Tokyo Joe's Cafe / Societe Anonyme/No Pennies Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: r. c. cummings who wrote (58921)	2/28/1999 2:11:00 PM
From: LFISKY	Read Replies (2) of 119973

Randall, I don't think it is the number of trades that make a difference. The question is , is what you are doing a trade/business or an investment activity. In other words, do you have a job or profession other than trading, or is trading your business? If trading is your business you can probably establish an "investment company." However, if you have another job you will have a hard time convincing the IRS that your investments are your business. Remember though that on schedule C you will have to pay 15.3% in self employment tax plus your regular income tax rate if you have a profit. Whereas capital gains are taxed at a maximum of 28%. You can deduct investment expenses (over 2% of AGI) on schedule A if you itemize. Hope some of this helps. Let me know if I can explain anyting further.

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