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Hey folks, I have a portfolio of stocks in a personal eTrade account (my own name). And I also own an LLC that is authorized to use eTrade brokerage for securies trading, capital growth.

I know that I can transact trades in the Business LLC just like I do in the personal account. I also know to keep them 100% separate for liability purposes.

I'm assuming (and you know what that means!) that taxes on profits, and credits for losses, are pretty much handled the same since my LLC is a pass-thru sole owner charter.

Does anyone have any direct experience with this, or know of a good resource where I can do some additional research? I want to run a sizeable portfolio in the LLC account - but not if the taxes are overly complicated or end up costing me money.

Mike M

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No. of Recommendations: 5
Why would you want to leave excess money in the LLC? That just leaves those assets available to any creditors of the LLC and ruins much of the limited liability you get with the LLC.

It also doesn't protect those assets from YOUR creditors. Since you are the sole owner of the LLC, a creditor could just take your ownership interest and get the assets in the LLC.

The only assets in your LLC should be the ones needed for the business of the LLC. And if you have an LLC but no business you're running, you don't need an LLC. Dissolve it.

--Peter
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