Maximize Your Trades & Minimize Your Taxes
Active day trading creates thousands of taxable events across multiple brokerages, asset classes, and tax jurisdictions. We handle the bookkeeping, planning, and reporting all year long so you can focus on the next trade — not on filing season.
Tax accounting challenges you might be facing as a day trader.
Day trading creates a paper trail that generic accountants either ignore or hand back to you to figure out. We handle every fill, every adjustment, every quarter.
- ×Business vs. capital income — frequency, intent, and holding period determine whether the CRA or IRS treats your trading as a business.
- ×Wash sale & superficial loss rules — disallowed losses across accounts, spouses, and brokerages add up fast if no one is watching.
- ×Multi-broker reconciliation across Interactive Brokers, Questrade, TD, Schwab, and prop firm statements rarely matches the 1099 or T5008.
- ×Missed elections & deductions — Section 475(f) mark-to-market, home office, data fees, and platform costs go unclaimed.
Clean books. Verified P&L. Zero scramble at year-end.
How we will help you overcome your tax & accounting challenges.
Real specialists, not generalists pretending. Every engagement is led by a Tax Partner who actively trades and understands the markets.
- ✓Day trading experts — a dedicated bench that lives and breathes active trading every day.
- ✓Trade-trained AI — purpose-built tooling that reconciles tens of thousands of fills in minutes.
- ✓Holistic solutions — bookkeeping, tax planning, filing, and audit defense under one roof.
- ✓Cross-border advisory — coverage on both sides of the Canada / US border without farming you out.
How we compare with other firms.
Most accountants see a few hundred trades a year. Our clients put up tens of thousands. We built our process around that reality.
A specialized day-trader firm where every advisor actively trades and reports their own activity.
- ✓Trader-native team across Canada and the US
- ✓Equities, options, futures, forex, and crypto coverage
- ✓Year-round planning, not just April scramble
- ✓Wash sale & loss harvesting reviewed every month
Generalist accountants treating active trading like a once-a-year cleanup, often outsourcing the parts that actually matter.
- ×Limited or no day-trading-specific knowledge
- ×Reconciliation handed back to the client
- ×Reactive, filing-season-only engagement
- ×No proactive tax planning strategy
Traders we work with.
From equities scalpers to options sellers to futures funded traders, we know how each asset class gets taxed and how to keep more of your P&L.
Stock Traders
High-frequency equity activity reconciled across every brokerage, with the right business-income or capital-gains treatment applied.
Crypto Traders
Spot, perps, and margin activity across centralized and decentralized exchanges reconciled with the right cost basis method.
Commodity Traders
Spot, ETF, and futures-based commodity exposure mapped to the correct character of income and audit-ready every quarter.
Options Traders
Premium, assignment, exercise, and complex spreads handled correctly — including Section 1256 60/40 treatment where it applies.
Forex Traders
Section 988 vs. 1256 elections, spot vs. forwards, and prop firm payouts handled with the right tax treatment from day one.
Futures Traders
Funded accounts, prop firm payouts, and mark-to-market reporting handled with the right entity structure and elections.
Our step-by-step process.
A clean, repeatable onboarding so we can get to the savings work as fast as possible.
Free consultation
We learn your trading style, brokerages, asset classes, and goals — no commitment.
Onboarding
Read-only broker access and statement uploads are imported into our reconciliation stack.
Tax strategy
We build a year-round plan covering trader status, elections, wash sales, and cross-border exposure.
Ongoing partnership
Quarterly check-ins, audit-ready books, and a Tax Partner you can text.
"Day trading is already complex enough — let us take care of the tax accounting challenges for you."
Why choose MyBookly as your day trading accountant?
A combined 20+ years across Canadian tax, US tax, cross-border strategy, and active-trader accounting all working on the same file as you.
- ✓Trusted by serious day traders with accounts from six to eight figures.
- ✓Tax Partner-led engagements — you're never handed off to a junior.
- ✓Software-agnostic — we plug into TradeLog, TraderSync, QuickBooks, Xero, or our own stack.
Owns reconciliation, cost basis, and trade reporting across every engagement.
Leads strategy, cross-border planning, and Tax Partner-level oversight.
In-house counsel for entity setup, regulatory questions, and audit defense.
Questions you may have about our day trading accounting services.
When does day trading become business income vs. capital gains?
The CRA and IRS both look at frequency, intent, holding period, and time committed. Most full-time day traders end up reporting as business income — which changes deductions, loss treatment, and entity strategy. We make the call with you and document it.
How do wash sales and superficial loss rules affect me?
Both the US wash sale rule and the Canadian superficial loss rule can disallow losses across brokerages, accounts, and even your spouse's account. We track them across every account so disallowed losses get added to cost basis instead of being lost entirely.
Can you handle prop firm and funded account payouts?
Yes. Funded account payouts, profit splits, and challenge fees all have specific tax treatment depending on the structure. We classify them correctly and pair the right entity setup with the right elections.
Can you defend a CRA or IRS audit?
Yes. Every engagement produces an audit-ready record with reconciled broker data, cost basis rationale, and trade-by-trade backup. Our in-house lawyer leads defense if needed.
What does it cost to work with you?
Pricing depends on trade volume, asset classes, and brokerage count. Most clients land between a flat annual fee for filing-only and a monthly retainer for ongoing strategy. We'll quote during the strategy call.
Thanks a lot of complexity around day trading when it comes to record-keeping and tax. We'll help with this.
Book a free strategy call and see how much you could save on your next filing.
Free • No commitment • 30 minutes