A few of my friends and I plan to pool in a fixed amount of money each month and invest in the stock market each month. For this purpose, we want to setup a company in order to be able to correctly channel each person's taxes.
Furthermore down the line, we plan to invest in purchasing real estate which will be purchased through this entity.
What would be the best for for corporation/partnership to suit my purpose?
2006-10-22 13:54:50 · 1 answers · asked by quarrters 1 in Business & Finance ➔ Investing
You can make this as complex as you like, and hire as many lawyers, but in the beginning, you might find it easier just to pool your money and draw up agreements between yourselves.
There are no licenses necessary, or agreements for that matter, as long as the pool value is under a certain amount, about $250,000 in my state. I can have up to 12 people in my pool without registering anything. Currently I have 3 people in one pool to trade Forex, and four in another to trade index futures.
You are presuming you will have profits. Whatever, when you begin to have profits after several months, then is the time to worry about taxes; of course, a problem we all want to have.
2006-10-22 14:55:36 · answer #1 · answered by dredude52 6 · 0⤊ 0⤋
I'd start an investment "club" you get move favorable tax treatment.
2006-10-22 14:33:33 · answer #2 · answered by Alex F 2 · 0⤊ 0⤋