Does it make sense to trade under the protection of an LLC? Thanks for any input on this.
LLC for Trading?
- Thread starter PennySnatch
- Start date
Robert Morse
Sponsor
Not enough information to respond. Happy to chat tomorrow if you want to set up a call in the morning. I'll see if I can help. Email me if you want my help.
Bob
Bob
Your question is in line with "should he eat curry rice today?"
MattZ
Sponsor
Consult a professional accountant who helps traders like https://www.greentradertax.com/
He would be able to tell you whether you can deduct the fees you anticipate to incur as a trader.
I think that any account below $50K should be personal unless you have proven to have positive expectancy. Running an LLC does have costs.
can you qualify as a day trader status with a personal trading account or do you need a registered business account ?