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The Complete Idiot's Guide to Active Trading by Ken Little

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Chapter 21
Tax and Legal Issues
In This Chapter
• Organize yourself as a business
• Taxes for traders
• Keeping records straight
• Organizing for success
The assumption of this book is that you plan to pursue active trading as a full-time career. You can certainly take some of the information from here and other sources to dabble at it part-time, but most active traders want to go full-time as soon as possible. Active trading, as we have seen, encompasses several strategies. The most intense strategies and those with the most promise for supporting you and your family require a full-time commitment.
You should start your active trading career the same way you would start a business—with legal and tax advisers on hand to make sure there are no missteps. ...

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