Setting up a corp to trade?
My friend and I have been trading for a while in our own respective non-reg accounts with decent success. We are now at a point where we want to take our trading to the next level, by combining our buying power, reducing costs, and reduce taxes. Our trading style if short-term. We are thinking about incorporating as the best way to do move forward. We both have full time jobs and this is something we would be doing on the side.
My friend is a contractor and has a corporation, he would be funding our joint account from his corporation and I would be funding it with my personal funds as I don't have a corporation. We are both based out of Canada (Ontario) and trade US stocks, we would primarily hold only USD in the account.
I'm hoping someone here can help share some information as the best way to move forward in terms of business structure, incorporating, etc.
Thank you,
My friend is a contractor and has a corporation, he would be funding our joint account from his corporation and I would be funding it with my personal funds as I don't have a corporation. We are both based out of Canada (Ontario) and trade US stocks, we would primarily hold only USD in the account.
I'm hoping someone here can help share some information as the best way to move forward in terms of business structure, incorporating, etc.
Thank you,