Keep track of your losses, they are deductable...... but i'm no accountant. Theoretically, you can operate as a sole proprietor and report your home business expenses without forming an LLC. I formed an LLC because i do not want the IRS disallowing my decuctions. Including my "interoffice commute" expenses. you can write off a lot of stuff, but i'm no accountant.
Quoting fijitraderDislikedNice handle.
On the subject of paying tax. I like to keep it simple and with trading it does not get much simpler. So, when do you pay tax as a forex trader? Only when you have a profit at the end of the year. To whom does this apply? Very few traders ever have to deal with it.
FTIgnored