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If you incorporate and do all the trades through the corp. yourself you will not
get trader status. You would still be the primary functionary in the corp. and
the primary beneficiary of any profits. Your efforts would be considered
ordinary income unless you hired someone else to do the trading and, then, you
have an employee like a regular functioning corp. Won't work unless, maybe, you
do it in Nevada. That state has no communication with the IRS. Therefore, you
can designate a functionary to vote for you and shield your identity. I still
think there would be problems, but you could try. AMA
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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