News & Analysis as of

Startups Internal Revenue Service

The Gig Economy, Independent Contractors, and New York Law

by Mintz Levin - Mintz Edge on

The gig economy (on-demand work) is a disruptive factor in many industries, including the housing market (Airbnb, Homeaway), transportation services (Uber, Lyft, Juno, Via), delivery services (Postmates, Caviar, Instacart),...more

Forming a Tax-Exempt Section 501(c)(3) Corporation

Although startups are traditionally for-profit ventures, the same principles used to launch a successful startup also apply to the formation of philanthropic enterprises. Generally when people discuss nonprofits, they...more

Keeping Your Team Motivated: A Profits Interest as an Equity-Based Incentive

by Varnum LLP on

Say you own one-half of an LLC that is taxed as a partnership. You and your partner invested the initial capital that was necessary to get the business up and running, and you both built the business with the help of a few...more

New Rules on Section 83(b) Elections

Prior to a recent change, in order for a Section 83(b) election to be effective, the taxpayer had to: - File the Section 83(b) election within 30 days of the receipt of restricted property (typically, restricted stock)...more

It’s a Wonderful Life – Or is it? The Taxation of Crowdfunding

by Strasburger & Price, LLP on

Every holiday season, I, like many other Americans, watch Frank Capra’s classic, It’s a Wonderful Life. While the movie has a number of iconic scenes, the most heartwarming scene occurs at the end, as the citizens of Bedford...more

Free Resources for Irish and Northern Irish Companies Forming US Affiliates

I’ve written several times (Minimizing ‘Alter Ego’ Risk for Irish and Northern Irish Parents of US Affiliates; and Effectively Using a Lightning Rod) about the need for Irish and Northern Irish companies to form a formal US...more

Just Because You Say It, Doesn't Make It So

by Foley & Lardner LLP on

Many companies in the technology industry pay workers as “independent contractors” or “1099 workers.” In theory, classifying individuals as independent contractors rather than employees can bestow significant economic...more

Homejoy’s Shutdown, Due to Misclassification Lawsuits, Likely to Propel Tech Start-Ups to Enhance Their Independent Contractor...

by Pepper Hamilton LLP on

Earlier Friday, it was reported by Carmel DeAmicis of re/code that Homejoy, the home cleaning start-up that uses independent contractors as their home cleaners, was closing down its operations due to four misclassification...more

Using Your IRA to Buy a Business: Still a Risky Strategy

I blogged in the past about decisions in which taxpayers have used assets in their IRA to finance a new business. This structure is sometimes known as a ROBS or rollover for business startups. In 2013, the tax court held that...more

$228 Million: The Cost of Independent Contractor Misclassification for FedEx Ground in California

by Pepper Hamilton LLP on

Yesterday, June 12, FedEx announced in papers filed with the SEC that its Ground Division “has reached an agreement in principle with [drivers] in the independent contractor litigation that is pending in …California [federal...more

IRS Provides Temporary Enforcement Relief for Small Employers Offering Employer Payment Plans

by Franczek Radelet P.C. on

The IRS issued guidance providing enforcement relief through June 30, 2015 for small employers who offer employer payment plans to their employees. In the guidance, the IRS reiterated its stance that an employer payment...more

Life Cycle Of A Company – Choice Of Entity And Key Contents Of Organization Documents

by Jackson Walker on

I. GENERAL. A. Introduction. In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation •...more

Startup America Suggestion of the Day: Repeal Section 409A (Installment 5)

by Davis Wright Tremaine LLP on

Many of us here in startup land are hoping that the President’s Startup America Initiative is for real. For me, success means that the initiative will meaningfully simplify the legal and regulatory landscape in which startups...more

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