I don't consider myself an expert of any sort and that is why I am asking for help. I am now in a tipping point of my trading career, that i need to stop thinking of this as a hobby. I want to register this officially as a business to take advantage of the tax benefits but problem is that my capital is only $9k. I day trade, so my commission expenses are big and I doubt i can keep this as a hobby since I do this for a living. Can anyone point me to the right direction? Or advice me on how to approach this situation.
Btw, I did checked with my accountant and she has no clue about trading as a business.
Thanks in advance!
Btw, I did checked with my accountant and she has no clue about trading as a business.
Thanks in advance!