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NEED a lawyer / accountant’s help please!
A year ago I began working with this rich guy where I’d day trade using his account. We had an agreement to split the profits on a monthly basis. However, after the first month, I found out that in order for a person to legally accept money in return for trading / investment advice, they need to have licensing and be registered with the SEC, which I am not.
My first thought was getting the money gifted. In the US, I read you can gift up to 13 mil to anyone you want within your lifetime.
Can any lawyer / accountant tell me if this is allowed? Will it be investigated? Instead of giving me all the cash lump sum, what if they gift it in monthly increments or Smth? I know my flag says Canada but all trading was in America while I was there. Just here for a few days.
A year ago I began working with this rich guy where I’d day trade using his account. We had an agreement to split the profits on a monthly basis. However, after the first month, I found out that in order for a person to legally accept money in return for trading / investment advice, they need to have licensing and be registered with the SEC, which I am not.
My first thought was getting the money gifted. In the US, I read you can gift up to 13 mil to anyone you want within your lifetime.
Can any lawyer / accountant tell me if this is allowed? Will it be investigated? Instead of giving me all the cash lump sum, what if they gift it in monthly increments or Smth? I know my flag says Canada but all trading was in America while I was there. Just here for a few days.
