Hello Everyone, A friend of mine wants to give me X amount of money to trade with. Does anyone know how I can open an account, in my name only, (not a joint account, llc, llp, or a corp), and give him his percentage of the profits, without me paying taxes on his portion. I would pay taxes on my percentage, not his. When I receive my year end statement from the firm, it will say I made X amount of $, I would give my friend a percentage of X, I do not want be taxed on his percentage of profits. I would want to pay him with pretax dollars. I would like the account to be in my name, as an individual. I am looking for a hassle free way to do this. I do not want to have any problems with the IRS. If anyone knows of a legitimate way for me to do this, I would appreciate it.