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EDUCATION CENTER
INTERACTIVE: GTT MESSAGE BOARD
Proprietary Trading
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Tax issues if working for a proprietary trading firm
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sf1000
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stranger
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Reged: 03/20/10
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Posts: 1
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Employee Status
#725 - 03/20/10 08:06 AM
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I am a trader with a proprietary trading firm structured as a LLC. I understand that, being categorized as a class B member in the LLC, I will be issued a K-1 which I will then use to file taxes as a self employed individual. However, going by IRS form SS-8, it seems like the traders at the firm should be classified as employees. Is it possible that some firms are wrongly classifying traders as members versus employees by making them sign an agreement? What steps can be taken to prevent/rectify such industry practices? Thank you.
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Re: Employee Status
#730 - 04/01/10 02:08 PM
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Haven't seen this issue come up before and we can take a look at it.
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Robert A. Green, CPA & CEO
GreenTraderTax.com
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