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09-05-05, 06:32 AM
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| Under which business entity do you work? Greetings... This one goes out to Career Traders in the USA (although I am sure it pertains to traders outside the US, I just don't know the proper terminology outside the US) Here goes... When I begin trading full time I will form a LLC or S-Corporation and become an "employee" of that business entity and reap the "benefits" of doing so (i.e. being able to get group health insurance for the family and I, reduce tax liability on my property, etc.). I just wanted get input from the full time traders out there as to under which business entity you do your trading under? Sole Proprietorship, Limited Partnership, LLC, S-Corporation, Non-Profit, or ??? and yes, I have heard of the offshore stuff, but to be honest, I would have no idea how to get that going. thanks for the feedback! Allen |
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09-06-05, 02:24 PM
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| Re: Under which business entity do you work? hey, i am going to answer my own question with what i discovered. so, if you are thinking about trading for a living do the following... form an "S-Corp". In other words become a Corporation. You can do so through a variety of professional services online. the advantages are long compared to simply trading as a "sole proprioter" (sp?). the biggest advantages come when its tax time. you will save as a s-corp, you will not as a simple trader. thanks           |
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