Forbes has published an article, “How Some Traders Double-Up On Retirement Plan Contributions,” which discusses the lawsuit between IRS and TOT Property Holdings LLC. The article begins as follows:
Profitable traders are keen on maximizing retirement plan contributions in trading activities and also in their full-time jobs. Traders are pros at investing, and they understand the power of tax-free compounding while saving for retirement. However, wages are required to make contributions to a retirement plan. Active traders eligible for trader tax status (TTS) can use an S-Corp structure to pay themselves the necessary wages.
Click here to see full article: “How Some Traders Double-Up On Retirement Plan Contributions.”
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.