On Tuesday, March 5, 2019 at 3:06:48 PM UTC-5, Rod Speed wrote:
wrote in message
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On Tue, 5 Mar 2019 20:30:00 +1100, "Rod Speed"
wrote:



wrote in message
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On Tue, 5 Mar 2019 13:03:12 +1100, "Rod Speed"


And with a sole trader self employed, THEIR TOTAL
TURNOVER IS THEIR GROSS INCOME, ****wit.

none of the rest of your even sillier **** worth
bothering with, all flushed where it belongs

That just means more SPs would form a type S corporation.
It is actually a pretty trivial thing to do. When I did it the lawyers
charged me a few hundred bucks.

It isnt that easy with the other ones that have a very high gross
income and a much lower income for income tax purposes.

What "Other ones"?

Most obvious with stock market speculators/day traders
and property flippers etc.

If you think you will have a business or tax reason to form an "S" you
can.

But not if its gambling or speculation.

What? More BS spewing from the hole of ignorance that you've dug?
You're like a black hole, sucking at everything, but spewing out crap too.
A subchapter S is commonly used for real estate, which can be speculation.
For example, buying condos in a new building on the hope that they will
be worth more next year. Buying a piece of land near a proposed new
big redevelopment, like buying property in NYC where Amazon was supposed
to go. speculating that the deal will go through. That blew up.
Can't do that with an S? WTF? Who says? They are frequently used for
trading stocks, day trading, which many would call speculation, it's
not investing, that's for sure. Australian troll, the new "expert" on
US tax code.