Joseph2011

Greetings, I am new to the forum, but not new to trading. I have recently read about some key tax advantages to forming an LLC and trading as a business, rather than as an individual. I make one trade per day with ProFunds' leveraged 2x funds. The scope of my online trading activities and the purpose of the trades satifies the IRS requirements for "trader", rather than "investor". After reading various articles on the matter, I decided to look into forming an LLC, whereby it conducts the same trading activities that I do now, but using mark-to-market accounting. As I mentioned earlier, I am new to these concepts so I would greatly appreciate any advice that anyone has to offer, such as how to get started, what other options beyond an LLC I should consider, the advantages and disadvantages of my plan, etc. I suppose I will need a good tax lawyer, with ample experience and understanding of the IRS trading laws for individuals and LLCs, but perhaps not. What is your opinion? Should I retain the services of a tax lawyer who is well-versed in IRS trading laws, MTM accounting, and LLCs, or is this something that I can easily do on my own? I have a Master's degree in business management, so I think I can learn whatever is required with a little push in the right direction from those with experience in this area. What say ye? Thanks kindly.