Prop Firm Tax ?

Discussion in 'Prop Firms' started by Sky123987, Mar 4, 2008.

  1. Hi,

    I understand that if you trade under a prop firm you claim I think an S1.

    1) Do you have to pay the self employment tax?
    2) How much are you allowed to put into a 401K?
    3) Can you write everything off?
    4) If you trade from both a retail account and a prop firm, can you file EVERYTHING under the S1, so you don't have to pay the self employment tax for the winnings on the retail account?