I recently talked with an accountant and a lawyer about my taxes and was told I should be using an LLC to trade. First off, I trade full time as a career (my only job) and I only trade futures contracts, about 2000 rt's a year, I also currently trade from my home, and am going to purchase new equipment in the near future. Below are the reasons I was given as to why it is advantageous, I would like to know if those of you who are career traders formed an LLC, a Corporation, or a cross between the two, and if it as helpful as stated below. 1. The IRS is less likely to audit if you trade from a formal entity. 2. Deductions (home office, utilities, Cable, computer, monitors, TV used to view Bloomberg in office). 3. When you pay yourself with an LLC you pay no taxes on payroll. 4. Asset protection 5. Flow through tax structure. 6. Carryover of previous years loss 7. Education, travel, anything related to business can be deducted up to a point. Any help is greatly appreciated by anyone who has done this, any businesses in the NYC area that help traders with this that you know of please share.