Ive been reading on taxation (for US taxes) and how to minimize taxes by creating a business entity. Does anyone have experience doing this? From what I understand is that its much more difficult in writing off things such as seminars, business trips, etc. if trading is not your day job. The IRS sees it as a hobby if you dont meet certain criteria. Moving it into an entity would somewhat resolve this.
Please share your thoughts or experiences, what your setup is (LLC, C-Corp, etc.) and how is it benefiting you. I really want to run my trading like a business and have many ideas to expand on just trading, so the idea is there. I know this isnt the solution for everyone, but I'd like to hear from people that do this to run their trading like a business.
Please share your thoughts or experiences, what your setup is (LLC, C-Corp, etc.) and how is it benefiting you. I really want to run my trading like a business and have many ideas to expand on just trading, so the idea is there. I know this isnt the solution for everyone, but I'd like to hear from people that do this to run their trading like a business.