I am looking at scalping S&P emini futures regularly and wondered how it works taxwise with the brokerage commissions and fees directly associated with the trades. I've been averaging ABOUT 50 round trips per day (10-15 contracts per scalp) so the fees/commissions add up quick. Am I taxed on the GROSS profit or can you offset the gross profit by deducting the fees/commisisons from that gross amount and pay the taxes on the amount net of fees/commissions? Of course the next question is should I be setting up a single member LLC to do this trading? I know that the info I am providing is limited so I am not looking forward to an in depth answer, just a rough idea so I can see if this makes any sense (taxwise only, not trading-wise!). Thanks!