One of the best deals around is within your grasp to take. By opening an IRA account, you can take advantage of tax deferred growth in your savings and investments. These days, most discount brokers offer customers the ability to open retirement accounts, along with support and advice on investing for their golden years.
You can establish a traditional, Roth or rollover IRA through this brokerage and get access to a wide variety of investment products on a top-notch investment platform, while taking advantage of some tax benefits for your long term savings.
A TradeKing IRA is a great option for housing your retirement funds. Here are some good reasons why you may want to consider TradeKing as your broker of choice:
- They’ve won a slew of top awards including #1 Discount Broker (SmartMoney, WSJ Magazine) for two years straight and garnered 4 stars in the 2010 Barron’s Online Broker Survey.
- They offer a variety of retirement accounts: Rollover IRA, Roth IRA or Traditional IRA.
- There are no fees to open or maintain your TradeKing IRA account.
- Commissions and transaction fees on stock trades are a low $4.95 per trade, plus $0.65 per option contract. This is the case for both IRAs and regular accounts.
- You can apply common option strategies to your trades in your IRA account, which is not always permissible at other brokerages.
- They have top customer service ratings as recognized by SmartMoney and other financial journals.
- They have a strong array of trading tools and resources, and a lively online investment community known as the Trader Network.
- They have strong support for options traders, who can avail of their Options Playbook and “All-Star” webinar series.
- You can get your transfer fees reimbursed up to $150 if you use this link.
I’ve also discussed this brokerage in great detail in my TradeKing review, which you may want to check out for more comprehensive coverage.
For more helpful materials for the tax season, you can also take a look at the following great free tax resources for traders. Whether you’re a day trader, active trader or a long term investor, you may benefit from these latest special offers, which are only available for a limited time and may expire by April 15.
Check these TradeKing tax resources to help you navigate the tax season with ease.
Day Trading & Taxes: TradeKing Provides Free Tax Resources For Traders
1. Get TradeKing’s FREE Intelligence Report on Taxes & Trading.
You can download TradeKing’s free tax report on trading. All it takes is an email address to which TradeKing can send you their report. I’ve actually reviewed this and found it to be extremely helpful in letting me know what kind of issues I need to focus on, as an investor and trader.
Here are great tips you’ll pick up from the Intelligence Report:
#1 Know your tax terminology.
#2 Use TradeKing’s Maxit Tax Manager Tool to organize your investment positions.
#3 Watch out for wash sales.
#4 Do you have a trading business? Find out the ramifications of establishing your trading activities as part of a business.
#5 Keep building and growing your retirement funds.
#6 Correspond with your tax advisor early and often.
2. Use TradeKing’s tax tool to help you manage your taxes.
If you are a TradeKing customer, you’ll have access to a great tool called Maxit Tax Manager, that enables you to assess your investment positions in order to help you better manage your capital gains and losses much more effectively. This tool supports cost basis calculations and tax reporting, points out any wash sales, identifies areas of tax relief and provides analysis of potential long and short-term gain and loss opportunities, among other things. It’s a pretty handy tool that helps organize your tax information and data as it pertains to your trading and investing activities.
If you’re looking for a highly reputable online broker, then consider TradeKing, where you’ll get access to valuable investment resources and educational materials, webinars, videos, tutorials and tools. The Maxit Tax Manager is just one example of a helpful feature that TradeKing has built in. It’s available for use for all TradeKing customers.
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