Alan Lattimore <AlanRemoveThis[at]deskrocket.net> wrote:

- quote -

Then I agree with you. When deciding whether to incorporate
or use another form of business, a CPA or other qualified
tax professional is the first person to talk to.

Stu

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"Gil Faver" <Rowdy'sboss[at]ND.com> wrote:
- quote -

You do not know that. Some people do have dual practices.....

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Stuart -

I'll also need a lawyer.

What I'm most interested in right now are the short and long
term tax implications of trading for a living, and how to
structure my business in order to minimize taxes.

I know a little bit about mark to market, for example, but I
know a lot less about the effect of business entity
structure on creating a tax strategy.

For example, am I best off with the investments under a
partnership/S corp to avoid double taxation if/when all
investments are liquidated? Is that even something I should
be thinking about?

How do I best use C corps for income shifting and for
providing those tax advantages that are only available to
corporations?

The last time I incorporated (for a software services
company), the lawyer we retained was experienced in
corporate law but wasn't as much help as I would have liked
to have in terms of guiding me through the tax implications
of various entities.

With that in mind, am I still looking for a CPA or am I
looking for another professional, such as a tax lawyer?

Thanks for a wonderful and informative newsgroup.

Alan Lattimore

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"Stuart A. Bronstein" <spamtrap[at]lexregia.com> wrote in
- quote -

They are also not licensed in those areas.

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Alan Lattimore <AlanRemoveThis[at]deskrocket.net> wrote:

- quote -

You're probably better with a lawyer who knows what he's
doing rather than a tax preparer for this purpose. There
are securities issues and legal issues regarding liability
that are easy to screw up, and in general CPA's and EA's
aren't trained in those areas.

Stu

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

I am a full time stock trader in the Albuquerque, NM area in
need of references/ recommendations for a tax advisor to
help me set up business entities for the purpose of asset
protection and tax advantage.

Thanks in advance,
Alan Lattimore

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >