Fellow Traders What are the tax implications for buying or leasing a CBOT IDEM seat? I read on a old thread @FICA tax if you buy a seat. It would be great to hear from members who own/lease a seat. What are the 'other fees' or 'hassles' that come with buying or leasing a seat. I am paying IB @1000/month in commissions right now and would like to save few bucks.
i don't lease/own a seat but AFAIK you will be subject to FICA taxes. a quick GOOG search turned up the following link. scroll down to the bottom of the page for the source. if you want additional confirm just call them and ask. http://www.tedtesser.com/faqs.html