Trading account

Discussion in 'Prop Firms' started by fogut, Feb 4, 2010.

  1. fogut


    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.

  2. Surdo


    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?
  3. cstfx


    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.
  4. fogut


  5. cstfx


    sorry, meant to say entity, not identity, ala corporation etc.