I am wanting to look into trading from a Corp or LLC (or whatever) to get the tax advantages of more deductables rather than trading as an individual. (I already have a Subchapter S corp for part time work now.) Where is the best place to get info on the pros/cons and how best to approach this? Maybe someone has written a book on this? I appreciate your comments! Bruce
Bruce, Greentradertax guy has a wealth of information on this site and on their own site. Take a look at : http://www.greencompany.com nitro
Check out GTT http://www.greencompany.com/ Some good info there even if you don't retain them, also look into the LLC/mini 401k plan, lets you deduct quite alot for a retirement plan.
Active Trader Magazine has featured Green Trader as well. http://www.greencompany.com/EducationCenter/InTheMediaActiveTrader.shtml I highly recommend reading their articles beforehand.
some discussions at http://www.elitetrader.com/vb/showthread.php?s=&threadid=11314 http://www.elitetrader.com/vb/showthread.php?s=&threadid=4629 http://www.elitetrader.com/vb/showthread.php?s=&threadid=2792
You can deduct all your expenses on a Schedule C if you qualify for trader status. You don't need to form a separate entity.
Would a prop firm work with you... or let you work if I make a LLC and do business through the LLC with the prop? Legally viable? Specifically, a question for God Bright... I mean Don Bright... "In Don We Trust"