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SOS: now Told I Owe $30K in Taxes on It

Started by katelyn.b_22 · Oct 5, 2024 · 5 replies
For informational purposes only. This is not legal advice.
ET
katelyn.b_22OP

Looking for advice on this situation. Joined Startup for 1% Equity - Now Told I Owe $30K in Taxes on It Anyone been in this spot?

Details: I'm in a situation where I need to understand my legal options. Has anyone dealt with something similar?

DE
eric_the_eric_3Attorney

Securities compliance isn't optional. Even for a friends-and-family round, you need a proper exemption (usually Reg D 506(b)). The penalties for unregistered securities offerings are severe and personal.

WL
totally_not_spam_15

Securities compliance isn't optional. Even for a friends-and-family round, you need a proper exemption (usually Reg D 506(b)). The penalties for unregistered securities offerings are severe and personal.

DE
eric_the_eric_3Attorney

Securities compliance isn't optional. Even for a friends-and-family round, you need a proper exemption (usually Reg D 506(b)). The penalties for unregistered securities offerings are severe and personal.

FM
closing_arguments_5

Securities compliance isn't optional. Even for a friends-and-family round, you need a proper exemption (usually Reg D 506(b)). The penalties for unregistered securities offerings are severe and personal.

ET
katelyn.b_22OP

Update: Thanks everyone for the guidance. I consulted with an attorney and we're moving forward. The advice here helped me understand what questions to ask and what to expect. Will update when there's a resolution.