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Re: Tax issues for United States
You need a guy that knows his stuff. I have seen many traders get nailed from the IRS for poor records and deductions they could not take. I know one individual that made over 3000 trades in 9 months, he took the last 3 months of the year off for a reward and when filed his taxes he claimed "Trader Status" and it was denied. The guy made his entire income from trading, he did it more than any other activity but when he took 3 months off he didnt qualify.
It is best to get yourself structured (Nevada or Wyoming) and go from there.
Just make sure that the people you use to set you us and the accountant you use is a business accountant so you can take full advantage of the tax laws available to businesses in this country.
Later
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