What tax issues are of most concern to new start-ups?
For all of you start-ups out there what are those tax questions that seem most pressing? I'm curious what is on the mind of most start-ups in the area of taxes and payroll.
For the most part, tax isn't a huge consideration for starting something, at least not on par with the risks taken like startup investment, opportunity cost, etc.Disclaimer: The following is in no way professional tax advice. Get help from professionals!!!Proper setup for payroll and employment taxes and withholding are essential, so get advice from the proper payroll and benefits folks before day one. We recommend a few on our mail blog at www.trueventures.com/blog.
For Founders, get great counsel before you start. The biggest issue for you is marking the basis for your stock day one. Usually this is done with an 83(b) election, and it's essential that you do this asap, as the window is only 6 months (i think, professionals chime in), from inception.
Lastly, if you're selling goods and services online, sales tax and nexus issues are important. Consult your attorneys.
For Founders, get great counsel before you start. The biggest issue for you is marking the basis for your stock day one. Usually this is done with an 83(b) election, and it's essential that you do this asap, as the window is only 6 months (i think, professionals chime in), from inception.
Lastly, if you're selling goods and services online, sales tax and nexus issues are important. Consult your attorneys.
