Hello fellow members,
My brother and I are thinking of forming a Delaware corporation and electing it as an "S-Corp", to invest in equities, bonds and option trading. We will not do any kind of business through this entity other than our investment plan.
The company's initial capital contribution will be from my brother and myself, split 50/50.
All future income of the company will solely be from capital gains/losses through trading in stocks and options, dividends and interest payments.
Is it advisable to form an S-Corp. to do investing only, and is "Portfolio Income" allowable for an S-Corp?
Lastly, what type of bookkeeping or accounting software shall we use to keep track of our investments, financial statements, and tax filing software?
Thank you!
Billy
My brother and I are thinking of forming a Delaware corporation and electing it as an "S-Corp", to invest in equities, bonds and option trading. We will not do any kind of business through this entity other than our investment plan.
The company's initial capital contribution will be from my brother and myself, split 50/50.
All future income of the company will solely be from capital gains/losses through trading in stocks and options, dividends and interest payments.
Is it advisable to form an S-Corp. to do investing only, and is "Portfolio Income" allowable for an S-Corp?
Lastly, what type of bookkeeping or accounting software shall we use to keep track of our investments, financial statements, and tax filing software?
Thank you!
Billy
via Small-Business-Forum.net http://www.small-business-forum.net/accounting-taxes/10104-s-corp-investing-activities-only.html
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