How To Day Trade As a Business (Using an LLC)

Are you ready to elevate your day trading from a hobby to a full-fledged business? In this video, Brian, an experienced day trader and business strategist, reveals the secrets to turning your day trading activities into a profitable LLC. Dive deep with us as we explore the advantages of trading as a business, including tax benefits, legal protections, and much more.

What You'll Learn:
✅ The Benefits of an LLC for Day Traders: Understand why forming an LLC can be a game-changer for your trading endeavors.
✅ Step-by-Step Guide to Setting Up Your LLC: A straightforward walkthrough on how to establish your LLC, making the process clear and manageable.
✅ Tax Advantages of Trading as an LLC: Dive into the significant tax benefits and deductions that can optimize your financial performance.
✅ Managing Your Trading LLC: Tips and strategies for effectively managing your day trading business, from keeping accurate records to optimizing your operations for growth.
✅ Protecting Your Assets: Learn how an LLC can safeguard your personal assets, ensuring that your trading risks don't impact your personal financial security.

⭐ Interested with working with my team?
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Time Stamps
0:00 - Introduction
2:09 - Introduction To LLCs For Day traders
2:43 - Setting Up Your LLC
5:56 - Tax Benefits
8:26 - Asset Protection
10:50 - Regulatory and Tax Reporting
12:37 - Common Pitfalls
15:15 - Summary

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DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need tax solutions I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and/or use myself. Some of the links on this web page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing the content this channel.

[BrianRiveraCPA]

We earn a commission if you shop through the link below
🤙 Get Help Setting up Your LLC!

[charlesjoseph]

I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow

[SvetlanaTatiana]

I'm considering getting into forex or Bitcoin investment but feel a bit unsure. Do you have any advice or know someone I can reach out to for guidance?

[Kaustavpatell]

When I started trading last year, I made significant mistakes. however, ever since I've focused on investing modest sums in stable businesses for the long term especially stocks. If stocks perform well, I hold onto them; otherwise, I reinvest losses into profits. Recently, I made $9.5k from a $4k investment in NVIDIA.

[WilliamParadis-mere]

Really great video. Capital gains tax is absolutely brutal. Also, having a layer of protection from personal assets is extremely smart IMO. Good stuff, appreciate it

[MamieEvans-dpsc]

I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.

[jakeottinger]

Good info thank you! Can I make a suggestion as an audio engineer? Everytime you touch the table and every plosive with your voice there is a loud thud in the sub region. you can use an eq to set a highpass filter at 100hz on your voice and it will reduce it greatly without really affecting your voice. You can also decouple the mic from the table by using a stand on the floor. Those two things will help a lot.

[BasicFolders]

Of all the videos I search for on the subject, I always feel you're the authority on this. A tax guy, a CPA, and one who day trades. I'm thrilled every time you do a video on day trading as a business.

[zergravity]

It's a lot of information to take in, but it's valuable information. Subscribed 🔔

[jlw]

Thank you sir! Just found you today and this was most all that I was looking for:) subscribed!

[KeefusCollard]

Trading is mental game, that is why most people lose money because they cannot control their emotions. Because the prevalent idea of our culture is to effortless indulge and focus on their own pleasure and wellbeing, but controlling your emotions is unpleasant and painful and that is why most traders lose money because they don't want to meet the pain. That is why there is so many drugs, alcohol, obese and fat people, broken marriages and adultery.

[oluwatobiomotayo]

How about trading with Prop firms?

Also what NAICS code do we use to create the LLC as a forex day trader (especially with prop firms) so the banks does not deny us opening a business account?

[clippyrema]

You just gained a new subscriber 💯. I need you as my CPA

[mr.kurtezfx]

I needed this, especially this year. I was happy because I just started seeing consistency in my trading but taxes been on my mind heavy.

[pabloe]

If I trade as LLC and high earning income W-2, Income is combined, but what about deductions? Do I need to itemize both? Or W-2 standard and LLC itemized

[aminlawal]

Great video, trading come with a lot of
benefits And I have just bought my first
house through it. As a beginner I was
scared of loosing my savings but I'm glad
I took the bold step that is now favoring

[PatientAnnabelle]

Often, I hear individuals talking about the profits they attain from investing in Bitcoin and Forex. As a beginner, what steps can I take to begin with this?

[carolinadreamer]

Have an LLC, just opened a TD account through the LLC. This video came just in time

[EdeerRodriguez]

Could you do a video for Prop Firms and setting up your business for Prop Firms and in Prop Firms how to do it? Or just “Tips” on it.

Unless you have a video on it already but I couldn’t find one.

[bagboy_Billy]

Black men teach wealth I love …four years ago it was so lonely and confusing…glade you guys showed up