Open question to all:
I, or the hypothetical TSP member, used the proceeds elsewhere and has already used up his/or her one-time opportunity to use the 59.5 one-time witdrawal to invest the TSP proceeds in an IRA, at a brokerage account such as Scottrade, Ameritrade, etc. A ROTH IRA is precluded due to current income. The TSP official website showed the loan interest rate today as 1.625%.
The proponent member understands (also ignores other options) that the only possible option would be to make a loan based on the TSP balance (or a part thereof) and to open an investment brokerage account with a discount broker, in order to be able to follows a successsful trading system, trading indexes, ETFs and shorting stocks; and buying/or selling options.
A few initial goals:
1- to avoid being taken to the laundry by unscrupulous attorneys and/or accountants.
2- learn to prepare a system that any accountant can understand, so that the accountant can prepare the correct profit or loss statements for the yearly IRS Tax return.
3- To make the best use of tax avoidance, and avoiding tax evasion at all times.
4- Determine what would be a minimum amount that the trading account would need to start trading effectively.
(Example: Would 20,000 dollars be sufficient to start? Trading costs such as 7 dollar transactions and other costs must be approximately estimated before projecting gains or profits (or maybe not?).
Additional question, is it legally permissible to use a general purpose business corporation or LLC, in order to avoid some of the tax impact?
A very warm thank you, in advance, for the help that the members of this thread may provide to me. I do need your help.
airlift
I, or the hypothetical TSP member, used the proceeds elsewhere and has already used up his/or her one-time opportunity to use the 59.5 one-time witdrawal to invest the TSP proceeds in an IRA, at a brokerage account such as Scottrade, Ameritrade, etc. A ROTH IRA is precluded due to current income. The TSP official website showed the loan interest rate today as 1.625%.
The proponent member understands (also ignores other options) that the only possible option would be to make a loan based on the TSP balance (or a part thereof) and to open an investment brokerage account with a discount broker, in order to be able to follows a successsful trading system, trading indexes, ETFs and shorting stocks; and buying/or selling options.
A few initial goals:
1- to avoid being taken to the laundry by unscrupulous attorneys and/or accountants.
2- learn to prepare a system that any accountant can understand, so that the accountant can prepare the correct profit or loss statements for the yearly IRS Tax return.
3- To make the best use of tax avoidance, and avoiding tax evasion at all times.
4- Determine what would be a minimum amount that the trading account would need to start trading effectively.
(Example: Would 20,000 dollars be sufficient to start? Trading costs such as 7 dollar transactions and other costs must be approximately estimated before projecting gains or profits (or maybe not?).
Additional question, is it legally permissible to use a general purpose business corporation or LLC, in order to avoid some of the tax impact?
A very warm thank you, in advance, for the help that the members of this thread may provide to me. I do need your help.
airlift
