Common First-Time Founder Mistakes with Becki DeGraw | Wilson Sonsini Startup Legal Basics

Podcast Notes Playlist: Latest Episodes

English - April 04, 2021 00:00 - 29 minutes - 13.7 MB - ★★★★ - 72 ratings
Business Health & Fitness podcast notes podcastnotes playlist Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: #522: Will Clemente on Bitcoin Analytics

Next Episode: #96 — Nutrition's Impact on Mental Health — Dr. Uma Naidoo

This Week in Startups with Jason Calacanis

Podcast Notes Key Takeaways The Four Biggest Mistakes Founders Make1. Missing out on 83(b) tax elections2. Thinking they own the company when they don’t3. Waiting until funding before setting up the company structure4. Incorporating as an LLC first instead of as a corporationAn 83(b) tax form must be filed by a founder within 30 days of purchase of the stockThe Board of Directors issues approved stock and a founder must BUY stock to own the companyThe switch from LLC to an INC is messy – there are lots of tax and legal issuesRe-upping founders means giving the founders another round of shares to keep their ownership share the same and to counter dilutionBut some say it’s not fair to other shareholders

Read the full notes @ podcastnotes.org