Hi Jay...Iwas simply referring to the S7 member status of trading where we exempt our traders from Self Employment fax vs. the retail sector's futures treatments. As you know, we have been members of the CME since the 1980's, and Bob and I trade futures. I hope all is going well with you!! Happy Holidays... Don
Don, I'm fairly new to the forum but really appreciate your input on the threads I read. I see you inferred that equities might be better at this time than futures and was wondering if you can expand on that. Margin is not a problem (or not unless I keep losing money) so the $25,000 daytrading rule doesn't worry me. If I didn't live in Japan I'd be taking one of your courses. Interesting article too. Robert
The "same income" isn't an assumption. Both positions offer the same...28k draw. So I'm not sure where you are coming from but feel free to expand. I only said lets assume that to avoid this whole conversation and focus on the point...Pros and Cons of equities vs. futures.
Quote from Don Bright: ...I was simply referring to the S7 member status of trading where we exempt our traders from Self Employment fax [sic] vs. the retail sector's futures treatments... The exemption of SE tax is by virtue of operating a "trading business" - something that is available for those of us that trade retail, and is not related to holding an S7. I've been reporting my insignificant futures P/L as ST cap gain instead of the 60/40 "investment" treatment, but I'm not sure if it is correct to do so. Anyone have a professional opinion?