CBOT seat lease/buy implications

[stktips]

Fellow Traders

What are the tax implications for buying or leasing a CBOT IDEM seat? I read on a old thread @FICA tax if you buy a seat.

It would be great to hear from members who own/lease a seat.

What are the 'other fees' or 'hassles' that come with buying or leasing a seat. I am paying IB @1000/month in commissions right now and would like to save few bucks.

 

[FrankSlaughtery]

i don't lease/own a seat but AFAIK you will be subject to FICA taxes.

a quick GOOG search turned up the following link. scroll down to the bottom of the page for the source. if you want additional confirm just call them and ask.

http://www.tedtesser.com/faqs.html

 

[nazzdack]

Quote from stktips:
----buying or leasing a CBOT IDEM seat?
----'other fees' or 'hassles' that come with buying or leasing a seat.
----like to save few bucks.

Contact one of the firms that "help" customers with seat acquisitions.