Thanks for your replies Robert. For the family partnership you just wrote about, can such a entity work for non-family partners as well? Can I have friends in the partnership as well, and would they have the same tax benefits? -- ITZ
Robert, Could I get your thoughts on another tax question about IRA and denial of tax deferral benefits? Please see the thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=19331 Thanks. -- ITZ
Run, run, run....don't walk from this type of relationship. I've had to literally fire a couple of wives (of mine) when working together.....and you can imagine how well that worked in the rest of our lives. This is, in all likelehood, a "lose-lose" arrangement. (a bit "tongue in cheek"....but, then, think about it!) Don
Understood.....if they're going to do it anyway, they may as well understand and appreciate the tax benefits....as in all trading ventures, the "successful minority" will rise to the top. "I'll work on the trading, you work on the taxes".... Don
this is starting to sound a little like the olde "charles givens tax tricks" where he would have you employ your children , wife, et al for tax benefits. a little too close to line for my tastes. best, surfer