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i am on disability, i want to form a corporation so i can open a trading account for stocks and futures trading and not have the income affect my benefits i think a c corporation is best i know there is double taxation if i take money from the corp to my person , so the money can for the most part stay in the company ,but that's not all, my family owns a farm that i will inherit some day since i am on medicaid they can tax my inheritance so if the corporation inherits it is that possible or can i put it in anther corp or llc
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You should consult with an attorney who specializes in disability law. There are complex planning issues involved here and it may be appropriate to conduct your trading in some other vehicle, such as a special needs trust. See an attorney.
Answered on Dec 13th, 2012 at 5:52 PM