Income tax 2022-2023, jury duty pay. Let's do some wealth preservation with some tax preparation. Most of this information comes from the Form 1040 Instructions Tax Year 2022 Instructions for Schedule 1, Additional Income Adjustments to Income. You can find on the IRS website, irs.gov, irs.gov. Looking at our income tax formula, we're down on the second line, adjustments to income, remembering that the first half of the formula is basically an income statement where we have income minus the equivalent of the expenses, those being the deductions, getting us down to the equivalent of net income, that being taxable income, everything's topsy-turvy, it's flipped on its head in terms of the objectives because we want the taxable income as low as possible as opposed to normally where we want the net income as high as possible. Remember that this line can be called the adjustments to income. You might call it above the line deductions or Schedule 1 deductions. In other words, you might characterize it as a deduction or basically like a contra income account because it's gonna take the income line minus these adjustments to income to get down to the subtotal of the adjusted gross income or the AGI and important number because that's the number that's usually used when we think about phase outs due to income limitations for deduction. Support accounting instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category, further broken out by course, each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files, and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it, deductions and credits. Also note that there's no hurdle we typically need to clear with the adjustments to income as opposed to the hurdle we need to clear when doing the itemized deductions, that hurdle being the standard deduction. When we're looking at the first page of the form 1040, we're focused on the adjustments to income from schedule one and on schedule one page number two, we're down here on the jury duty pay. Now the jury duty is fairly straightforward because if you go to jury duty, then you might get paid for going to jury duty. In that case, you'd say, well, if I got paid, I might have to include that in income because the IRS basically says that everything is income unless they say that it should be excluded for whatever reason. So if they force you to do jury duty, if you're, you know, you have to do jury duty as your civic duty. So if you did the jury duty and you received money, you would think you would have to include it in income. However, oftentimes your employer then has the situation of are they gonna pay you for the time that you went to jury duty or not? So if the employer's paying for the time that you went to jury duty, they might then say, hey, look, any money that you got for going to jury duty from the court or whatever, we want you to give that to us and then we'll just reimburse like your normal pay. So that means that you didn't really get paid for going to jury duty. You basically got paid your normal salary, which will normally be better than going to jury duty. So that means that you might have to include the money that you received as income because once again, that might be money that got reported to the IRS and you wanna make sure that it's not mixed up that you just didn't report the income. Money, money, money, money, money. Because that could cause problems in a similar way as when you get a 1099, for example, if it's not correct or you think you need to adjust it, if you don't report the amount of the 1099 or greater, then it's likely that you're gonna cause a problem. So in this case, you might have it included in income and then have the jury duty pay as a deduction, which gets us to that net income number that we looked at here, the adjusted gross income. So that's why you can think of it as kind of like a contra income account, but it's a deduction. So now you've included in income the jury duty pay and then you've reduced it back out with the adjustments to income. So there's no net impact from the jury duty pay when you get to the bottom line of the subtotal, not the bottom line, the subtotal of the adjusted gross income. That's the general idea. So jury duty pay, enter your jury duty pay if you gave the pay to your employee or because your employee or paid your salary while you served on a jury.  So we don't want you to get double paid. We're already paying you. So you give us the money. And that means that you didn't really get double income. You just got paid your normal income. But instead of going to work, you went to the jury duty. So other adjustments use line 24 Z to report any adjustments but not reported elsewhere. List the type of amount of the adjustment. So if there's any other kind of adjustments into that category, then that's gonna be in the other adjustments on the schedule one. So next time we'll take a look at just plug in this into the tax software, which might just wrap our heads around this a little bit more clearly.


All right, good. All right guys, we're just waiting for price to actually just get ready. Just give us a minute. There's one Mike. Thank you, Fosto. Hey everybody, this is Price Heathley. I'm so excited to have you with us today and welcome all my big trends community in here as well. Thrilled to have you with us. Fosto is a great friend and a great trader. He's the guy who's been around even longer than I have in the markets and goes all the way back into the start of the 90s when day trading was becoming more popular and then he's taken those methods to adapt to current markets. He's got a lot that he's going to share with you today. He's truly a trading innovator, started Cyber Trading University all the way back in 1995. So it's one of those things we're going to want to stick around and soak up all that he's learned in his many decades of trading over this next hour or so together. Fosto, I'm so glad to have you with us and I can't wait to see your favorite trading tools and how you use them to spot breakouts or breakdowns as the case may be in today's markets. Thank you very much and it's great to see you too again and hopefully get to meet another time. I know it's been a while being on the other side of the world, so other than it was not too far from different states, but that's why I look at it. Absolutely. But thanks for having me and I'm glad I'm happy to come and speak in front of your audience. So everyone, let's just get right into it.   We're at some really major, major support levels on the Dow. For some of you, haven't been looking at it. We're going to talk a little bit about the breakouts and the strategies, but I think this is kind of important because a lot of people have been asking, you know, Fausta, do you see anything out there? What's going on? And I'm just going to bring up the Dow right here. I'm just bringing up an execution system, share it with you. So if you look right here, this is a long-term shot right here, and right around here, this is when this was pre-pandemic before we had COVID. So you could see how the market tank that made us such a big comeback, and now you could see it's making something, it's called lower lows. Now we are at a really major critical support level right now, which is right around 29,400. If we break somewhere around here, you're going to see we could probably go all the way down to 25,000, you know, maybe 26, but really 25 is a major support. And I think a lot of you should be concerned about that, which the good thing is that catastrophes do make opportunities. I know Price, so we would say that to himself. That's why we're here. So I'm going to teach you guys how to get prepared for this, because with these opportunities, there's going to be some unbelievable opportunities. With these catastrophes, there's going to be these great opportunities and you guys got to get prepared for it. But before we get started, just a quick little risk disclosure, let everybody know that, you know, results can vary from student to student. I'm not going to give anyone guarantees and a warranties or anything. This is strictly for educational purposes. All right. Now, let's just dive right into it. What we're going to talk about, we're going to cover some scanning, we're going to cover some, you know, how to follow the big money orders. We're also going to talk about developing a trading plan. So there's a couple of things that you have to understand about scanning stocks. You got to know why these things are going up, why they're going down, how to find them. You need to know who's buying them, following the iceberg orders, following the algorithms, all that stuff. And then last but not least, you got to learn how to lose money properly. You're going to lose in trading. It's part of the job. You know, the whole idea is controlling those losses and don't worry about the winners. So we're going to really cover a lot. We're going to pack it in over, you know, over the next, like I said, next less hour.  I've done speaking at Fordham University, MIT. I've trained engineers, tens of thousands of people out there are my students. I've spoken from hundreds of thousands. But the thing is, if you look at these people, they're just like you. All right. That's the big thing you have to understand. I'm a veteran. I live here in New York. I was trained by some of the best traders on Wall Street. You just got to know how to play the game. And that's really that it comes down to it. Now, I've also been featured on regularly. I'm actually going to be on next week. I'll be on NASDAQ. I specifically talk about how to use their platform, how to trade on level three, which is their NASDAQ book viewer. I'm going to talk about that. You can watch all these videos on our website, or you can go on YouTube and so on. Now, I did come out with a book and I'm not here to sell you the book or talk about the book. But the big thing is, everybody wants to read a book, but you've got to learn what the game is being played. The problem with books is they don't talk back to you. But by being here, hopefully I'll be able to answer those questions in great detail. Now, how I got started, I want you to understand something really quick that I am no different than you. I am a human. I make mistakes, but I've learned from those mistakes. And I learned from some of the best traders in the industry. I am actually one of the first day traders that started back in the early 90s. When I started it was about, I don't know, probably 1,000 of us. Now there's about several million. But nothing really has changed other than the ticket charge has got cheaper and technology got better. One thing I love about this photograph is the monitor on it. Could you imagine? I mean, we actually traded on a monitor like this, a 15-inch monitor, and we made money back then. Today you have people who still can't make money on that. Now, how I got into the industry, my parents are immigrants from Italy. First generation Italian, my dad said, listen, this is the country of opportunity. If you want to be successful, you have to learn how to trade. If you like to learn how to trade, you want to do it. You got to learn about, you got to learn and get involved with people that know what they're doing. Learn from their mistakes so you could not make those mistakes. Now, and that's really the big thing you have to look at when it comes to trading. My mic is off. No, my mic is on. It looks like some people probably can't hear. There you go. All right.  And I want you to meet these people in our trading room. So at the end of this presentation, I'm going to invite every single one of you to watch and see what exactly what I'm preaching about today and see if it really works in the real market conditions. So let's go out there and begin and get started. Now, are you a person that's afraid to buy at certain markets like this one, you see what happened with the S&P getting crushed?   I mean, would you be afraid to trade this stock in one day? It goes from $4 to $14? I don't think so. Or how about AERC yesterday? This thing ran from $15 to $23. You know, how about RDBX? That stock ran from 10 to 14.  SIDU, another one stock went from $2 to $4. This is just in one day. Now, that stock right there that I just brought up, that stock continued into today and it ran from the $1.20 to the $4 all the way up to almost $10 a share. That's why we do this business. That's why we love it. But the thing is, how do you know if they'll continue to go up? How do you find them? Well, finding them is not really that hard. You know, there's no crystal ball out there and everybody wants to know where you find these stocks.  That's it. The thing is, you have to know which one is going to give you the least amount of risk with the high amount of reward. So what we do is we'll go out there and we'll do some trades and we'll find stuff out. But before we do that, I want everybody to answer this question really quick. What makes a stock go up? Is it market makers, support and resistance? Let's say I'm going to have a little quiz right here.   What do you guys think? Is it all of the above? Is it volume? If you don't know the answer, just give me a question mark. Okay, we got a few Ds that are coming out. Bs, got somebody picked out a D. Anyone else? Wow, some people are shy and embarrassed. Don't worry about it. Nobody's going to make fun of you, but if you said D, you are exactly right. It's volume and big orders from buyers and sellers. There you go, Mario. Well said. Now, there are four ways to find these big orders. Level 1, level 2, level 3, and level 4. Now, the problem with level 1 and level 2 is pretty much outdated. You're not really seeing all the orders. You're not really seeing who's buying it, who's selling it. If you were back in the 90s, it was pretty cool because it was real-time. Back in the old days, you had to call your broker, but now it's pretty easy to find out who it is. The thing is this. Does anybody here have level 3 or NASDAQ TotalView? Anybody here have this? Because level 3 is what's going to teach you how to follow these things the way they go up and down the way they do. Now, there's something called NASDAQ Book Viewer. This is not the Fausto software. This is not someone else's software. This is the actual exchange itself. What this does, it helps us find big block iceberg orders. Now, how do we define an iceberg order?  You have to remember what makes stocks go up and go down, buyers and sellers. If you don't know where those buyers are and you don't know those sellers are, support and resistance levels are irrelevant. If you can't see those buyers and sellers, you're not going to have those support and resistance levels. Let's look at an example right here. Here you have a stock and it started right around $25. You could see over the course of the hours, right around $10.30. For some reason, it found a support level right around that $22.90 and it went up. Why $22.90? Why not, I don't know, $23.00? Why not go down to $21.00? Why did it pick that number? Well, the only reason explanation for that is that if you look here, all the buyers and here are the sellers and buyers make support. If you work your way down, you will see there's a 45,000 share buyer sitting at $22.85.  Buyers and sellers.  You made a really nice pretty penny. 1,000 shares, let's say you made a quick buck, $1,000, a quarter million salary. Yeah, I'll take that. Why not? Let's look at the seller side. Here are the stock that went from $14.00, went all the way up to resistance right around $15.40 and came right back down to its $14.50. Why did it stop right there? Well, look over here on the right. Here are your buyers, here are your sellers. Sellers is resistance. Where is that resistance? Oh, right around here with that 90,000 share buyer out there, because let me tell you something, 200 shares does not scare me than more than 1,000, but that 93,000, which is probably about 100 times more the average than everyone else.   All right, let's go over a couple of examples. All right, so let's look at, I don't know, we'll look in that square. Okay, it's falling. Now, for a stock to go down, we need to know where the buyers are. Chart doesn't tell you that. What do we do? We follow the orders. Let's go hop over here on the Nasdaq exchange, and you'll notice that there is a 77,000 share buyer at $0.79. I don't know. I bet that's probably a good way to look that that is going to be your support level, and sure enough, when we go to the chart, what does it do? It goes right to that 79, it goes right up to 82 in a matter of, I don't know, 30 minutes, maybe a little bit more. Wouldn't you like to make that much money in that short period of time? Well, it's all about following the money. United Airlines, stock's going up nice and steady. Question everyone always asks, when do I sell? Well, majority of people sell when the stock is going down, but wouldn't you like to sell before it starts going down? That's like driving against traffic. Well, once again, chart doesn't tell you that, but when you go here on level four, level three, boom, 109,000 share seller at $46. I don't know. What do you think it's going to do when it gets there? Sure enough, hit that number and came right back down to $44.60. Do you want to be that trader?   Every time I sell it, it goes up, and you feel like somebody's watching you, but the thing is, nobody's watching you. You're just not watching them. That's how the game is being played. But then there comes this time when people always ask, oh, you're like, I was out of, I did a, I was at one of these expos, I did a speaking, and one person goes, oh yeah, I heard about these fake orders. Oh, I know about those fake orders too. Let's dive into level four and show you how fake they are, which by the way, does anybody here have level four quotes? Anybody here at level four? You mean most of you are stuck on level one. Think about how much smarter and better trading decisions you would make if you knew where the buyers are and where the sellers are. So level four, what it does, it basically is a heat map, and it kind of shows you how long the guy's been out there and if he's getting executed, and it's aggregating other exchanges, like the New York Stock Exchange, the Philadelphia Exchange, it's aggregating them all in there. Now let's go look at our DBX. Do you notice this big red line here? That red line is a 59,000 share seller. Now, that's a lot. That's a lot. And you know what? In theory, you would say, oh, a lot of sellers are going to go down, but look what happened. It hit that resistance levels, and it shot all the way up in a matter of 30 minutes to the price, almost $14 a share. Now why would it do that? Well, if you notice, the guy's not there anymore, and that's what caused the stock to go higher. Let's look at VERU. This is called the ladder effect. Look at this big seller out there. This seller, load is priced here, load is priced here, load is priced here. He's been doing this since the pre-market, and he's still doing it.  And as the time goes on, it keeps going lower, and that guy just keeps showing up his bid over and over and over again. And over again, there was another one. Stock went all the way down to $10.50. Ever happened to you through a trade? You're like, damn, why did I sell it sooner? Well, did you see someone was trying to dump it? You know, it's all about following the money, fellow traders. Listen, too afraid, too greedy, too analytical. It's all about the KISS method. You got to learn how to keep it simple. That's what trading is about. If you don't get so complicated, and what you're doing is really not working, then it's time you have to move on and do something else. But you know you don't want to leave this industry because you see the value of the industry. And that's what makes it so much more fun and profitable. Now, everyone who was always out there, well, let me try it. Let me see how it goes. Let me tell you, you cannot be self-taught when you're risking hard-earned money. You need someone behind you that's going to tell you what what you did wrong, show you, veterans, and also surround yourself with people that are doing the same exact thing as you're doing. And that's what we built over here at Cybertree University. So just with a couple of things, you have to understand that there are some good platforms out there. But unless someone is going to handhold you and show you exactly what that thing does, you're pretty much trading blind. So if you want to make smarter trading decisions, you can make it if you can see the data. And it's all about the data. You have to learn before you could earn. Now, once again, like I said earlier, what drives things up and down? Buyers and sellers. Wouldn't it be nice if you were able to see all those big block buyers and on the buy side and on the sell side? That's all you realistically need to do. So how can we learn more doing this? Simple. I would like to invite every one of you to come into my trading room. And I want to show you live in the market how this system works. I'm not going to get complicated. We're not going to upsell you or anything like that. All we want you to do is come in a room and watch the students and see how they think together, talk together, and how they make money together. Our first audio broadcast starts about 9 a.m. Eastern. And we usually just done by 1030. So we only do about an hour and a half. And then we come back in the afternoon. We'll do our YouTube meeting at 2.30. You should have done by, I don't know, 2.45. And then we'll pick up about three live commentary until then. And I can't forget, oh, Traders Talk on Tuesday. So this is where we actually take one of our traders that we've trained and review their journals with you in our trading room so everyone could go out there and learn. These are just a bunch of amazing stuff that we offer here at CTO. There's so much more that I want to show you. But because I'm short for time, you know what? There's only so much you could show on a PowerPoint. But when you see this live and you see how these brokerage firms or these institutions or these algorithms, how they keep buying it and then selling it, buying and selling it. Listen, you deal with the smartest people in the world. You're not going to beat them. But you know what you can do? You could join them. Now, if you cannot be around those times, the good thing is you can have access on your phone. You have the alerts. You know, it's just a great tool. We just implemented it. So if we see something, I almost guarantee you we're going to say something. Now, all we're asking for is this, $9. That's all I'm asking for. It's a $9 trial and it's money back guaranteed. We're not going to tell you to buy something more later on. All we're asking is the $9 is to let us know if you're a real person or not. That's it. And I feel like, listen, there's some people in this room that we're not even chatting. So I could assume that maybe you're not interested. Maybe I'll entertain you. So we take this very seriously. When you do a trial, you're going to talk to one of our education advisors. You're going to do a walkthrough. You're going to be watching some videos.  But that's all we're really looking for. As you tell us the real person, click on that link and I'll show you how to read level 2, level 3, level 4, how to find these stocks, how to do breakouts, all that good stuff. Now here are a couple of questions I got that I wanted to share. And so people are asking me, how much money do I need?  That's it. That's all you need. Don't worry about a broker's account. Don't worry about this. Don't worry about that. That's all you need right now. You have to learn before you could earn. Do you need a broker's account? No, just like I said earlier, what are you doing? You're not going to trade. You're only there to kind of watch and see if this is something you want to make an investment in. Where do I get level 3 and level 4? It was a popular question I got. I was telling everybody, you're just going to have to pay $9 and learn from there. Because if I tell you where to go and you get it, you'll actually do more harm than good. And believe me, that doesn't sit with me very well. A lot of also people always ask me, what makes us different than other gurus? Well, the reason for that is I'm actually a market maker. If you want to learn how to trade the stocks, this is how you have to do it. If you want to learn something else, it's good to learn a little bit from everybody. But to be successful at it, you got to learn a little bit from everyone. Another popular question came up, does this work for options, futures, and crypto? It does work for options, futures, and crypto. Yes. It doesn't work for Forex. Now, these are just here a couple of things our students are saying about CTU. I know some of you do your homework. I got a five-star rating on Google. I got an A plus rank, the Better Business Bureau. I'm pretty much endorsed by every broker firm in the industry, but that doesn't make you money. You need to know if CTU is the right fit for you. And the only way you're going to know it is dish out that nine bucks. Talk to one of my education advisors. I'll book a point with you. You walk in the room and go from there. Yeah, there's the link up on the chat if you want to be able to click on it. So this is what you're going to get for $9. You're going to get live commentary from Monday to Friday, first hour and last hour, your own watch list, a Q&A workshop, three pro workshops, Traders Talk Library. So if you like what you saw on Tuesday, you can look at some of the other ones for the following week. And for the first 20 people to register right now, I'll just give you a coaching class. Listen, I don't have a problem talking to anybody.  But take the $9, click on the link, book your appointment, get in the trading room, and let's grab this bull by the horns because what's happening in the market right now, you should be really, really nervous.  You know what? What happens is stock that you own at 50 is now 50 cents. You don't think that could happen? What could happen to financial crisis? So $9, that's all it takes, all this money back guaranteed and be able to go out there and trade together. Now, does anyone have any questions or anything that you might want to ask? When you could start, it would be a good way of starting right away. I don't like to procrastinate. I mean, you go into a big holiday, so try to get a hold of the education advisor so you could probably start on Tuesday because the market's closed on Monday. You could do that. Absolutely. All right. So any other questions? Well, if you don't have any questions, fellow traders, just click on that link. I'll see you all in the trading room. Make sure you talk to the education advisor. Make sure he does the walkthrough. Kind of show you what we have. And then I'll see you all in class. All right. Thanks for listening, everybody. Thanks very much, Price. And we'll see you. We'll see you then.