Successful Traders Use An LLC https://vimeopro.com/user34808387/trader-taxation-video-series/video/112926225
This is too general. I have $4mm individual accounts and $100K LLCs. You need to do what is best for you. Good luck, Bob
There are rules on what you can write off against trading and capital gains profits. I do not beleive an LLC exempts you from those rules. If you already have a car business my advice is for you to get an accountant anyway. You might be surprised all the deductions you are entitled to.
There are a few tests for trader tax status and one of them is minimum of 720 trades per year.... ps you'll be well served to contact a CPA that understands trader tax, 99.99% of CPAs have no clue.
How To Become Eligible For Trader Tax Status Benefits https://www.forbes.com/sites/greats...-for-trader-tax-status-benefits/#2011314c3e35
https://www.elitetrader.com/et/threads/option-trader-tax-status.304156/#post-4356011 As a Future trader (only futures), you just need your brokers 1099-B for tax purpose. In a company, you should add a justification of any special accounting policy that you could use. You obviously need to keep records of business transactions, including proceedings of futures contracts. But, don't ask for MTM accounting treatment by IRS: You will lose your 60/40 tax treatment and being qualified as a short term trader only. Business tax trader, MTM recording of transactions, and MTM tax treatment are different subjects. Good trades!