Anderson isn't trustworthy and are unethical . They use high pressure selling to get you to sign you up for a more expensive package that you do not need.
Basic securities on Nasdaq. Will I save a lot doing this if I have 300k profit in a personal account before the LLC was created? Is this correct, I can not retroactively apply deductions to a personal account since a LLC has a separate tax eid so the income are in two separate buckets? And how much deductions would trader status save me if I do not have many expenses? I only have a home office but no software, margin, or seminar fees Thanks!
TTS doesn't require an entity. And as one doesn't "elect" TTS, if one qualifies, then all trades during the appropriate time period (for you, likely the entire year (assuming no breaks in activity)). Re-read the article another poster linked to. And spend the $50 for Green's downloadable book. Then tell us what you learn.
After reading books (like TooEffingOld just said) and checking few websites, one of the best move would be to hire an accountant (check this forum) with a proper understanding of your situation, and what is a "security business trader", MTM, Trader tax status, for accounting and tax purposes.
Unfort, every single "trader specialist" accountant I have used (too many to mention) has been somewhere between useless and dangerous when it comes to advice.