daytraitor
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I am an American living in Tokyo just getting into daytrading. Japanese tax law is very lenient on independent businesses, and I can't help but think how fantastic it would be to have my daytrading business filed here, ideally avoiding wash-sale taxes.
I also have a feeling I cannot be the first person to come up with this. Does anyone have experience with how this kind of tax structure would work? For a business essentially done in any country, at any time, what do I need to do to keep out of trouble with US taxes? Is Japanese residency enough? Or is the location of my brokerage account more important? Or the source of my funds?
Will any sites inteface with my Japanese bank account? If I transfer the funds to an American-based site am I screwed? Can Switzerland help?
Any insight much appreciated.
I also have a feeling I cannot be the first person to come up with this. Does anyone have experience with how this kind of tax structure would work? For a business essentially done in any country, at any time, what do I need to do to keep out of trouble with US taxes? Is Japanese residency enough? Or is the location of my brokerage account more important? Or the source of my funds?
Will any sites inteface with my Japanese bank account? If I transfer the funds to an American-based site am I screwed? Can Switzerland help?
Any insight much appreciated.