CFTC. NO HEDGING of positions will be allowed Currently if you are at an off shore entity you can hedge. FIRST IN FIRST OUT FIFO If you have multiple positions on a pair you must close them out in order which they were opened. No Spot Gold and Silver. No Fo reign Banks or Off-Shore FX Brokers. Most retail OTC forex transactions are banned, pursuant to Section 742 c of the Act. A person shall not offer to, or enter into with, a person that is not an eligible contract participant, any agreement, contract, or transaction in foreign currency except pursuant to a rule or regulation of a Federal regulatory agency allowing the agreement, contract, or transaction under such terms and conditions as the Federal regulatory agency shall prescribe. RULES IN EFFECT PRIOR TO OCTOBER 18, 2010 for U S RESIDENTS.100 1 MARGIN ON ALL PAIRS This means that you now receive 10 00 per pip for every standard lot you trade Some of you trade at 200 1 margin which gives you an even higher payoff when you have a winning trade. HEDGING If you trade at off shore entities you may hedge positions. FIRST IN FIRST OUT If you are trading off shore you may close any of your positions in any order you please. PRACTICAL EFFECT OF THE CHANGES. On Oct 18 2010 you will receive from 2 00 to 5 00 for every pip traded depending on the pair You will need up to 5 times the amount of money to do the same trans actions you conduct today. HEDGING You will not be able to use any Hedging strategies moving forward. FIRST IN FIRST OUT You will no longer be able to choose the order in which you can close your trades. THESE FOLLOWING ARE MOSTLY FULLY IN EFFECT NO LATER THAN July 15, 2011 for U S RESIDENTS. Elimination of OTC Forex Effective 90 days from its inception, the Dodd-Frank Act bans most retail OTC forex transactions as per section 742 C of the Dodd-Frank Act. Elimination of OTC Metals As for OTC precious metals such as gold or silver, Section 742 a of the Act prohibits any person which again includes companies from entering into, or offering to enter into, a transaction in any commodity with a person that is not an eligible contract participant or an eligible commercial entity, on a leveraged or margined basis. Small Pool Exemption Introducing Brokers Eliminated Pursuant to Section 403 of Act, the private adviser exemption, namely Section 203 b 3 of the Investment Advisers Act of 1940 Advisers A ct , will be eliminated within one year of the Act s effective date July 21, 2011.Alteration to financial qualifications Section 413 a of the Act alters the financial qualifications of who can be considered an accredited investor, and thus a qualified as eligible participant QEP It is important to note that the revised accredited investor standard only applies to new investors and does not cover existing investors However, additional subscriptions from existing investors are generally treated as requiring confirmation of continuing investor eligibility. Close Accounts Most financial institutions have informed their U S clients about the implications of the Dodd-Frank act However, if you still have an account, contact your forex broker in regards to the Dodd-Frank act and make arrangements to withdraw your funds. Non U S based non U S resident traders are not necessarily effected by the Dodd-Frank act. George Soros announced that his fund is closed to outside investors as of July 2011 and is distributing 1B in client funds back to them Apparently the remaining 24 5B of family money will be used as he deems most appropriate. There are three ways private investors can trade in FOREX directly or indirectly. The spot market default taxation is generally under IRC 988 for ordinary gains losses. Forwards and futures. default taxation is under IRC 988 for ordinary gains losses. unless items normally M2M at December 31st, in which case taxation is under IRC 1256 for 60 40 capital gains losses. default taxation is under IRC 988 for ordinary gains losses. unless items normally M2M at December 31st, in which case taxation is under IRC 1256 for 60 40 capital gains losses. The above defaults can be elected out of. IRC 988 items can be taxed under IRC 1256 for 60 40 capital gains losses if the proper election is made. for certain hedge funds defined under under 988 c 1 E iii this results in special 1256 0 100 capital gains losses. IRC 1256 items can be taxed under IRC 988 if the proper election is made. Generally for IRC 988 items to be taxed under IRC 1256 the election is made before the close of the day on which such transaction is entered into, pursuant to I RC 988 a 1 B and Treas Reg 1 988-3 b 4 This can be verified as being done when the transactions are executed in an isolated, separate brokerage account as described under Treas Regs 1 988-3 b 5 ii D. Generally for IRC 1256 items to be taxed under IRC 988 the election is made on or before January 1st or, if later on or before when taxpayer holds a position pursuant to IRC 988 c by the individual or by the partners of a partnership. Character of the gain or loss by default Currency gains and losses of individuals when engaging in business or investment type activities are ordinary gains and losses See 988 a 1 A and 988 e. Currency gains of individuals engaging in personal activities are capital gains but pursuant to 988 e 2 B personal currency gains per transaction that are under 200 are generally exempt Currency losses of individuals engaging in personal activities are nondeductible personal expenditures See 165 and 262. 1 165-1 e Limitation On Losses Of Individuals In the case of an individual, the deduction for losses granted by section 165 a shall, subject to the provisions of section 165 c and paragraph a of this section, be limited to. Losses incurred in a trade or business. Losses incurred in any transaction entered into for profit e g an Investment though not connected with a trade or business and. Losses of property not connected with a trade or business and not incurred in any transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft, and if the loss involved has not been allowed for estate tax purposes in the estate tax return For additional provisions pertaining to the allowance of casualty and theft losses, see 1 165-7 and 1 165-8, respectively. Reporting by individual taxpayers filing IRS form 1040 Ordinary gains and losses are treat ed as interest income or interest expense. Some taxpayers use Form 4797, Part II. Some taxpayers use form 1040, line 21 instead of form 4797.Any other appropriate place where interest income or interest expense should be reported losses from a single position that exceed 50,000 generally need to be reported on IRS form 8886 as well. Capital Gains and Losses are reported on Schedule D and, if appropriate, on IRS form 6781 If the IRC 988 election was made then the taxpayer is required to attach a verification statement. Pooling funds PAMM Percentage Allocation Management Module or sometimes Percentage Allocation Money Management LAMM Lot Allocation Management Module MAM Multi-Account Management. Currency and Forward Currency Contracts. Foreign currency transactions present issues related to the timing of recognition, the character capital or ordinary , and the source domestic or foreign of the gain or loss In 1986, Congress enacted comprehensive tax laws concerning the treatment of foreign cur rency transactions 333 Prior to those laws, various rulings and court decisions provided guidance as to the treatment of such transactions 334. Footnote 333 985-989 For a detailed discussion of foreign currency transactions, see 184 T M Transactions in Stock, Securities, and Other Financial Instruments. Footnote 334 Rev Rul 74-7, 1974-1 C B 198 Foreign currency is capital asset gain or loss realized on reconversion of currency is capital Gillin v U S 423 F 2d 309 Ct Cl 1970 American Home Prods Corp v U S 601 F 2d 540 Ct Cl 1979 Foreign currency is capital asset Natl - Standard Co v Comr 80 T C 551 1983 , aff d, 749 F 2d 369 1984 Change in value of U S dollars in relation to foreign currencies produces ordinary gain or loss United States currency might constitute a capital asset, however, if it is not legal tender, not in circulation, or valued in the market primarily by its numismatic rather than its face value See California Fed Life Ins Co v Comr 76 T C 107 1981 , aff d, 680 F 2d 85 9th Cir 1982 U S Double Eagle gold coins are capital assets. The exchange gain or loss in a foreign currency denominated transaction arises due to a change in the exchange rate between the booking date the date that an asset or liability is taken into account for U S tax purposes and the date on which p ayment is made or received 345 With certain exceptions, the exchange gain or loss is treated as ordinary income or loss 346. Footnote 345 988 b. Footnote 346 988 a 1 A. Forward contracts for the sale of foreign currency constitute property interests 347 Thus, an assignment of a currency futures contract produces capital gain or loss under general tax principles Under the comprehensive tax laws enacted in 1986, capital gain or loss treatment is still available for forward contracts, future contracts, or options in foreign currencies if the contracts or options are otherwise capital assets, are not part of a straddle transaction, and are identified prior to the close of the day on which the transactions are entered into 348. Footnote 347 Carborundum Co v Comr 74 T C 730 1980 PLR 7847004. Footnote 348 988 a 1 B. Internal Revenue Code Sec 988 Treatment Of Certain Foreign Currency Transactions.988 a General Rule Notwithstanding any other provisions of this chapter-- 988 a 1 Treatment As Ordinary Income Or Loss 988 a 1 A In General Except as otherwise provided in this section, any foreign currency gain or loss attributable to a sectio n 988 transaction shall be computed separately and treated as ordinary income or loss as the case may be.988 a 1 B Special Rule For Forward Contracts, Etc Except as provided in regulations, a taxpayer may elect to treat any foreign currency gain or loss attributable to a forward contract, a futures contract, or option described in subsection c 1 B iii which is a capital asset in the hands of the taxpayer and which is not a part of a straddle within the meaning of section 1092 c , without regard to paragraph 4 thereof as capital gain or loss as the case may be if the taxpayer makes such election and identifies such transaction before the close of the day on which such transaction is entered into or such earlier time as the Secretary may prescribe.988 a 2 Gain Or Loss Treated As Interest For Certain Purposes To the extent provided in regulations, any amount treated as ordinary income or loss under paragraph 1 shall be treated as interest income or expense as the case may be.988 a 3 Sourc e 988 a 3 A In General Except as otherwise provided in regulations, in the case of any amount treated as ordinary income or loss under paragraph 1 without regard to paragraph 1 B , the source of such amount shall be determined by reference to the residence of the taxpayer or the qualified business unit of the taxpayer on whose books the asset, liability, or item of income or expense is properly reflected.988 a 3 B Residence For purposes of this subpart-- 988 a 3 B i In General The residence of any person shall be-- 988 a 3 B i I in the case of an individual, the country in which such individual s tax home as defined in section 911 d 3 is located, 988 a 3 B i II in the case of any corporation, partnership, trust, or estate which is a United States person as defined in section 7701 a 30 , the United States, and 988 a 3 B i III in the case of any corporation, partnership, trust, or estate which is not a United States person, a country other than the United States. If an individual does not have a tax home as so defined , the residence of such individual shall be the United States if such individual is a United States citizen or a resident alien and shall be a country other than the United States if such individual is not a United States citizen or a resident alien.988 a 3 B ii Exception In the case of a qualified business unit of any taxpayer including an individual , the residence of such unit shall be the country in which the principal place of business of such qualified business unit is located.988 a 3 B iii Special Rule For Partnerships To the extent provided in regulations, in the case of a partnership, the determination of residence shall be made at the partner level.988 a 3 C Special Rule For Certain Related Party Loans Except to the extent provided in regulations, in the case of a loan by a United States person or a related person to a 10-percent owned foreign corporation which is denominated in a currency other than the dollar and bears interest at a rate at le ast 10 percentage points higher than the Federal mid-term rate determined under section 1274 d at the time such loan is entered into, the following rules shall apply.988 a 3 C i For purposes of section 904 only, such loan shall be marked to market on an annual basis.988 a 3 C ii Any interest income earned with respect to such loan for the taxable year shall be treated as income from sources within the United States to the extent of any loss attributable to clause i. For purposes of this subparagraph, the term related person has the meaning given such term by section 954 d 3 , except that such section shall be applied by substituting United States person for controlled foreign corporation each place such term appears.988 a 3 D 10-percent Owned Foreign Corporation The term 10-percent owned foreign corporation means any foreign corporation in which the United States person owns directly or indirectly at least 10 percent of the voting stock.988 b Foreign Currency Gain Or Loss For purposes o f this section.988 b 1 Foreign Currency Gain The term foreign currency gain means any gain from a section 988 transaction to the extent such gain does not exceed gain realized by reason of changes in exchange rates on or after the booking date and before the payment date.988 b 2 Foreign Currency Loss The term foreign currency loss means any loss from a section 988 transaction to the extent such loss does not exceed the loss realized by reason of changes in exchange rates on or after the booking date and before the payment date.988 b 3 Special Rule For Certain Contracts, Etc In the case of any section 988 transaction described in subsection c 1 B iii , any gain or loss from such transaction shall be treated as foreign currency gain or loss as the case may be.988 c Other Definitions For purposes of this section-- 988 c 1 Section 988 Transaction 988 c 1 A In General The term section 988 transaction means any transaction described in subparagraph B if the amount which the taxpayer is entit led to receive or is required to pay by reason of such transaction.988 c 1 A i is denominated in terms of a nonfunctional currency, or 988 c 1 A ii is determined by reference to the value of 1 or more nonfunctional currencies 988 c 1 B Description Of Transactions For purposes of subparagraph A , the following transactions are described in this subparagraph.988 c 1 B i The acquisition of a debt instrument or becoming the obligor under a debt instrument.988 c 1 B ii Accruing or otherwise taking into account for purposes of this subtitle any item of expense or gross income or receipts which is to be paid or received after the date on which so accrued or taken into account.988 c 1 B iii Entering into or acquiring any forward contract, futures contract, option, or similar financial instrument. The Secretary may prescribe regulations excluding from the application of clause ii any class of items the taking into account of which is not necessary to carry out the purposes of this section by rea son of the small amounts or short periods involved, or otherwise.988 c 1 C Special Rules For Disposition Of Nonfunctional Currency 988 c 1 C i In General In the case of any disposition of any nonfunctional currency.988 c 1 C i I such disposition shall be treated as a section 988 transaction, and 988 c 1 C i II any gain or loss from such transaction shall be treated as foreign currency gain or loss as the case may be.988 c 1 C ii Nonfunctional Currency For purposes of this section, the term nonfunctional currency includes coin or currency, and nonfunctional currency denominated demand or time deposits or similar instruments issued by a bank or other financial institution.988 c 1 D Exception For Certain Instruments Marked To Market 988 c 1 D i In General Clause iii of subparagraph B shall not apply to any regulated futures contract or nonequity option which would be marked to market under section 1256 if held on the last day of the taxable year.988 c 1 D ii Election Out 988 c 1 D ii I In General The taxpayer may elect to have clause i not apply to such taxpayer Such an election shall apply to contracts held at any time during the taxable year for which such election is made or any succeeding taxable year unless such election is revoked with the consent of the Secretary.988 c 1 D ii II Time For Making Election Except as provided in regulations, an election under subclause I for any taxable year shall be made on or before the 1st day of such taxable year or, if later, on or before the 1st day during such year on which the taxpayer holds a contract described in clause i.988 c 1 D ii III Special Rule For Partnerships, Etc In the case of a partnership, an election under subclause I shall be made by each partner separately A similar rule shall apply in the case of an S corporation.988 c 1 D iii Treatment Of Certain Partnerships This subparagraph shall not apply to any income or loss of a partnership for any taxable year if such partnership made an election under subparagrap h E iii V for such year or any preceding year.988 c 1 E Special Rules For Certain Funds 988 c 1 E i In General In the case of a qualified fund, clause iii of subparagraph B shall not apply to any instrument which would be marked to market under section 1256 if held on the last day of the taxable year determined after the application of clause iv.988 c 1 E ii Special Rule Where Electing Partnership Does Not Qualify If any partnership made an election under clause iii V for any taxable year and such partnership has a net loss for such year or any succeeding year from instruments referred to in clause i , the rules of clauses i and iv shall apply to any such loss year whether or not such partnership is a qualified fund for such year.988 c 1 E iii Qualified Fund Defined For purposes of this subparagraph, the term qualified fund means any partnership if-- 988 c 1 E iii I at all times during the taxable year and during each preceding taxable year to which an election under subclause V applie d , such partnership has at least 20 partners and no single partner owns more than 20 percent of the interests in the capital or profits of the partnership.988 c 1 E iii II the principal activity of such partnership for such taxable year and each such preceding taxable year consists of buying and selling options, futures, or forwards with respect to commodities.988 c 1 E iii III at least 90 percent of the gross income of the partnership for the taxable year and for each such preceding taxable year consisted of income or gains described in subparagraph A , B , or G of section 7704 d 1 or gain from the sale or disposition of capital assets held for the production of interest or dividends.988 c 1 E iii IV no more than a de minimis amount of the gross income of the partnership for the taxable year and each such preceding taxable year was derived from buying and selling commodities, and 988 c 1 E iii V an election under this subclause applies to the taxable year. An election under subclause V for any taxable year shall be made on or before the 1st day of such taxable year or, if later, on or before the 1st day during such year on which the partnership holds an instrument referred to in clause i Any such election shall apply to the taxable year for which made and all succeeding taxable years unless revoked with the consent of the Secretary.988 c 1 E iv Treatment Of Certain Currency Contracts 988 c 1 E iv I In General Except as provided in regulations, in the case of a qualified fund, any bank forward contract, any foreign currency futures contract traded on a foreign exchange, or to the extent provided in regulations any similar instrument, which is not otherwise a section 1256 contract shall be treated as a section 1256 contract for purposes of section 1256.988 c 1 E iv II Gains And Losses Treated As Short-term In the case of any instrument treated as a section 1256 contract under subclause I , subparagraph A of section 1256 a 3 shall be applied by substituting 100 percen t for 40 percent and subparagraph B of such section shall not apply.988 c 1 E v Special Rules For Clause iii i 988 c 1 E v I Certain General Partners The interest of a general partner in the partnership shall not be treated as failing to meet the 20-percent ownership requirements of clause iii I for any taxable year of the partnership if, for the taxable year of the partner in which such partnership taxable year ends, such partner and each corporation filing a consolidated return with such partner had no ordinary income or loss from a section 988 transaction which is foreign currency gain or loss as the case may be.988 c 1 E v II Treatment Of Incentive Compensation For purposes of clause iii I , any income allocable to a general partner as incentive compensation based on profits rather than capital shall not be taken into account in determining such partner s interest in the profits of the partnership.988 c 1 E v III Treatment Of Tax-exempt Partners Except as provided in regulations, t he interest of a partner in the partnership shall not be treated as failing to meet the 20-percent ownership requirements of clause iii I if none of the income of such partner from such partnership is subject to tax under this chapter whether directly or through 1 or more pass-thru entities.988 c 1 E v IV Look-thru Rule In determining whether the requirements of clause iii I are met with respect to any partnership, except to the extent provided in regulations, any interest in such partnership held by another partnership shall be treated as held proportionately by the partners in such other partnership.988 c 1 E vi Other Special Rules For purposes of this subparagraph-- 988 c 1 E vi I Related Persons Interests in the partnership held by persons related to each other within the meaning of sections 267 b and 707 b shall be treated as held by 1 person.988 c 1 E vi II Predecessors References to any partnership shall include a reference to any predecessor thereof.988 c 1 E vi III Inadvertent Terminations Rules similar to the rules of section 7704 e shall apply.988 c 1 E vi IV Treatment Of Certain Debt Instruments For purposes of clause iii IV , any debt instrument which is a section 988 transaction shall be treated as a commodity.988 c 2 Booking Date The term booking date means-- 988 c 2 A in the case of a transaction described in paragraph 1 B i , the date of acquisition or on which the taxpayer becomes the obligor, or 988 c 2 B in the case of a transaction described in paragraph 1 B ii , the date on which accrued or otherwise taken into account.988 c 3 Payment Date The term payment date means the date on which the payment is made or received.988 c 4 Debt Instrument The term debt instrument means a bond, debenture, note, or certificate or other evidence of indebtedness To the extent provided in regulations, such term shall include preferred stock.988 c 5 Special Rules Where Taxpayer Takes Or Makes Delivery If the taxpayer takes or makes delivery in connection with any se ction 988 transaction described in paragraph 1 B iii , any gain or loss determined as if the taxpayer sold the contract, option, or instrument on the date on which he took or made delivery for its fair market value on such date shall be recognized in the same manner as if such contract, option, or instrument were so sold.988 d Treatment Of 988 Hedging Transactions 988 d 1 In General To the extent provided in regulations, if any section 988 transaction is part of a 988 hedging transaction, all transactions which are part of such 988 hedging transaction shall be integrated and treated as a single transaction or otherwise treated consistently for purposes of this subtitle For purposes of the preceding sentence, the determination of whether any transaction is a section 988 transaction shall be determined without regard to whether such transaction would otherwise be marked-to-market undersection 475 or 1256 and such term shall not include any transaction with respect to which an election is made under subsection a 1 B Sections492, 1092 and 1256 1 shall not apply to a transaction covered by this subsection.988 d 2 988 Hedging Transaction For purposes of paragraph 1 , the term 988 hedging transaction means any transaction-- 988 d 2 A entered into by the taxpayer primarily-- 988 d 2 A i to manage risk of currency fluctuations with respect to property which is held or to be held by the taxpayer, or 988 d 2 A ii to manage risk of currency fluctuations with respect to borrowings made or to be made, or obligations incurred or to be incurred, by the taxpayer, and 988 d 2 B identified by the Secretary or the taxpayer as being a 988 hedging transaction 988 e Application To Individuals -- 988 e 1 In General -- The preceding provisions of this section shall not apply to any section 988 transaction entered into by an individual which is a personal transaction.988 e 2 Exclusion For Certain Personal Transactions -- If-- 988 e 2 A nonfunctional currency is disposed of by an individual i n any transaction, and 988 e 2 B such transaction is a personal transaction, no gain shall be recognized for purposes of this subtitle by reason of changes in exchange rates after such currency was acquired by such individual and before such disposition The preceding sentence shall not apply if the gain which would otherwise be recognized on the transaction exceeds 200.988 e 3 Personal Transactions -- For purposes of this subsection, the term personal transaction means any transaction entered into by an individual, except that such term shall not include any transaction to the extent that expenses properly allocable to such transaction meet the requirements of-- 988 e 3 A section 162 other than traveling expenses described in subsection a 2 thereof , or 988 e 3 B section 212 other than that part of section 212 dealing with expenses incurred in connection with taxes. Added Pub L 99-514, title XII, Sec 1261 a , Oct 22, 1986, 100 Stat 2587, and amended Pub L 100-647, title I, Sec 1012 v 2 A , 3 , 4 , 6 - 8 , title VI, Sec 6130 a , b , Nov 10, 1988, 102 Stat 3529, 3530, 3717 Pub L 101-239, title VII, Sec 7811 i 7 , Dec 19, 1989, 103 Stat 2410 Pub L 105-34, title XI, Sec 1104 a , Aug 5, 1997, 111 Stat 788 Pub L 106-170, title V, Sec 532 b , Dec 17, 1999, 113 Stat 1860.Internal Revenue Code Section 1256 Contract A section 1256 contract is any 1 Regulated futures contract, 2 Foreign currency contract, 3 Nonequity option, 4 Dealer equity option, or 5 Dealer securities futures contract. Regulated futures contract This is a contract that 1 Provides that amounts that must be deposited to, or can be withdrawn from, your margin account depend on daily market conditions a system of marking to market , and 2 Is traded on, or subject to the rules of, a qualified board of exchange A qualified board of exchange is a domestic board of trade designated as a contract m arket by the Commodity Futures Trading Commission, any board of trade or exchange approved by the Secretary of the Treasury, or a national securities exchange registered with the Securities and Exchange Commission. Foreign currency contract This is a contract that 1 Requires delivery of a foreign currency that has positions traded through regulated futures contracts or settlement of which depends on the value of that type of foreign currency , 2 Is traded in the interbank market, and 3 Is entered into at arm s length at a price determined by reference to the price in the interbank market. Bank forward contracts with maturity dates that are longer than the maturities ordinarily available for regulated futures contracts are considered to meet the definition of a foreign currency contract if the above three conditions are satisfied. Special rules apply to certain foreign currency transactions These transactions may result in ordinary gain or loss treatment For details, see Internal Revenue C ode section 988 and Regulations sections 1 988-1 a 7 and 1 988-3.Internal Revenue Code Sec 988 Treatment Of Certain Foreign Currency Transactions.988 a General Rule Notwithstanding any other provisions of this chapter.988 a 1 Treatment As Ordinary Income Or Loss.988 a 1 A In General Except as otherwise provided in this section, any foreign currency gain or loss attributable to a section 988 transaction shall be computed separately and treated as ordinary income or loss as the case may be.988 a 1 B Special Rule For Forward Contracts, Etc Except as provided in regulations, a taxpayer may elect to treat any foreign currency gain or loss attributable to a forward contract, a futures contract, or option described in subsection c 1 B iii which is a capital asset in the hands of the taxpayer and which is not a part of a straddle within the meaning of section 1092 c , without regard to paragraph 4 thereof as capital gain or loss as the case may be if the taxpayer makes such election and identi fies such transaction before the close of the day on which such transaction is entered into or such earlier time as the Secretary may prescribe. Treas Regulations 1 988-1 a 7 1 988-1 a 7 Special rules for regulated futures contracts and non-equity options.1 988-1 a 7 i In general. Except as provided in paragraph a 7 ii of this section, paragraph a 2 iii of this section shall not apply to any regulated futures contract or non-equity option which would be marked to market under section 1256 if held on the last day of the taxable year.1 988-1 a 7 ii Election to have paragraph a 2 iii of this section apply. Notwithstanding paragraph a 7 i of this section, a taxpayer may elect to have paragraph a 2 iii of this section apply to regulated futures contracts and non-equity options as provided in paragraph a 7 iii and iv of this section.1 988-1 a 7 iii Procedure for making the election. A taxpayer shall make the election provided in paragraph a 7 ii of this section by sending to the Internal Revenue Service Center Examination Branch, Stop Number 92, Kansas City, MO 64999 a statement titled ELECTION TO TREAT REGULATED FUTURES CONTRACTS AND NON-EQUITY OPTIONS AS SECTION 988 TRANSACTIONS UNDER SECTION 988 c 1 D ii that contains the following.1 988-1 a 7 iii A The taxpayer s name, address, and taxpayer identification number.1 988-1 a 7 iii B The date the notice is mailed or otherwise delivered to the Internal Revenue Service Center.1 988-1 a 7 iii C A statement that the taxpayer including all members of such person s affiliated group as defined in section 1504 or in the case of an individual all persons filing a joint return with such individual elects to have section 988 c 1 D i and section 1 988-1 a 7 i not apply.1 988-1 a 7 iii D The date of the beginning of the taxable year for which the election is being made.1 988-1 a 7 iii E If the election is filed after the first day of the taxable year, a statement regarding whether the taxpayer has previously held a contract described in s ection 988 c 1 D i or section 1 988-1 a 7 i during such taxable year, and if so, the first date during the taxable year on which such contract was held and.1 988-1 a 7 iii F The signature of the person making the election in the case of individuals filing a joint return, the signature of all persons filing such return. The election shall be made by the following persons in the case of an individual, by such individual in the case of a partnership, by each partner separately effective for taxable years beginning after March 17, 1992, in the case of tiered partnerships, each ultimate partner in the case of an S corporation, by each shareholder separately in the case of a trust other than a grantor trust or estate, by the fiduciary of such trust or estate in the case of any corporation other than an S corporation, by such corporation in the case of a corporation that is a member of an affiliated group that files a consolidated return, such election shall be valid and binding only if made by the common parent, as that term is used in section 1 1502-77 a in the case of a controlled foreign corporation, by its controlling United States shareholders under section 1 964-1 c 3 With respect to a corporation other than an S corporation , the election, when made by the common parent, shall be binding on all members of such corporation s affiliated group as defined in section 1504 that file a consolidated return The election shall be binding on any income or loss derived from the partner s share determined under the principles of section 702 a of all contracts described in section 988 c 1 D i or paragraph a 7 i of this section in which the taxpayer holds a direct interest or indirect interest through a partnership or S corporation however, the election shall not apply to any income or loss of a partnership for any taxable year if such partnership made an election under section 988 c 1 E iii V for such year or any preceding year Generally, a copy of the election must be attached to the taxpayer s income tax return for the first year it is effective It is not required to be attached to subsequent returns However, in the case of a partner, a copy of the election must be attached to the taxpayer s income tax return for every year during which the taxpayer is a partner in a partnership that engages in a transaction that is subject to the election.1 988-1 a 7 iv Time for making the election.1 988-1 a 7 iv A In general. Unless the requirements for making a late election described in paragraph a 7 iv B of this section are satisfied, an election under section 988 c 1 D ii and paragraph a 7 ii of this section for any taxable year shall be made on or before the first day of the taxable year or, if later, on or before the first day during such taxable year on which the taxpayer holds a contract described in section 988 c 1 D ii and paragraph a 7 ii of this section The election under section 988 c 1 D ii and paragraph a 7 ii of this section shall apply to contracts entere d into or acquired after October 21, 1988, and held on or after the effective date of the election The election shall be effective as of the beginning of the taxable year and shall be binding with respect to all succeeding taxable years unless revoked with the prior consent of the Commissioner In determining whether to grant revocation of the election, recapture of the tax benefit derived from the election in previous taxable years will be considered.1 988-1 a 7 iv B Late elections. A taxpayer may make an election under section 988 c 1 D ii and paragraph a 7 ii of this section within 30 days after the time prescribed in the first sentence of paragraph a 7 iv A of this section Such a late election shall be effective as of the beginning of the taxable year however, any losses recognized during the taxable year with respect to contracts described in section 988 c 1 D ii or paragraph a 7 ii of this section which were entered into or acquired after October 21, 1988, and held on or before the date on which the late election is mailed or otherwise delivered to the Internal Revenue Service Center shall not be treated as derived from a section 988 transaction A late election must comply with the procedures set forth in paragraph a 7 iii of this section.1 988-1 a 7 v Transition rule. An election made prior to September 21, 1989 which satisfied the requirements of Notice 88-124, 1988-51 I R B 6, shall be deemed to satisfy the requirements of paragraphs a 7 iii and iv of this section.1 988-1 a 7 vi General effective date provision. This paragraph a 7 shall apply with respect to futures contracts and options entered into or acquired after October 21, 1988.Treas Regulations 1 988-3 Character of exchange gain or loss.1 988-3 a In general The character of exchange gain or loss recognized on a section 988 transaction is governed by section 988 and this section Except as otherwise provided in section 988 c 1 E , section 1092, section 1 988-5 and this section, exchange gain or loss reali zed with respect to a section 988 transaction including a section 1256 contract that is also a section 988 transaction shall be characterized as ordinary gain or loss Accordingly, unless a valid election is made under paragraph b of this section, any section providing special rules for capital gain or loss treatment, such as sections 1233, 1234, 1234A, 1236 and 1256 f 3 , shall not apply.1 988-3 b Election to characterize exchange gain or loss on certain identified forward contracts futures contracts and option contracts as capital gain or loss-- 1 988-3 b 1 In general Except as provided in paragraph b 2 of this section, a taxpayer may elect, subject to the requirements of paragraph b 3 of this section, to treat any gain or loss recognized on a contract described in section 1 988- 2 d 1 as capital gain or loss, but only if the contract.1 988-3 b 1 i Is a capital asset in the hands of the taxpayer.1 988-3 b 1 ii Is not part of a straddle within the meaning of section 1092 c without rega rd to subsections c 4 or e and.1 988-3 b 1 iii Is not a regulated futures contract or nonequity option with respect to which an election under section 988 c 1 D ii is in effect If a valid election under this paragraph b is made with respect to a section 1256 contract, section 1256 shall govern the character of any gain or loss recognized on such contract.1 988-3 b 2 Special rule for contracts that become part of a straddle after an election is made If a contract which is the subject of an election under paragraph b 1 of this section becomes part of a straddle within the meaning of section 1092 c without regard to subsections c 4 or e after the date of the election, the election shall be invalid with respect to gains from such contract and the Commissioner, in his sole discretion, may invalidate the election with respect to losses.1 988-3 b 3 Requirements for making the election A taxpayer elects to treat gain or loss on a transaction described in paragraph b 1 of this section as capit al gain or loss by clearly identifying such transaction on its books and records on the date the transaction is entered into No specific language or account is necessary for identifying a transaction referred to in the preceding sentence However, the method of identification must be consistently applied and must clearly identify the pertinent transaction as subject to the section 988 a 1 B election The Commissioner, in his sole discretion, may invalidate any purported election that does not comply with the preceding sentence.1 988-3 b 4 Verification A taxpayer that has made an election under section 1 988-3 b 3 must attach to his income tax return a statement which sets forth the following.1 988-3 b 4 i A description and the date of each election made by the taxpayer during the taxpayer s taxable year.1 988-3 b 4 ii A statement that each election made during the taxable year was made before the close of the date the transaction was entered into.1 988-3 b 4 iii A description of any cont ract for which an election was in effect and the date such contract expired or was otherwise sold or exchanged during the taxable year.1 988-3 b 4 iv A statement that the contract was never part of a straddle as defined in section 1092 and.1 988-3 b 4 v A statement that all transactions subject to the election are included on the statement attached to the taxpayer s income tax return. In addition to any penalty that may otherwise apply, the Commissioner, in his sole discretion, may invalidate any or all elections made during the taxable year under section 1 988-3 b 1 if the taxpayer fails to verify each election as provided in this section 1 988-3 b 4 The preceding sentence shall not apply if the taxpayer s failure to verify each election was due to reasonable cause or bona fide mistake The burden of proof to show reasonable cause or bona fide mistake made in good faith is on the taxpayer.1 988-3 b 5 Independent verification-- 1 988-3 b 5 i Effect of independent verification If the taxp ayer receives independent verification of the election in paragraph b 3 of this section, the taxpayer shall be presumed to have satisfied the requirements of paragraphs b 3 and 4 of this section A contract that is a part of a straddle as defined in section 1092 may not be independently verified and shall be subject to the rules of paragraph b 2 of this section.1 988-3 b 5 ii Requirements for independent verification A taxpayer receives independent verification of the election in paragraph b 3 of this section if.1 988-3 b 5 ii A The taxpayer establishes a separate account s with an unrelated broker s or dealer s through which all transactions to be independently verified pursuant to this paragraph b 5 are conducted and reported.1 988-3 b 5 ii B Only transactions entered into on or after the date the taxpayer establishes such account may be recorded in the account.1 988-3 b 5 ii C Transactions subject to the election of paragraph b 3 of this section are entered into such account on the d ate such transactions are entered into.1 988-3 b 5 ii D The broker or dealer provides the taxpayer a statement detailing the transactions conducted through such account and includes on such statement the following Each transaction identified in this account is subject to the election set forth in section 988 a 1 B. INTERNAL REVENUE SERVICE NATIONAL OFFICE FIELD SERVICE ADVICE MEMORANDUM FOR ASSOCIATE DISTRICT COUNSEL FROM DEBORAH A BUTLER ASSISTANT CHIEF COUNSEL CC DOM FS SUBJECT Section 1256 Contracts and Section 988 Transactions This Field Service Advice responds to your memorandum dated November 23, 1999 Field Service Advice is not binding on Examination or Appeals and is not a final case determination This document is not to be cited as precedent. CONCLUSIONS 1 A may have traded in RFCs as defined in 1256 b 1 and 1256 g 1 Additional factual development is required.2 A foreign currency contract may include a non-regulated foreign currency futures contract and a forward contract in for eign currency traded on the interbank market.3 Foreign currency option contracts are not foreign currency contracts pursuant to 1256 g 2 Transactions in these contracts may qualify as 988 transactions The gains or losses on foreign currency options contracts that are not nonequity options will be characterized as ordinary gains or losses pursuant to 988 c 1 B iii.4 To the extend that A was in the trade or business of engaging in 988 transactions, any losses incurred could affect the taxpayers NOL 5 If C is viewed as an agent of A, its trading activity may be aggregated with A s activity in determining whether he was a trader or investor.6 The taxpayers have properly amended their Tax Court petition in this case to raise the new issues with respect to the carryforward to the Year 3 tax year of NOLs allegedly incurred by the taxpayers in the Year 1 through Year 2 tax years. short n sweet explanation found elsewhere on the web. Forex trades are not reported to the IRS the same as stocks and options, or futures Forex trades are considered by the IRS as simple interest and the gain or loss is reported as other income on Form 1040 line 21 No special schedules or matched trade lists are necessary. short n sweet explanation 2 as suggested by larger hedge funds. Section 988 gain or loss. While we are aware of no specific IRS instructions regarding the proper reporting of Section 988 gain or loss, we recommend that such amounts be reflected on Form 4797, Part II, line 10.National Futures Association NFA is the industry-wide, self-regulatory organization for the U S futures industry. a Rank Based on a total universe of 2,289 U S and international hedge fund managers and CTAs representing US 317 1 billion in assets under management reporting a single Auditor relationship to TASS Research as of 12 31 02 In this ranking, where appropriate the group or parent company name is used. a Rank Based on a total universe of 1,638 U S and international hedge fund managers and CTAs representing US 214 1 billion in assets under management reporting a single Legal Counsel relationship to TASS Research as of 12 31 02 In this ranking, where appropriate the group or parent company name is used. IRS Publication 550.Loss transactions For individuals, a loss transaction is any transaction that results in a deductible loss if the gross amount of the loss is at least 2 million in a single tax year or 4 million in any combination of tax years A loss from a foreign currency transaction under Internal Revenue Code section 988 is a loss transaction if the gross amount of the loss is at least 50,000 in a single tax year whether or not the loss flows through from an S corporation or partnership. IRS Publication 334.Reportable transactions You must file Form 8886 Reportable Transaction Disclosure Statement, to report certain transactions You may have to pay a penalty if you are required to file Form 8886 but do not do so You may also have to pay interest and penalties on any reportable transactio n understatements Reportable transactions include 1 transactions the same as or substantially similar to tax avoidance transactions identified by the IRS, 2 transactions offered to you under conditions of confidentiality for which you paid an advisor a minimum fee, 3 transactions for which you have, or a related party has, contractual protection against disallowance of the tax benefits, 4 transactions that result in losses of at least 2 million in any single tax year 50,000 if from certain foreign currency transactions or 4 million in any combination of tax years, 5 transactions resulting in book-tax differences of more than 10 million on a gross basis, and 6 transactions with asset holding periods of 45 days or less and that result in a tax credit of more than 250,000 For more information, see the Instructions for Form 8886.IRS Schedule C instructions. Reportable Transaction Disclosure Statement Use Form 8886 to disclose information for each reportable transaction in which you particip ated Form 8886 must be filed for each tax year that your federal income tax liability is affected by your participation in the transaction You may have to pay a penalty if you are required to file Form 8886 but do not do so You may also have to pay interest and penalties on any reportable transaction understatements The following are reportable transactions. Any transaction resulting in a loss of at least 2 million in any single tax year or 4 million in any combination of tax years At least 50,000 for a single tax year if the loss arose from a foreign currency transaction defined in section 988 c 1 whether or not the loss flows through from an S corporation or partnership. Any transaction resulting in a book-tax difference of more than 10 million on a gross basis. Investor Reporting You may be required to provide the following information 1 Reportable transaction disclosure statement 2 Tax shelter registration number. Reportable Transaction Disclosure Statement Use Form 8886 to disclose in formation for each reportable transaction in which you participated Generally, you must attach Form 8886 to your return for each year that your tax liability is affected by your participation in the transaction In addition, for the first year Form 8886 is attached to your return, you must send a copy to. Internal Revenue Service LM PFTG OTSA Large Mid-Size Business Division 1111 Constitution Avenue, NW Washington, DC 20224.If you fail to file Form 8886 as required or fail to include any required information on the form, you may have to pay a penalty See Penalty for failure to disclose a reportable transaction later under. Penalties The following discussion briefly describes reportable transactions For more details, see the instructions for Form 8886 Reportable transaction A reportable transaction is any of the following A listed transaction A confidential transaction A transaction with contractual protection Loss transactions Transactions with a significant book-tax difference Transactio ns with a brief asset holding period This category includes transactions that result in your claiming a tax credit including a foreign tax credit of more than 250,000 if the asset giving rise to the credit was held by you for 45 days or less. Listed transaction A listed transaction is a transaction that is the same as or substantially similar to one of the types of transactions that the IRS has determined to be a tax-avoidance transaction These transactions have been identified in notices, regulations, and other published guidance issued by the IRS For a list of existing guidance, see the instructions for Form 8886.Confidential transaction A confidential transaction is one that is offered to you under conditions of confidentiality and for which you have paid an advisor a minimum fee A transaction is offered under conditions of confidentiality if the advisor who is paid the fee places a limit on the disclosure of the tax treatment or tax structure on you and the limit protects the adviso r s tax strategies The transaction is treated as confidential even if the conditions of confidentiality are not legally binding on you. Transaction with contractual protection Generally, a transaction with contractual protection is a transaction in which you or a related party has the right to a full or partial refund of fees if all or part of the intended tax consequences of the transaction are not sustained, or a transaction for which the fees are contingent on your realizing the tax benefits from the transaction. Loss transactions For individuals, a loss transaction is any transaction that results in a deductible loss if the gross amount of the loss is at least 2 million in a single tax year or 4 million in any combination of tax years A loss from a foreign currency transaction under Internal Revenue Code section 988 is a loss transaction if the gross amount of the loss is at least 50,000 in a single tax year, whether or not the loss flows through from an S corporation or partnership Certain losses such as losses from casualties, thefts, and condemnations are excepted from this category and do not have to be reported on Form 8886 see Form 8886 instructions For information on other exceptions, see Revenue Procedure 2003-24 in Internal Revenue Bulletin 2003-11 This Internal Revenue Bulletin is available at. Transactions with a significant book-tax difference This category includes transactions that result in book-tax differences of more than 10 million in any tax year The book-tax difference is the amount by which the amount of any income, gain, expense, or loss item from the transaction for federal income tax purposes differs on a gross basis from the amount of the item for book purposes for any tax year. Notice 2003-81 Tax Shelter.