my wife and I are share traders and will make about $ 125,000 in trading profits.
she had a job earning just over $ 8,000 this year as well.
she spends about 30% of her time in the share trading business and I do the other 70%.
can we divide the profit 30/70 = $ 37,500 to my wife and $ 87,500 to me
our trading capital is from a joint bank account
we dont have an established partnership agreement
we dont trade from a trust or company
would like to hear from a well-informed person; no guesses please