Hello all I’ve been posting on different forums in search of a mentor. My strategy is solid and I’m profitable. I’m looking for business mentorship as a trader. Types of things I’m looking to navigate are filing taxes, using profits under LLC, write-offs, get more funding, etc.
Thanks in advance.
Hi,
I am not sure you need a business mentor as a trader.
A business mentor in trading is an experienced individual who provides advice, guidance, and support to another person who is trying to improve their skills and performance in trading, typically in the context of financial markets such as stocks, commodities, currencies, etc.
It may be that what you need is an accountant to file your taxes in your jurisdiction of residence.
It would be a good idea to consider your overall life plan as a superset of your successful trading pursuit, and ask yourself what you are doing and why are you doing it. If trading is all you do, you could ask your accountant how you may tax-effectively protect your financial future by diversifying out of trading to create an income stream or two from unearned income (like real estate investment, precious metals savings, stocks) and if any of these offer tax mitigation from your primary source or sources of income.
There is nothing better that 2 diverse sources of income, except 3 or 4 or 5…
Thanks for the advice! Yup you’re right I’ll need a CPA for taxes and that’s not the only thing I’m looking for. See below:
I’m sure I’ll have more questions once the conversation gets going but these are just some. Ultimately I’m trying to get someone’s wisdom and experience that’s been handling the backend, streams, and licensing longer than I.
yes, it’s very clear from a careful reading of both your posts above that that’s among the things you seek
a couple of your questions above also need answers from a licensed, regulated accountant and/or lawyer in your jurisdiction (i’m guessing USA?) to be answered reliably
absolutely no disrespect or criticism implied at all, but Babypips, being a beginners’ forex-trading forum, is honestly far from being an appropriate place to seek helpful/reliable answers to most (maybe all) of what you’re asking
Let me start off by saying I appreciate your opinion. I seem to be the common denominator in the misunderstanding and I should’ve phrased my question differently. Agreed for the 2nd time a CPA is needed. That box is already checked.
I’ve posted this on few forums not just here. My thought process is experts designed this site (so there’s some here) and personally I (an experienced trader) come here to help beginners/intermediate traders with psychology, strategy, risk management, etc. So it was a 50/50 shot that someone I’m looking for would see this.
No worries didn’t take your post as disrespectful and I did take it as positive criticism which I’m not sensitive to. Hopefully my post(s) aren’t coming off rude either.
I’ve heard from people that I would consider smart on YouTube, they pay people, sometimes even $20,000 for 6 hours of consultation to get all the stuff they need answered it seems like they are always very proud to have done things like that because it was something that helped accelerate them.
Perhaps you’ll have similar luck finding someone you can pay to get results if you go scouting in your local neighborhood if you network at your chamber of commerce.
That’s a great idea and I don’t know why I didn’t think about that from the jump. I have a friend that’s part of the local small business group where I live. See if I can join and start picking brains there. Thank you.
This is what I love about forums, and I have found Babypips to be almost unique in providing (in the main) useful feedback to old and new members. I am sure that for all of us, if we all knew perfectly how to phrase a question in the first place, we may not have asked the question in the first place. I think you are a brave member to ask the question in the first place, as I am sure you are speaking for hundreds of silent members who are too shy to ask, or do not wish to appear unknowledgeable. You have already sparked interest in this important subject. Please continue to ask more questions. Welcome.