What about taxes and charging fees? If its an individual account and unless you have an EIN, you're going to be paying the taxes... Best thing to do is start an LP in Delaware and get an EIN for the LP. You're the General Partner, or you can create a management Co. to be the general partner. At the end of year file a 1065 and thats it. Numerous tax advantages in this case as all profit/loss is pass-thru. Costs about 300-400 to set this up.