Tax Benefits of Starting a LLC or Corp for Retail Trader

Discussion in 'Taxes and Accounting' started by IAS_LLC, Jan 6, 2014.

  1. Bob111

    Bob111

    #41     Jan 19, 2014
  2. You are right I am not as knowledgable about taxes for my situation as I should be...consequences of working 60 hours plus a week at my normal job. I haven't done any of the things he recommended - no car leases no renovations...I just created the llc funded an account and made trades... I am going to seek out another opinion - maybe tax attorney at this point..
     
    #42     Jan 19, 2014
  3. Thanks for the reply. I may be close to the reqs you mentioned but I did not exceed the 1000 trades. Maybe I will go for trader status in 2014...like I said...last thing I need or want is tax trouble...
     
    #43     Jan 19, 2014