does anyone know of a web site where I can find information about getting set up as a company? I hear there are legal ways of keeping more of your profits away from uncle sam if you set your trading account as a LLC or Corp. And if you live in a less tax friendly state like California you can open a shell company in Nevada and transfer some profits over to that state where the taxes are less. Does anyone know anything about that here? Thank you!
there is a benefit for filing taxes as a LLC. its not a huge difference. There are a bunch of sites like intuit that will charge you $500 all inclusive to set up your LLC, but just go to your state website and you can do it yourself for under $100.
tradersaccounting.com is a good site as well. Setting up your tax strategy is a ton of trouble (like everything else) but it's worth it.