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Forum - Help - Can I open an LLC to manage my own stock trading, options, etc?

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Author Topic - Can I open an LLC to manage my own stock trading, options, etc?
Posted By:
Finnell
28th Mar 2022 12:40am GMT

If you highly leverage yourself and enter into the red where you end up owing money to the brokerage, would it be possible to just bankrupt the LLC and escape your obligations without them coming after your other assets?

 

Posted By:
MrHarun
31st Mar 2022 10:59pm GMT

I appreciate you writing up something to help people not familiar with the topic, but I feel that you're glossing over the limited liability protection and other aspects. And this $100k in profit line is totally made up. Plenty of people who "make" $50-60k (or even no profit) in their business should know how to form an llc in new jersey. If you're in a low-cost LLC jurisdiction, get an LLC. Full stop. The limited liability protection is not going to be absolute, of course. But as long as it's not costing you an arm and a leg, it's best to just start with the LLC. Many states cost < $100 per year for the LLC.

Posted By:
Petergoff
3rd Apr 2022 11:52am GMT

An LLC is a limited liability company, a legal entity, also a business structure that’s created by state law. An LLC can be used to run a business, or it can be used to hold assets such as real estate, vehicles, boats, or aircraft. The owners of an LLC are called members, an LLC can be owned by one person, called a single member LLC, or an LLC can be owned by two or more people, called a multi-member LLC. The LLC is created by the filling LLC information documents with your state and paying the filing fee. Why would you form an LLC? The number one reason is for asset protection. By forming an LLC you create a protective wall between your business and your personal assets.

 


 
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