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Trading as a business

  • #1
  • First Post: Dec 10, 2005 1:29am Dec 10, 2005 1:29am
Has anyone here on the FF forum (U.S.) set-up a business for their trading activities? If so, what form of corporation was set-up?
I would like more info. on this since there are significant tax advantages such as writing off seminars, internet, books, etc. Besides, for personal reasons, I don't want any trading gains/losses flowing through my 1040.
  • #2
  • Dec 10, 2005 2:21am Dec 10, 2005 2:21am
I did set up a company under which I do my trading.
In my opinion an "S CORP" is most suitable.
Speak with your accountant for details.
Good luck...
  • #3
  • Dec 10, 2005 4:01pm Dec 10, 2005 4:01pm
I know of a few that are set up as LLC. Don't know much about the subject, though.
Because helping each other is a good thing.
  • #4
  • Last Post: Dec 10, 2005 5:45pm Dec 10, 2005 5:45pm
Quoting howtotradeforex
I know of a few that are set up as LLC. Don't know much about the subject, though.
There's no advantages of opening LLC or LTD.
They only sound cool, you must pay a greater fee for setup & annual state renewal.
There were some advantages few years ago but today they no longer exist.
I advise you to make an appointment with an accountant which usually will not cost you anything initially & will even save you money at the end. I did all the research & I'm just trying to save you some time.
Good Luck,
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