question about taxes and trading as a LLC or corp.

Discussion in 'Taxes and Accounting' started by jgold310, Jun 16, 2008.

  1. jgold310


    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!
  2. cmlg

  3. mustang


    Hey, check out, I've heard good things.
  4. 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.
  6. jtnet


    how much can you write off if you trade at home?
  7. is a good site as well. Setting up your tax strategy is a ton of trouble (like everything else) but it's worth it.