hey traders..should i form a company before i start trading? can you guys give me some options and details on how to start please..if i do make it in the black i dont want uncle sam to take most of it ...thanks in advance...
Seriously, dude, since you doubt your "abilities" and appear to be concerned with accounting-related trivialities, you shouldn't get involved with trading at all.
Wow talk about a chip on your shoulder . Is it just me or there is a negative vibe on this forum? I guess losing does that to you
It is not necessary. Your "company" would still be a sole proprietership anyway. Much more important is having an accountant that understands IRS "trader status" - how to establish it and how to keep it and not get you audited over it. If you have trader status, you can still write off everything even remotely related to your trading even as a non-entity. go to www.edaytradertax.com to check it out
fwit Sir Check into an LLC.... If intrested leagalzoom.com can set you up pretty cheap if you find it suites you I trade under my LLC, the LLC is controled by my Corp (i'm the janitor, trader, and coo) Convoluted but effective once you start making money
See that was all I ask. It was a simple question. Thanks for the heads up slapshot. You separate winners and. Losers by what comes out of their mouths