Blog
What Are the Advantages of Forming a Business in the State You Reside In?
If you work as a day trader, incorporating your enterprise is a smart move. There will be a lot of considerations for you to make as you begin to make your business official—what type of entity you want to be, who (if anyone) will help you with operations, and which state is the most ideal […]
Stocks and Taxes: Here’s What You Need to Know
Tax season can get confusing when your assets are distributed in multiple different places. The taxes you pay on stocks you hold will depend on how your shares are structured and what you do with them. If you’re already an active or day trader, you may be considering the benefits of long-term stock investment. Make […]
Four Tax Deductions for Traders
Working as a day trader can be a challenge. Making quick moves in a constantly fluctuating stock market that result in consistent profit is a job that takes time, skill, and resources to master. Fortunately, when tax season rolls around, many of the expenses required to keep up with the industry translate into write-offs. In […]
Understanding the Wash Sale Rule
It’s important for anyone who buys and sells stock on a regular basis to be aware of tax code policies that can affect you come tax time. We understand that this can be a lot to keep track of—especially for day traders—and not to mention pretty confusing! The best solution is, of course, to have […]
S Corporations for Traders: Why They’re a Bad Idea
When you decide to take your day trading business to the next level, there are a number of legal entities you can choose to form for tax and legal purposes. Establishing a formal business for your day trading enterprise can provide you with some tax advantages at year-end, helps separate and protect personal assets, and […]
The Benefits of a Partnership LLC
Owning and operating your own business can be stressful, especially if you’re already dealing with the hectic, fast-paced workload of a day trader. However, creating a professional entity that can be taxed as a partnership—such as an LLC—for your trading business does have a number of benefits to consider.
How to Properly Dissolve Your Business
Unfortunately, business owners sometimes must make the decision to leave their enterprise behind and move forward professionally and personally. Perhaps you’re facing bankruptcy, ready to retire, or are planning your next big career move. Whatever your motivation may be, the process of closing your business should be completed thoroughly and officially.
How Does an LLC for Traders Work?
If you just started day trading, you might be wondering whether or not it would be a good idea to set up a Limited Liability Company, better known as an LLC, for your trading venture. There are a lot of established day traders who have created LLCs for day trading purposes. It doesn’t make sense […]