Are there any necessary legal steps to establishing an investing and trading group at school?
I am starting an investing and trading club at my high school. We plan on having the members of the group invest real money in stocks of different companies and trade, and hopefilly come out with a profit. Since there are a number of investors, would we have to establish outselves as some type of partership for tax reasons? What is the best way to go about this?
You’re going to have to get the school to sponsor it. Usually investment clubs are formed as partnerships. I doubt if you’re going to be able to personally profit from this. Its probably going to have to be set up as some kind of fund which the students manage and the profits go to some cause in the school or a charity. Many universities let their finance students manage a portion of their endowment.