Recent content by newbee2020

Thank you for the reply. I am trying to do same set up as you. I started LLC, planning to make it SCorp (and perhaps M2M). Can I send you a direct message, if it is ok with you? Thanks for your help.

Thank you for taking taking to reply. Appreciate it.

My understanding is that if you trade under LLC (S Corp) with an intent to have an income to contribute for retirement plans, it needs to come only from trading income (and not investment income). Further the trading income is on profits for trades held for less than about 30 days. Anything...

https://www.tradersaccounting.com/ Does anyone have any knowledge/experience with them? They have packages for 6 mos and 12 mos for new business entities plus other tax related services. Please share your thoughts if anyone has any knowledge.

Thanks for taking time to answer my question. Useful information.

thanks

Is there a limit to how many times one can trade, assuming cash dont run out with margin enabled account?

Thank you. Thank you.

I am a novice trader and a question about trading. If I do multiple trades of same ticker in the same day how does it gets executed? does it settle for each trade or the broker just does the accounting for multiple trades and settles the final trade in the end of the day. ex: If i buy the 100...

Ty for reply. My understanding is that if you trade under LLC you can potentially save on self employment taxes for the profits, although the profits are passed back to me to be filed under individual tax return. Plus I intend to pay myself as an employee (for this I will have to pay self...

I talked to some CPAs,and they say it is not a taxable event for the individual, although one of said it is. I am still not sure. May I know your source for the information that it is a taxable event for individual. My individual brokerage says they can transfer the equities as is or can make...

Ty for the reply. What data fee you are referring to?

I have been trading for last 1+year individually. I feel I could benefit from LLC (s corp) primarily to open retirement fund and perhaps save some on employment taxes. My question is If I were to initially fund my LLC account by transferring equities from in individual brokerage and...