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Startup Tax Tips and Triage – Employee Gifts

Stephen Day Tax Planning, Tax Strategy

Startup CEO: Happy holidays! Startup Code Head: Thanks, boss. A gift card for $24.99… what gives? Startup CEO: More than that and you’ll get taxed on it. Startup Code Head: Who knew? Thanks! VPTax: Technically, $25 would have been OK. But any more than that and the “gift” turns into taxable compensation. Sure, it’s nice to give. But it’s nicer …

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Startup Tax Tips & Triage – Convertible Debt

Stephen Day Corporate Tax, Tax Planning, Tax Services, Tax Strategy

Investor: I’m in! But let’s do it with convertible debt. Startup CEO: But we get the money, right? Investor: Of course, this is just a way to manage risk and keep things flexible. Startup CEO: Cool! When do we get the money? VPTax: Not so fast. Although convertible debt is on occasion a preferred way to secure outside investment there …

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What California Pre-revenue Companies Need to Start Now to Preserve State Net Operating Loss Carryforwards

Tom Brehmer Income Tax, Tax Planning, Tax Services, Tax Strategy

If you are a pre-revenue CA domiciled company with employees in other states, you need to sell something before December 31, 2016. Not sure what to sell? Keep reading… Last week, I went to battle with Big Accounting over the reporting of California net operating loss (NOL) carryforwards. My client has one office… in CA; has 98% of its employees …