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I am a day trader in stocks and wonder if there are any advantages in having an account under an LLC?

Jasper Capital (LLC under Assent). Still not sure which way to go, I guess personal is simpler, not sure about all the duductions I now claim through my S-Sorp though...

But with a Corp I can deduct operating expenses, rent, software etc. can I do that if I do it through personal?

I will start prop trading in January and have a tax related question. I have a corporation and an LLC so am I better off getting paid into my personal account, Corp or LLC?

Do you know if this can be done using Turbo Tax?

Does anyone if I can file Trader Status with Turbo Tax?

This is really boring, can anyone recommend a decent CPA who doesn't charge an arm and a leg? How difficult is it to file Trader Status for a regular Joe Smoe like me, I make several trades a day so qualifying is not a problem (I think)?

If in 2005 I had 20k in short term cap losses and didn't file Trader Status and in 2006 I had 20k in short term cap gains can I file Trader Status and write off all the 05 losses against 06 gains?

I trade a dollar neutral strategy and plan to use 20 times leverage overnight on a couple of mill. I have been talking to a few prop firms that will allow this and narrowed it down to two: Jasper Capital (sub llc of Assent) and Bright Trading. Presuming the same commission, which one has the...

Yes, please clarify, I am confused

So if I get paid for shorts and I am dollar neutral wouldn't that net out the fees for the longs, resulting in no overnight lending cost. By the way one of the firms I am talking to will not pay me for the shorts, I gather this can add up to quite a bit.

By the way, it seems to me that not everyone pay you for the shorts.

10-30% phew!!! So I have to make 20% per year just to break even :eek:

What is a typical charge for overnights?

sorry about the duplicate post. I had some problems with another login.

I am new to the prop business, but not new to trading. I have been trading a dollar neutral strategy for a couple of years with very good results. I hold a position anywhere from a day to several weeks. I have been talking to a couple of prop firms and it seems that there is no problem...

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