How are Taxes handled on my earnings?
TradeShield Staff
Last Update vor 7 Monaten
1. If you're a US citizen or living in the US as a resident alien, you'll need to fill out a W-9 form. Once your are funded, we will email you this form.
2. For non-US citizens living outside the country, you should complete a W-8BEN form.
3. Traders working with TradeShield, LLC are seen as independent contractors, not employees.
4. Income from a funded account should be reported as regular earnings, with trading profits only counted when withdrawn.
5. Setting up a funded account can be done using a personal account. However, if you want to receive payouts to your company name, we require you to provide your LLC or S-Corporation formation documents.
6. If you're a US citizen and receive over $600 in payouts from TradeShield, LLC in a year, you'll get a 1099-NEC form.
7. Regarding reporting earnings to other countries, TradeShield, LLC doesn't provide guidance or documents.
It's best to follow your country's tax rules and seek advice from professionals if needed.
Feel free to open a Support Ticket if you need more assistance!