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Nope! It's a free ride!

Not at all. I was just pointing out that the other message was apparently confusing s-corps and partnerships. As to "what's better" an s-corp or comething else, that's determined on a case-by-case basis. Though I personally do not rush into recommending s-corps. They are full of tricks and...

LLC's taxed under Subchapter K partnership rules do not pay dividends or salaries to their member/owners. You might be referring to the Subchapter S rules (which do not apply in this situation here), in which case as a trader in capital assets a salary of $25,000 is very justifiable, per IRS...

The correct answer is what do you want it to be taxed as? Then structure your LLC operations and elections to yield that result. The LLC is quite flexible as per the way Congress and the IRS have it regulated (as long as it is reasonable, ordinary & necessary to run your business, and as long...

I don't think many tax advisors would suggest that the same account be used. ESPECIALLY if you didn't disclose that in the M2M election as required by the IRS regs and procedures...

Unless you think you're missing something that you want to specifically ask about, it sounds like you have it all under control! Meet definition of a Trader Document expenses Elected M2M

If you are referring to "professional" for the fees charged for real time quotes, it is true the the NYSE charges more for anyone in the business. An entity such as an LLC is defaulted to as a professional. An individual, in theory, needs to fess up and admit he is a business. Assuming one...

I never thought of it that way - as a resume BOOSTER. Hardly a boost, speculative "daytrading" is looked upon by 99% of the people in the USA as a bunch of kooks and wildmen, nut cases and the like. Several steps lower than people who might tend to "go postal" when things get a little rough...

While neither of us are asset protection specialists I'd suggest leaving it to the experts. The point of my posting earlier to point out the incorrect posting. A poster claim that he was a lawyer and by implication all readers should heed what he had to say about LLCs and asset protection...

With all due respect, if you were a qualified lawyer you would know that what you posted is patently and totally uninformed false information. Anyone doubting my allegation can simply go to Google and type in "Charging orders" to see that not all "lawyers" deserve the creditability they...

While this could work, and does work fine for many people there are two items you may have overlooked. If the agreement says that the child is paid a fee for managing the partnership's money, then the fee expense is passed thru on the Sch K-1 on line 13K and as such is limited in its tax...

As you've described it, it is perfectly legal and an intelligent way to accomplish your stated goals (assuming the fees/costs for the LLC are justified in relationship to the amount of funds put to use trading) If you want further clarification you can contact the SEC in Washington DC to hear...

Dasdxg, I was just referring to the repatriating rule which is not applicable any longer. Now the profits are a "deemed distribution" (repatriation) back into the USA even if the actual funds remain overseas. That link given earlier is for determining the taxable income from the disclosed...

That's old USA law. Current law is that the earnigns are fully and immediately taxable in USA even if the money never comes back into the USA. See IRS form 5471 http://www.irs.gov/businesses/small/international/article/0,,id=154943,00.html

This is a proven strategy. Though why when you lost $1,400 in such a short period of time, you actually suggest it is a money making strategy, I do not quite understand. Anyway, the strategy has many names, such as "it's just like trying to catch a falling knife strategy” or the "it simply...

Kenetra, Some food for thought that I might suggest: A corp in NV offers no more "asset protection" for a trader's account than does a corp in any other U.S. State... and that is NONE or VIRTUALLY NONE. Unlike most businesses, a trader's corp has no customers to sue him, no products to...

Sorry, I was being a wize guy :( The States can tax your income whether it is capital gain or otherwise. The States can also tax the net income or the gross receipts and have fees against your business whether "incorporated" (LLC or Inc, for example) or not (solo or partnership for...

Ummm... because it's the law?

It's not clear because small and solo traders are unique and rare when compared to all other occupations in the country. Some local areas do have a tax on most occupations. CA, for example, has many of these districts. If you've formed an entity, this sometimes, by default, is considered a...

Those who can, DO. The others TEACH for a living. That said, you might search for Dan Zanger's Chartpattern. He provides much information if you dig for it on the website and email newsletter, and occasionally he has a seminar for subscribers.