Iâm a part time retail swing trader who it finally profitable but donât have a big enough account to go full time. I read with great interest the other thread that talked about full time retail traders. One subject that was brought up was legal entities. One person formed an LLC and another a Schedule C Sole Proprietor. I hold my trades generally for less than two weeks, so I am going to get raped by the IRS this year. Can someone give me the quickie overview of tax advantages for forming a legal entity? Also, I donât mind reading on this subject, but I donât even know what to look up. Tell me what to search on and Iâll check it outâ¦ Thx.