How To Set Up A Trading Business (LLC, Trust, Or Corp?)

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So you want to set up a trading business. That's all well and good, but the question on our mind is if you know how to set up and run a trading business?
You can set up a trading company right now if you wanted, but that's not the issue you should be focusing on. The point of interest should be the steps that come after establishing the business itself.
If you are a business owner, real estate investor, or active investor, please request your free 45-minute strategy consultation with Anderson Business Advisors 👉 aba.link/89v
Toby Mathis is here to delve deeper into the world of trading businesses and what you can do to be the boss of your empire.
Building that long-term wealth and creating something from scratch is time-consuming, so it's best to get started sooner rather than later.
From start to finish, this video has the basics of what you need to start your stock trading business. With each step, Anderson Business Advisors and Toby Mathis are there to help you achieve your dreams.
Thank you for coming to the channel and watching our video.
We hope that you found the video to be informative and helpful if you were planning on starting a business in trading.
If you liked the video, we would appreciate it if you clicked the thumb-up icon. Furthermore, if you really liked the video, subscribe to the channel as we upload content similar to this one regularly.
Questions and comments? Leave them in the comments section as we love to hear from you and try our best to respond in a timely manner.
Good luck with all your endeavors, and tune in again for more great wisdom.
0:00 - Intro
1:01 - Definition of a trading business
6:25 - Trader vs. Investor
10:42 - Why people choose trader status
15:39 - Why create an entity
19:43 - Setting up your trading business
24:14 - The power of your c-corp
30:26 - Here is to avoid an audit
36:09 - Short summary
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.
#businessstructures #daytrading

[@TobyMathis]

Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. 👉 aba.link/89v

[@rabbit892004]

I would love for you to help me set this up fam

[@michaelleon5629]

Let's do this when can we meet

[@obiomkpanam9472]

Can you help me set this up

[@VijayKumar-td3hx]

Are there any limits on numbers of trades per year to treat one as a trading business account?

[@user-lz2xf6mm4w]

Just signed up for the workshop. Thanks much this is right up my ally.

[@pjlifestyle5731]

My man! I’m 23 and I decided to pursue to be a day trader and I’ve been trying to find a clear video about this. It definitely helped a lot! Thank you so much 🙏🏽

[@adrianapollyon5087]

Are you part of the 95% or the 5%?

[@stponyt]

im 20 n this vid is amazing

[@JamesSmith-ct8kw]

straight up!

[@badazzl5oc625]

I’m 31 and in the same boat good luck to us all! We got this!

[@theslowsimracer6168]

Damn I’m 23 too. now I make all this money and I’m just trying to figure out how to maximize it lol.

[@hwnwhaler1]

This is the best most detailed explanation I’ve seen. And I’ve watched many. Mahalo nui!!! Subscribed

[@xxxnonamexxx5615]

I think this may be the most important video for traders to watch. I watched it twice just to get the concepts. It certainly changed my view about becoming a day trader and most importantly it showed me about the potential liability of losing all your hard earned money. Thanks Toby you’re brilliant!

[@Monstars_OBG]

Do you trade by yourself or within a community?

[@STELLASCUTENESS]

Precisely what I needed and couldn’t find elsewhere after years of searching! You just got a new customer!

[@TobyMathis]

Please let us know if you need anything!

[@danielchenet6999]

So much knowledge! Thank you Sir for sharing all these info, you have gained another subscriber! 👍👍

[@ediem4222]

Your videos are so informative. I can't believe you give all this info for free.

[@imcalvintwo]

This was great! I’ve been starting my trading journey and decided to look into creating an LLC for it. I’m glad I started here, thank you for the information. Now on to beginning the process of setting up an LLC and trade through there!

[@user-rl5yy6qi8h]

hey, I am confused. Can an investor (someone who doesnt day trade regularly) can setup Trading Business, brokerage account, structure it as LLC (C-Corp), and will be able to deducted business expense? Does the LLC need to qualify for TTS?

[@pmamba2486]

Thank you so much for this video! So much info! Please do more of these!

[@murphydogprod]

Fantastic content here Toby! I've been subscribed and really enjoy the way you break these topics down. Thanks for taking the time to share your knowledge.

[@murphydogprod]

Spoke with a person at Anderson today with a followup next week to talk about this sort of thing. Good stuff.

[@jjennifer321]

Very informative and really helped me to plan. I really appreciate you for the video. Would you please do another video on how to transfer your personal brokerage account(s) to the trading partnership and the tax consequences?

[@rainbowshulacorns3666]

Please

[@prograntsproposals424]

I never knew the benefits of having a WY LLC until watching your video. You provide great and thorough information.Thank you!

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@rabbit892004]

People from Wyoming been blessed to have you as a lead. I’m in San Diego, Ca I am giving this a try in the near future. I pray to God Almighty to bless your way, home and family as you have blessed me.

[@DisciplinedTrader27]

You are gettinh fked with taxes 😂😂

[@13Floresj]

Thank you!! I’m so glad I found your channel! Very good information!

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@invictus_1511]

Just the video I needed. Excellent content and clarity

[@TobyMathis]

Great to hear, thank you for watching the video!

[@RicherThanIeverbeen]

Needed this, thank you!

[@Regoinvite]

Thank you so much for all information. Please continue to publish videos. Thank you.

[@8kwara]

Thank you so much for the most simple breakdown on this topic !

[@TobyMathis]

Thank you for watching our content!

[@organizer14]

Excellent and very useful guidance. Thank you very much!

[@lfraser6376]

Thanks so much! Any info about the do's and don't of a Trading Corporation are much appreciated!

[@PaulBrawl-lc7gz]

So far investor sounds better than trader due to the points you made my man, thank you.

[@vincentanguoni8938]

It's not just what you make.. Its how much you keep!!!

[@avatads438]

I just had to subscribe, such good info was spelled here!

[@holdthebagtogetthebaginves1603]

Great video. thank you for the solid information.

[@alliesteamc3546]

Thank you for your educational contributions! You are a modern hero teacher!

[@TobyMathis]

Wow, thank you! We appreciate viewers like you taking the time to watch our content!

[@vincentanguoni8938]

I like how he talks about creating something.. I built beautiful small homes.. I renovated and sometimes saved old homes.. Today its called flipping.. I was no flipper... I like this guy!!!

[@seojimjames]

Brilliant Advice, Thanks Toby.

[@holdingthings1001]

I clapped for you. Excellent work.

[@Murphys_Law9]

Ready to get this journey started.

[@kennethgrayer2271]

Brother thank you so much. Very helpful Happy Holidays and God Bless

[@TobyMathis]

Happy holidays to you too Kenneth! Thank you for watching our content.

[@larsvongraff5794]

I’ve been a FT day trader for 3 years out of the six I’ve been going at it. I think it’s worth mentioning that TTS makes trading loses (timely election of Section 475) MTM which gives wash sales different treatment. If you have a high win percentage this is obviously less of a factor, but could be valuable for certain types of traders dependent on you underlying strategy employed. Also QBI 20% deduction and several others…Either way, you you want to go at this profession treating it like a full time job and not be torn between trading and another gig. Laser focus is required. Mistakes cost a lot when your not dialed in super tight when intraday positions are on. Good luck!

[@bruhmode283]

Thank you for making this video this was one of the most informing and easy for me to understand. I greatly appreciate it.

[@TobyMathis]

Glad it was helpful, thank you for watching!

[@klwiseman23]

Hi Toby, Thank you for sharing your knowledge.....It's invaluable! I have one question regarding the Management Company set-up in a Trading Business. Once I set up the C-Corp would I be allowed to manage all the activities (not receive a salary just claim expenses) or do I need to hire a license firm like Fidelity or T Rowe Price?

[@organizer14]

Very practical high value solve important problem, many thanks!!!!

[@TobyMathis]

Glad to hear that!

[@organizer14]

Thank you very much for brilliant insights on how to structure etc.

[@TobyMathis]

I'm glad you found the insights helpful!

[@derrickswims]

Toby this was solid!!! Wow, very well explained. I loved the description of the structure versus the Trader status.

[@kylegirdler1882]

I started a business last year and it didn’t even get off the ground because I realized I was just trying to do something that I didn’t want to do. I’m very passionate about trading and have had a great deal of success I plan to make a structure like this probably at the beginning of next year. I will be contacting to find out more info thanks for the great ideas

[@wealthtour]

Thanks very educative .

[@obiomkpanam9472]

Am new into trading, would likely want to watch this again.

[@stevenpower1804]

Excellent information. Thanks for sharing!

[@TobyMathis]

Our pleasure! Thank you for watching!

[@Jay-es3vm]

Very informative! Thank you so much! I've been focusing on what it takes for TTS, and this video provides a viable alternative!

[@TobyMathis]

Glad it was helpful! Thanks for watching!

[@jacobsin6085]

Thank you Tony, you got new subscribers, and I have share your KZbin to my friends and family.

[@TobyMathis]

Awesome, thank you!

[@baxoutthebox5682]

Toby is truly the GOAT, proud to be an Anderson Client

[@julianrestrepo3050]

Awesome! My friends at Anderson Advisors are helping me do this. Thank you.

[@TobyMathis]

Excellent! Thank you for watching our content.

[@OMZCapital]

Absolutely the BEST I have ever heard! Thanks, Toby for taking the time to explain this in detail! 😃

[@TobyMathis]

We are glad that you found the video helpful!

[@infraaa_]

At first I was skeptical how helpful this would be. Then he started talking about data flow being able to be deducted and that got my attention. THEN he started talking about writing covered calls, and I realized 'this guy really knows his stuff'

[@luckysouljah]

Awesome video my brother thank you. Truly appreciate it🍀💚🏁

[@michaelhuff7419]

I have learned a lot i will watch it again

[@jiafei1821]

thank you so much for sharing this information. It's very helpful!

[@TobyMathis]

Glad it was helpful!

[@J3Trad3s]

This was great info Toby. Thank you so much! The way you explain and the examples you gave..made it easy to comprehend and proves your knowledge and experience in the field. Thanks for taking the time to share the info 👍

[@TobyMathis]

Glad it was helpful!

[@paulpassarelli3001]

Thank you for your time in making this.

[@TobyMathis]

My pleasure! Thank you for watching.

[@organizer14]

Yes extremely useful, many thanks!

[@TobyMathis]

Glad it was helpful!

[@kendellfriend5558]

Im just getting to this video now, I’m not a CPA but I am a student in accounting (undergrad not grad). So glad I structured my business this way. 😩 I’m opening a cafe in December with my trading proceeds from forex.

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@Rick-the-Swift]

How's the café made possible by forex going? Just curious

[@chrisWTG]

help me out, i made a wyoming series LLC, can i structure it in a similar way?

[@Nico-jt4jd]

Toby, you’re my new best friend. Thank you for this video.

[@TobyMathis]

Any time, thank you for being a viewer!

[@healthfullivingify]

Thnks, Toby. Great job explaining why we NEED the privacy/anonymity and protection against charging orders by using WY LLC's and WY corporations.

[@TobyMathis]

Thank you for watching!

[@domzilla89]

Awesome information! Thank you for taking time out to share!

[@TobyMathis]

Glad it was helpful!

[@thomasd8888]

You're a life savior. Thank you so much.

[@TobyMathis]

I'm glad I could help!

[@thefirm9679]

Fantastic Meaningful Content, Thanks Toby And You Have A New Sub And Thumbs Up

[@TobyMathis]

Welcome aboard! Thank you for joining the community!

[@mc68hc916]

Great video; very informative. Two questions; Do the entities need to make a filings with SEC, and is a securities license required of the trader now that trading will be done under an entity?

[@lorraineevans351]

Amazing information thanks! I’m a travel RN with real estate investing on the side. Would love any videos on those topics

[@arstein30]

Thanks Toby, great video as always. For the trading account in the Partnership, does it need to meet any specific trading requirements like the active trader does? (e.g. number or frequency of trades?) And after I make guaranteed payment to partner, how is any remaining profits in the trading account taxed? Short term Capital Gains on 1040 schedule D?

[@tradingmompreneur]

Thank you so much for this information.

[@TobyMathis]

You are so welcome! Thank you for watching the video!

[@danielclayton7524]

Thanks so much. Great video.

[@TobyMathis]

Thank you for watching!

[@justincutts9529]

Great video and easy to understand.

[@patriotoftruth3061]

I found this video to be extremely helpful! Thank you for your insight. I did have several questions: (1) When requesting an EIN what would I put in the “type of business,” and what category would it fall into? (Like finance) (2) If I proceeded with “other” for the type, would I simply state “day trader,” or something like “portfolio management”? Thank you again! I look forward to watching more of your content.

[@TobyMathis]

1- The ol' 'it depends' applies here, but fortunately, it is not super legally significant. It is just for statistics gathering for the IRS, and it will not affect your liability or taxes. You can choose whatever fits your business, including 2- "Other". If you choose that option, you can list what you want to as the purpose. Many will say something like "Asset Management" if they select the "other" option.

[@KonockusSashington]

just curious could a forex trader with LLC get business credit? if so wouldn’t you want to be careful what you choose for the EIN since there’s some red flags of risk for lenders (i.e., banks)?

[@andrewcarlson2178]

@@KonockusSashington as far as i understand it, you can leverage funds through the broker. I believe the rule in the U.S. is 50:1, meaning you can leverage $50 per dollar in your account, similar to stock options

[@yazminfrances]

top tier content - thank you!

[@josephwatson6002]

This is great, thank you!

[@TobyMathis]

Glad you liked it!

[@aurelius7435]

Very informative and very well explained, thank you. Question: At 16:37, you allude to strategies for maximizing the underwriting value of rental income by having it appear as K-1 income, on the second page of Schedule E. Do you elaborate on the this setup and technique in any of your other videos or writings?

[@tripham8817]

Wonderful video! Thank you so much for putting this out there.

[@TobyMathis]

Glad you enjoyed it

[@oceanwonders]

Such valuable content!!!

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@vennapusa7]

Awsome explanation, This is very useful to me. Thank you so much once again

[@TobyMathis]

Glad it was helpful!

[@sears62]

Thanks for doing this video

[@TobyMathis]

Our pleasure, thank you for watching!

[@sedricj5345]

Very informative video Toby! It helps a lot. I’m building a new trading business from scratch and this information was on my mind. The best way to structure it as a business. Based on your knowledge I’m sure I will be in touch. Thanks again!

[@TobyMathis]

If you have any questions, would like a free strategy session, or want a link to register to one of our free events just let us know!

[@sedricj5345]

I would appreciate a link to your free event and info on a free strategy session.

[@wudnehygzaw7190]

​@@TobyMathis How can I register for a free event?

[@necromancerdarthvader1484]

Yes please, I’m interested as well

[@necromancerdarthvader1484]

Links in description btw.

[@jerontownsend5903]

Great info...I appreciate the nuggets

[@TobyMathis]

Thank you, let us know if you have any questions!

[@johnyc.8714]

this is exactly what im looking for! thank you mr mathis !! i will def hit you up when im ready fo this adventure

[@TobyMathis]

Awesome to hear that you found what you were looking for

[@brucebramblett8807]

I have been looking for content on how to set up what I need properly. Toby knocked this out of the park. I have had accountants that couldn't get passed the notion of someone making a living trading. Yep very small % of people make it. I have after many years of studying and struggling have been able to do this. My question is, can a individual trader back file earnings after opening a business structure for trading? I have no interest in filing as a "trader"

[@rockroll7649]

The reason for the "95% lose money" metric is because most beginning traders blow out an account, give up, and walk away. I blew out 2 accounts my first 3 years in the business. Trading is a difficult business and traders can expect to lose money for the first couple of years. Being a good technical analyst is not good enough. Traders need to understand the behavior of the market they are trading in.

[@khafreahmose8768]

They also have to conquer their own psychological idiosyncrasies which I think is the most common reason most traders are not profitable.

[@sweetsuccesstrading5097]

The FIRST Thing to Understand is how to Manage RISK. Risk Management is the Most Important Lesson to Learn FIRST. There are Videos to Learn it.

[@khafreahmose8768]

@@sweetsuccesstrading5097 true. Risk Management is definitely important, however, risk comes in many forms other than capital risk. There's also psychophysiological risk, time and space risk, utility and telecommunications risk, market risk, account management risk. So on and so forth... So yeah risk management is critical but traders must take into account all of the possible forms of risk to properly prepare and hedge.

[@streamingaccess4719]

Thank you, Thank you, Thank you 😘

[@TobyMathis]

Thank you too!

[@adrienpetersen]

Would love to see more videos around trading businesses.

[@TobyMathis]

We will take your suggestion into consideration, thank you for watching the channel.

[@Tealeafsong]

Thank you.

[@globalgogetter4469]

Good one Tobe!👍🏿

[@javiercolon9382]

Thanks for the video!

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@JG-sg7yy]

Amazing video Toby. I'm curious about the following: (1) not a day trader but more often than not will hold stock for under a year (2) don't want to hold stock in an individual account since holding period is considered short term gains (3) would electing for to be taxed as a C-Corp instead of just LLC as a pass thru be better since C-Corp are lower than the short term gains bracket?

[@BryonLape]

Tried setting up an LLC in Ohio years ago. Didn't take long for the State to make be regret it. Closed it the first filing year.

[@HectorCondis]

Thank you Very helpful

[@TobyMathis]

Always welcome, thank you for watching!

[@floydhemingway1012]

Greetings brother this information was great and very easy to understand. I am going to check out your website and channel. Thanks for great content , God bless you and your family.

[@TobyMathis]

Greetings Floyd, here is a link to our website andersonadvisors.com/

[@pp-8829]

Thanks!

[@user-rh2nn3tl9J]

Wow this is go to man. Nailed it. Thanks Toby!

[@TobyMathis]

Glad you liked it, thanks for watching!

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to WHATSAP to contact you and learn about this wealth of knowledge?

[@gennytrickett1580]

Love your videos…

[@michaelmolina5742]

Thanks so much for this content

[@TobyMathis]

Glad you enjoy it!

[@bostonredsox1407]

Notes to Self: 1. Stock market only? (What about forex?) 2. Trader not an investor because you are making a living off the risks and for 75% of the year. Min. 180 days. About 4 trades a day. 3. Trading continuously.... 4. Holding period is less than 30 days. 5. Write off computer, internet, phone, cost of data, whatever I am using in my trading, etc. As an investor you can't write off those things. 6. Schedule D for trader and investor status. Expenses on Schedule C. 7. Losses can be written off up to $8000. Use losses against capital gains. Up to $3000 and carry the rest of losses the following year. You need to be active at trading so you can carry losses. 8. MTM election. Not a big fan he says. 9. Trading structure: Create legacy, asset protection, business planning, taxes. 10. Page 2 of schedule E. Partnership. Pay a partner so that it is deductible. Your percentage is the Net. This is a C Corp or a LLC taxed as a C Corp.

[@russelldixon5663]

Toby, I found your YT channel just recently (and love it, Thank You). In this video @ 16:18+ you list a few entities for Legacy/Perpetuity. Although you probably answer this elsewhere (Still searching) is an S-Corp a good option for carrying generational wealth forward? I'm not there $ yet, but have owned/used an S-corp and liked that structure. Also, can an S-corp be owned by or held within a living trust?

[@user-lz2xf6mm4w]

Great question....

[@EduardoJSanchezPA]

Amazingly educative video as always Toby, thank you! My questions: Would you be running/paying the trading expenses including trading education directly through the managing C-Corp or the trading LLC, if the latter would you still be able to deduct commission, expenses of the trading business? and would this C-Corp be set up in Wy as well or could be your state of residence? Finally, if I already have an S-Corp and want to use it for this managing purpose, would it be advisable to change its status to C-Corp, or do I need to set up a brand new entity taxed as a C-Corp? Thanks again and sorry for the multiple questions.

[@TobyMathis]

Great questions! Generally you will have the trading expenses running through the management entity (the C-Corp or LLC taxed as a C-Cop). You can have expenses flow through directly, but will then be more limited in what deductions and reimbursements are available. Usually the C-Corp is set up within your state of residence to make sure any and all local rules and regulations are followed. Finally, if you already have an s-corp set up you MAY repurpose and use that same entity (you'd need to speak with your advisor or join our platinum office hours to go into more depth on s- vs. c-corp taxation pros and cons), but you want to be careful with that as any liability of the previous entity will flow through to the new trading business as well. It is often safer to start with a clean slate and a new entity.

[@johnmulham2381]

what if you moved out of the country recently so dont have a dedicated residence but want to set up the C-Corp/LLC structure.. @@TobyMathis

[@christianhnilicka19]

Fist time watching one of your videos. You have definitely locked in another regular viewer and thank you for the wisdom. Quick question: In your example the brokerage account it attached directly to the management LLC. Is it wise to set up a separate LLC for trading specifically that is housed under a separate asset management LLC. What Im wondering is if there are benefits to doing this or would it complicate or limit the deductions available? Mabey you already have another video about this.

[@javadghandi]

Thanks a million for all the info. You are a real pro . I will stay in touch ...

[@TobyMathis]

I appreciate that!

[@joshyoung6191]

Great info. Thanks! I'm a successful day trader but also have a successful appliance repair business.

[@TobyMathis]

Great hustle! We are happy to hear that our video offered you some good information.

[@Rick-the-Swift]

Josh, where are you from? I have many properties that need appliance repair and/or maintenance. Please respond asap as I'm about to pay out big bucks to a local contractor.

[@joshyoung6191]

@@Rick-the-Swift I live in Arkansas about an hour north of Little Rock.

[@joshuaremintier9990]

Could u please do a video on how to reduce taxes to zero or as close to zero as possible for a stock trading/investing business? How does that look like in practicality? Great video btw!

[@sblijheid]

If you're profitable, there is no such thing. Don't belief what you hear on TV.

[@daveleev4401]

Thank you so much Toby for such a valuable video! I always watch all your videos and learning from you. Currently, I have a personal exchange trading account to trade crypto. When I create a structure according to the video, do I have to change my personal trading account to a business account for of the two companies - a partnership or the C-Corp? Which one?

[@kellylisa3939]

Hello, I have a lot of related knowledge that I don't understand. Can I add your number to What's AP to contact you and learn about this wealth of knowledge?

[@megan8494]

How do you suggest wording or what "service" should we say we are providing as day traders when applying for a business account? Running into issues getting approved due to me providing "financial services"

[@l.a1712]

Wow, great info I just started trading and this is the best info I've head that makes sense.

[@TobyMathis]

Glad you enjoyed it! Thank you for watching our content!

[@l.a1712]

@@TobyMathis Question @ what point in my trading career should I setup what you explained in the video!