I am new guy over here and I have a quick question about taxes. I live in the USA and I was wondering what most of you guys were doing to minimize the amout of taxes you were paying on the income you generate from FOREX trading. One friend of mine advised I set up a partnership with my wife and treat it as a business. I am open to any advise. 
Sounds like good advise initially. Further down the road you might look into tax havens where your looking at 0-10% income tax and zero capital gains. By that time you can afford a good tax lawyer. 
Regardless, you should always treat Forex as a business. As far as incorporating or anything to that extent, that shouldn’t be necessary at all. Filing for a LLC or running it as a sole proprietorship, should be more than sufficient if you’re only trading your own money.
Thanks for the info guys.