Hello members of the forum, respected Traderji, et al,
I have amassed a small fortune (around 70 lakhs - started with negative 9 lakhs) from trading and i basically live of it - make my capital appreciate around 50-70% every year, and getting more experienced with time. I'm 21, i dont have a job - trading is my job, and i know this is my life's calling. im now engaged, got a flat, got things really well set-up - well life's good. i now hire an accountant, got things setup in a small office in the building i live in - always losing the battle for perfect accountancy - but handle it good.
I really feel now I'm ready to stop doing my trading on my personal name, and establish a company. My family is a business family, and so the whole bureacratic bull will be easy to get through... setting up will be an easy task. an office sublet from my family is no problem. i feel having the dual structure of my personal finances and a co. to deal with will make life so much simpler with money. plus buying things like a car, holidays, etc can be done through the co., with me drawing a salary from the co., and issuing dividends from time to time. I feel it would be a more tax-friendly, efficient, and growth-oriented way of working. also it will be a great opportunity for me to branch out into other finance-related areas, like handling ppl's money (too many requests!), inter-corporate loans, and venture-capitalisms. it will also enable me to pursue my dream of having warren buffet like hold on cos. in the long run
anyone, who knows anything about such a concept of a trading company, or any related items, or just want to give their view-points, please post it to me. Hungry for any moral support and backing, and criticisms, flaws, or points of concern. Any views on taxation structure will also be welcome!
Please contribute to the thread, will make a world of difference for me,
Thanking you,
sincerely,
shorttermer
I have amassed a small fortune (around 70 lakhs - started with negative 9 lakhs) from trading and i basically live of it - make my capital appreciate around 50-70% every year, and getting more experienced with time. I'm 21, i dont have a job - trading is my job, and i know this is my life's calling. im now engaged, got a flat, got things really well set-up - well life's good. i now hire an accountant, got things setup in a small office in the building i live in - always losing the battle for perfect accountancy - but handle it good.
I really feel now I'm ready to stop doing my trading on my personal name, and establish a company. My family is a business family, and so the whole bureacratic bull will be easy to get through... setting up will be an easy task. an office sublet from my family is no problem. i feel having the dual structure of my personal finances and a co. to deal with will make life so much simpler with money. plus buying things like a car, holidays, etc can be done through the co., with me drawing a salary from the co., and issuing dividends from time to time. I feel it would be a more tax-friendly, efficient, and growth-oriented way of working. also it will be a great opportunity for me to branch out into other finance-related areas, like handling ppl's money (too many requests!), inter-corporate loans, and venture-capitalisms. it will also enable me to pursue my dream of having warren buffet like hold on cos. in the long run
anyone, who knows anything about such a concept of a trading company, or any related items, or just want to give their view-points, please post it to me. Hungry for any moral support and backing, and criticisms, flaws, or points of concern. Any views on taxation structure will also be welcome!
Please contribute to the thread, will make a world of difference for me,
Thanking you,
sincerely,
shorttermer