I am wondering if it is common to put down your parent's name or wife's name on your trading account to minimize your income tax amount ? This is of course assuming that your income is significantly higher than the person whose name is on that account. Thanks.
Are you are asking about tax evasion on a public forum? You can legally have a joint account, but putting the account in someone elses name is a horse of a different color. Then again I am not a CPA, so what do I know anyway?
You are better off setting up an identity and have it pay the taxes on it rather than pass thru to you. You can set up a trust to trade as well. Many possibilities. Talk to an accountant.