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It depends on what and how you trade. You may be giving up capital gain tax
advantage if you trade futures. If you do a "C" corp you will pay social
security tax to get your money out. If you do an "S" corp it might be different,
but this whole subject is very complicated. Start with Ted Tesser's books.
There is a very good small 44 page paper on this by Ted "The Investor's Guide
to the Taxation of Commodity Futures and Futures Options" Center for Futures
Education, Inc. 1-724-458-5860 fax 1-724-458-5962. e-mail info@xxxxxxxxxx
http:/www.thectr.com
I you incorporate you might be able to do a pension, but only on your W2 wages
from it. This will only work in the long run if you are making a net profit. and
on and on and on.....
I am a trader and a 35 year tax professional and I was glad to read his stuff.
brent
ps
Jim Michael wrote:
> Wouldn't it make more sense to incorporate and do all trades through the
> corporation?
>
> Cheers,
>
> Jim
>
> On Mon, 29 Mar 1999, Phil Lane wrote:
>
> > several sources on the web are telling me it's not necessary to pay
> > self-employment tax if you declare Trader status. Especially if you order
> > the book. Sounds great, but the cpa says not really, since it's "ordinary"
> > income (just like you get with a real job <g>).
> >
> > wahhhhh??? (tm goh.com) or what?
> >
> >
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