I agree that Trumps tax plan has no impact on professional traders. I said exactly that in my first post on the thread. Clearly when faced with a concrete example you are completely unable to point out any practical difference between being paid as a W-2 "employee" or a self-employed "employee". Is there in error in my example? Can you point out something specifically wrong with it? It appears not. Funny how you can throw insults around like a middle schooler but when it comes time to put up or shut up with an actual example you're suddenly "too busy" and we've gone "off topic", and it's a "silly example"! The good thing is that you clearly won't ever start an LLC so you can go on believing what you want, and those who actually might do so in the future won't go out with the mistaken understanding that if they make their company an LLC they can't also run it or that they have to worry about an "employee prohibition" impacting them in any practical way at all. There, we're all happy.
This thread is awesome. I'm pretty sure it's ending in a gun fight or an orgy. I'd totally buy a long strangle over this! I pretty regularly explain to people that your insurance agent, your attorney, and your accountant will all tell you conflicting advice with respects to LLC formation. I usually prevail in that argument (in insurance), when I point out "Limited Liability" is in its name.
I use to be an accountant for 6-7 years, doing taxes obviously and part of the year when slow in the industry I worked with a very notable law firm helping put clients ventures together, re-structuring clients entities and so on specializing in different business structures and the ins and outs of them all, which in a shell are relatively ease. But tiddlywinks couldn't be right, I was reading the conversation about W2's and what not. He is absolutely right, it's one of those things that's not even worth arguing. Just google it, or go and log in to your secretary of state and read. I have 7 personal as in just me LLC's, 2 LP's, and in the middle of another LP and an LLP, created 2 trusts so I definitely have experience as well. Now state to state there are things that will change, but W2 is not one of them