Hello Folks ....i was wondering if forming an LLC for forex trading
helps to get taxes lower.....i dont know if it goes that way or
not...But is there any benefit for trading under an LLC other than tax
brackets if any...
would appreciate some discussion that
thanx
Yes there can be. Like any business there are different tax benefits to different entity structures under the tax code. One of my Tax Tips Videos which you can sign up for on my website addresses this question.
I have traded on Forex without having a company. At the end of the year they sent me a document to file with my income taxes. Thankfully it was something that came to a surprise as it was tax deductible - I had lost $5000 from trading!
I have traded on Forex without having a company. At the end of the year they sent me a document to file with my income taxes. Thankfully it was something that came to a surprise as it was tax deductible - I had lost $5000 from trading!
You mean tax deductible by the amount lost in forex trading???
That is new to me and probably I should look into it for more detail.
Thanks, guys!
jbeidle | Contributor | 11/17/2010 - 9:15 pm
AllStateBanners | Window Shopper | 11/13/2010 - 8:30 pm
royttm | Performer | 7/10/2011 - 12:22 am
bannerbuzz | Window Shopper | 3/19/2013 - 8:43 am
like this before...
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!