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Level 1
posted Jan 11, 2024 9:20:39 AM

I need help on how to file Tax as a Prop Firm Trader

Hello everybody, I made over 10k profits in the last 3 months of 2023 as a Forex Prop Firm Trader. I setup an LLC to trade under. I have made some transfer from my business account to my personal account. I plan on using Quickbooks payroll this year to handle paying myself...Basically I need help on how to go about filing and Paying Tax as a Forex Prop Firm Trader trading under a LLC taxed as an S-Corp.

0 3 1080
3 Replies
Level 15
Jan 11, 2024 9:38:05 AM

I would suggest consulting a tax pro. You already have a tax problem if you were an S-Corp for 2023 and failed to take a salary. 

Level 1
Jan 11, 2024 3:30:28 PM

Thanks for the reply. Do you suggest I find a local CPA/Accountant or use Turbotax Full Service?

Expert Alumni
Jan 11, 2024 4:17:37 PM

Either of those options will work for you.  

 

@Moses Ab