hey dude.. my quesion is not whether what advantages you have but what advantages you have that you dont get via the trader status. You have answered why you did not choose that way; thats fair.. but your "cant you read" just confirms that you obviously cant. Hmm.. so if you are a full time trader and living off of trading presumably; you still think filing for a trader tax status is risky. ok. i have been filing as a trader for the last couple of years and getting all the deductions etc without having to manage an LLC entity. Have been looking for an llc structure for quite a while now; maybe i will jump ship someday. thanks! -gariki
Check out the CPA at http://www.traderstatus.com who provides great information on trading through entities, tax consequences of using this method or losing the 60/40% split for futures/commodity trading, et cetera. Also, look into a Family Limited Partnership (FLP) which can be better than an LLC. You can get into tax trouble by choosing the wrong setup for YOUR situation. Good Trading! -oBiTz