First, how much liability protection do you need for a ‘trading vehicle’?
Second, you will likely be sued in your state of residence. If you do not live in NV, I doubt the NV laws will have much protection. L
Third, if you are doing business in another state, you are ‘supposed’ to register as a foreign corporation – and pay taxes in said state. (Probably can get away with that since you are not advertising, don’t have an office, etc.)
Fourth, a lot of the ‘tax benefits’ of incorporating, (write off a car – especially a kid’s car, hiring your kids, etc.) are getting on the dark side of the gray area. If audited, you will likely lose that ‘benefit’. On the plus side? I don’t think it would be considered fraud so you are unlikely to go to jail.
From: OptionClub@yahoogroups.com [mailto:OptionClub@yahoogroups.com] On Behalf Of john sheldon
Sent: Monday, May 03, 2010 10:57 PM
To: optionclub@yahoogroups.com
Subject: RE: [TheOptionClub.com] LLC?
The protection is on a state by state basis, you are still protected in Nevada (which is a reason to inc in Nevada) as well as one or two other states.
John S
To: OptionClub@yahoogroups.com
From: rvdidit@yahoo.com
Date: Mon, 3 May 2010 20:37:39 -0700
Subject: Re: [TheOptionClub.com] LLC?
| I heard somewhere that asset protection really depends on what insurance you have.
You arent really protected any more being a corp because they can get the corp. so you need the insurance anyway. Again, it probably depends on individual case.
Ross
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> _____
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> From: john sheldon <johnlsheldon@...>
> To: optionclub@yahoogroups.com
> Sent: Sat, May 1, 2010 8:35:35 PM
> Subject: RE: [TheOptionClub.com] LLC?
>
>
>
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> I trade under an LLC & have a corp that manages the LLC to obtain more tax benefits.
>
> John S
> |
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