RE: [CANSLIM] Deduction Subject to 2% Limit

From: "marcf" <marcf@erols.com>
Subject: RE: [CANSLIM] Deduction Subject to 2% Limit
Date: Thu, 24 Jul 2003 07:27:52 -0400

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Just a thought

Form a LLC or a Corp. and everything is deductible.

Of course you will have a separate tax return for that entity!

Marc





Marc Fournier
marcf@erols.com <mailto:marcf@erols.com>

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- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Charles & Lois
Layne
Sent: Wednesday, July 23, 2003 9:51 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Deduction Subject to 2% Limit



- ----- Original Message -----
>
> Thank you very much.  As you said the IRS believe a trader MUST have
> substantially income from his /her trading income in comparison of other
> incomes.  Thus I think there will be no hard number for average holding
> period.  The average holding period is secondary criteria.   If there is
> a hard number, then the Warren Buffett will never be a trader as he
> holds positions for years.
>

And that's true... Mr. Buffet is not a trader... or at least a trader in
securities as the IRS puts it.  He may be more of a mutual fund... I have no
idea what their tax treatments are.


Chuck Layne




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