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Unfortunately, I still haven't been able to get a straight answer on how this applies to founders (versus investors). What about co-founders contributing time o
by idive 16y ago
Unfortunately, I still haven't been able to get a straight answer on how this applies to founders (versus investors). What about co-founders contributing time or IP instead of cash?
Previous discussion here: http://news.ycombinator.com/item?id=1972515 http://news.ycombinator.com/item?id=1972515 and http://news.ycombinator.com/item?id=1555363 http://news.ycombinator.com/item?id=1555363 and probably several others
- janj 16y agoI met with George Grellas at Grellas & Associates yesterday about exactly this, it's potentially a huge benefit for founders, I believe it does require some small cash amount along with IP. I am in the process of creating an entity through Grellas & Associates and was going to pay extra to have the process expedited to take advantage of this tax benefit that I believed expired at the end of this month. Can someone please confirm that this has been extended through 2011 or provide a link? I haven't been able to find anything.
- Multiplayer 16y agoHere is a link to a PDF summary. Now just waiting for the President to sign it. http://tax.cchgroup.com/downloads/files/pdfs/legislation/bush-taxcuts.pdf http://tax.cchgroup.com/downloads/files/pdfs/legislation/bus... I have spent a lot of time on this over the past few weeks. I'm amazed at how few CPA's actually understand this legislation.
- Scott_MacGregor 16y agoWithout having any guideline to go by, as far as the small cash amount, logically (not that the real life application of tax laws by the IRS is logical) it seems like paying PAR value in cash would cross that hurdle.