Skip to content

Tax Tips for Traders: Plus! How to Set Up Your Trading Business the Right Way with Tommy Thornburgh

The Word on Investing
The Word on Investing
Tax Tips for Traders: Plus! How to Set Up Your Trading Business the Right Way with Tommy Thornburgh
Loading
/

Your stock trading business is thriving. What now?

“Now raise your right hand, and repeat after me: ‘I solemnly swear not to do my own taxes, and I probably won’t mow my grass anymore.'” – David Mitchell

Today we’re going to have FUN talking taxes.

No, we are not messing with you!

In this episode, Tommy Thornburgh & David Mitchell will cover…

  • Why you do NOT need to be doing your own taxes, especially if you’re a trader

  • How doing your taxes relates to mowing your lawn, and how this can make you more like Warren Buffet 😉

  • Business credit and why it’s important

  • Why you want to protect yourself from lawsuits (even if you think ‘that could never happen to me’)

“It’s not a matter of cheating the system. We want to do things by the book. But if that book is 72,000+ pages, that gives us a lot of area to be able to find deductions that ultimately keep money in the entrepreneur’s pocket.” -Tommy Thornburgh, President of Prime Corporate Services

Loving the podcast? Be sure to subscribe! Want to go the extra mile? Rate and review it to help spread this content to like-minded Christians around the world!

Want a FREE ticket to our Virtual Word on Investing Summit?

Get access to the 3-day value packed summit (April 22nd-24th, 2021) with speakers like…

  • Tommy Thornburgh (Prime Corporate Services)

  • Tom Sosnoff (tastytrade)

  • Sharon Lechter (Rich Dad, Poor Dad)

  • David Mitchell (TRADEway)

  • Dr. Myron Golden (Best-selling author/business coach)

  • Joe Johnson (Oxlos)

And many more!

Get your FREE ticket the virtual summit at tradeway.com!

Get In touch

Latest Podcasts

The Truth About Wealth Most Christians Were Never Taught (TRADEway Vision 2026)

Season 7 Premiere — The Word on Investing Podcast What if many Christians were never taught the full biblical picture of wealth? In this powerful

Investing in Gold Bars vs. Gold Coins – How to Choose

Today we’re going to be talking about some things to consider before you buy gold or bars. We’re going to cover differences in price, liquidity

3 Things I Quit Doing to Make More $$ Trading

If you’re losing money trading, it’s probably because of one of these three things you need to quit doing. Many traders are addicted to more–more