Anonymous
Not applicable

Get your taxes done using TurboTax

I am looking into only 1 pay check or yearly pay check and it is toward end of year when you have good idea of total income for that year and bonus payment.

 

I am not sure what kind of book keeping for Securities Trading LLC or S corp will involve. Since there are clients or employees other than owner. What ever your are buying and selling it is on your monthly statements with commissions.

 

Any money moving in or out will also be on your statement. Like Cash infusion or withdrawal. In brokerage business there is no actual CASH. Not sure why they use word CASH as all money movement is via either check, ACH or wire these days.

 

I have no intention of using LLC a personal bank account. I can pay myself and there is 2nd advantage with owner S corp you can pay yourself bonus on top of pay check (at least that's what I read online while searching on this topic).