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Other end of Red Lion -- Old Red Lion

Thank you, jg. I do qualify (500 hours a year I understand is a good determiner). And I appreciate all the input. I'm starting to lean towards not incorporating. Wanted to name the business after my dad, who left me enough money to quit the day job and give it a stab (after six years of...

Thank you ---------------------------------------- If your business eventually starts to branch out into things like rental property and investment property then the LLC becomes important. If you start to take on any kind of "partners" then you REALLY need to start investigating LLC's and...

Anybody ever heard of Crestmont Farms in NE Philly? I'm getting ready to make the plunge to full-time trading. Hope I don't lose the house :D

Thanks to everyone. Good stuff. If anyone else was faced with deciding to incorporate or not, I'd appreciate hearing your reasons for deciding one way or the other. I realize every situation has its own circumstances, but every little bit helps. Barry

Don, thank you. Appreciate everyone's input. By "trading professionally," do you mean for a living or becoming licensed? I plan to trade for a living, but my money, no loans. Which loans are why you want to limit your liability in the first place; or trading other people's money, which I...

Thanks. I started looking this direction (LLC) thinking I could have a company car, not have to worry about tracking mileage, pay the kids a little, but being this small a business, didn't know whether it was worth the hassle of all the extra paperwork. Plus the taxes pass through, which I...

Thanks for the input so far. I appreciate it and any further advice. I understand I should probably talk to a tax or legal adivsor, but every little bit helps.

Can anyone weigh in on whether incorporation (LLC) for a trader has any advantages over sole proprietor (assuming it's a one-man operation)?