Here's my Forbes blog post today. http://www.forbes.com/sites/greatsp...tates-tax-treatment-for-professional-traders/
Wondering if there is a way to take advantage of the R&D tax credit for my LLC if I am building my own software. I started off building an automated system to help with my trading...if I pull parts of that system out and place them for sale on the iTunes store can I be considered for both trader status and as a software development business? My idea for the "for sale" software is legitimate and I have been accepted into a business incubator based the idea. If the software development business only realizes a small return what types of things could I utilize with the credit? Also...as a small LLC would the credit flow through to my income from my "day" job? I.e. if the credit was $5K but the LLC did not generate that much would the $5K affect my overall non-LLC taxes? Sorry if this is something that is more of a consult type of question...