I will be trading $10,000 of my fathers capital.
Does anyone have input on how to best setup a partnership so that we minimize taxation and maximize liquidity?
Would this be a good idea:
Form a Limited Liability Corporation where I would be the managing partner responsible for day to day operations, my father only a contributing partner, but pay us both wages and re-invest remaining profit back into business?
Also, are capital gains paid if I keep all the money in the broker account?
Thanks much.
Does anyone have input on how to best setup a partnership so that we minimize taxation and maximize liquidity?
Would this be a good idea:
Form a Limited Liability Corporation where I would be the managing partner responsible for day to day operations, my father only a contributing partner, but pay us both wages and re-invest remaining profit back into business?
Also, are capital gains paid if I keep all the money in the broker account?
Thanks much.