Corpora

"I'm not a U.S. taxpayer. Should I still file an 83(b) election? If so, how?" We get this question asked a lot. Here's a breakdown. 👇 ⏰ 𝗪𝗶𝗹𝗹 𝘆𝗼𝘂 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮 𝗨.𝗦. 𝘁𝗮𝘅𝗽𝗮𝘆𝗲𝗿 𝗱𝘂𝗿𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘀𝗰𝗵𝗲𝗱𝘂𝗹𝗲? The typical vesting schedule in tech startups is four years. That's a long time. If at any point during that period there's a chance you may be subject to U.S. taxes, it's a good idea to file an 83(b) election while you have the chance (30 days from getting your equity). 🇺🇸 𝗛𝗼𝘄 𝗰𝗮𝗻 𝗜 𝘁𝗲𝗹𝗹 𝗶𝗳 𝗜'𝗺 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲 𝗮 𝗨.𝗦. 𝘁𝗮𝘅𝗽𝗮𝘆𝗲𝗿? The obvious scenario is becoming a U.S. resident. For instance, if your company is arranging your relocation stateside, then becoming a U.S. taxpayer isn't too far off. Alternatively, becoming a U.S. citizen or permanent resident will also kick in taxpayer duties. 💳 𝗜 𝗱𝗼𝗻'𝘁 𝗵𝗮𝘃𝗲 𝗮 "𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿 𝗜𝗗" 𝘁𝗼 𝗶𝗻𝗰𝗹𝘂𝗱𝗲 𝗼𝗻 𝗺𝘆 𝟴𝟯(𝗯) 𝗲𝗹𝗲𝗰𝘁𝗶𝗼𝗻. If you're eligible to apply for an ITIN (individual taxpayer identification number), write "Applied for" and apply for the ITIN. Otherwise, write "N/A", "Foreign individual", or "nonresident" instead. 🖊 𝗪𝗮𝗶𝘁, 𝗜𝗧𝗜𝗡? 𝗜 𝗵𝗮𝘃𝗲 𝗮𝗻 𝗜𝗧𝗜𝗡. 𝗦𝗵𝗼𝘂𝗹𝗱 𝗜 𝗶𝗻𝗰𝗹𝘂𝗱𝗲 𝗶𝘁? Yep! It'll help the IRS associate your 83(b) election with your file. 📫 𝗪𝗵𝗲𝗿𝗲 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗳𝗶𝗹𝗲 𝗺𝘆 𝟴𝟯(𝗯) 𝗲𝗹𝗲𝗰𝘁𝗶𝗼𝗻? International residents should mail the form to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA 🚅 𝗙𝗲𝗱𝗘𝘅/𝗨𝗣𝗦/𝗗𝗛𝗟 𝗰𝗮𝗻'𝘁 𝘀𝗲𝗻𝗱 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀 𝘁𝗼 𝘁𝗵𝗮𝘁 𝗮𝗱𝗱𝗿𝗲𝘀𝘀. 𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗱𝗼? For private delivery services, use this address: Department of the Treasury Internal Revenue Service 3651 S IH35 Austin, TX 78741 USA 🌍 𝗜𝗳 𝗜 𝗹𝗶𝘃𝗲 𝗮𝗯𝗿𝗼𝗮𝗱, 𝗵𝗼𝘄 𝗰𝗮𝗻 𝘁𝗵𝗲 𝗜𝗥𝗦 𝘀𝗲𝗻𝗱 𝗯𝗮𝗰𝗸 𝗮 𝗱𝗮𝘁𝗲-𝘀𝘁𝗮𝗺𝗽𝗲𝗱 𝗰𝗼𝗽𝘆 𝗼𝗳 𝗺𝘆 𝗳𝗶𝗹𝗶𝗻𝗴? Here's where it gets tricky. The IRS won't FedEx you back your date-stamped copy; you have to rely on the U.S. Postal Service. You can: • Include a return envelope with enough USPS postage for an international trip back. • Have the date-stamped copy sent to a friend's U.S. address. 😬 𝗜𝘀 𝘁𝗵𝗲𝗿𝗲 𝗮𝗻 𝗲𝗮𝘀𝗶𝗲𝗿 𝘄𝗮𝘆 𝗼𝗳 𝗱𝗼𝗶𝗻𝗴 𝘁𝗵𝗶𝘀? There is. Check out our product, Corpora – we'll take care of the entire process for you end-to-end, including sending your documents to the IRS and getting back your date-stamped copy. 🤔 𝗜 𝘀𝘁𝗶𝗹𝗹 𝗵𝗮𝘃𝗲 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀. 𝗖𝗮𝗻 𝗜 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝘁𝗼 𝘆𝗼𝘂? Absolutely! Whether you end up using our product or not, we're always happy to help to make sure you get this critical filing right. 📣 Have you filed an 83(b) election from abroad? What was the experience like? Any tips you'll add for fellow filers? #83b #ifiledmy83b P.S. This post isn't legal advice and sacrifices detail for simplicity.

Next week, I'm putting my lawyer hat on to talk all things startup law in this Carta Community + Corpora virtual event! Whether it's formation, fundraising, equity, hiring, contracts, IP – or, yes, 83(b) elections – we'll be going deep into the issues that bug startup founders over and over again. Thanks a lot to Chris for recommending me and to Brent for the invite! We're meeting on Tuesday, August 6, at 10am PT on the Carta Community platform. Make sure you sign up (link in the comments 👇 ) and tell a founder friend. Till then!

📣 Big news from Corpora. Moving forward, we're focusing on 83(b) elections. Since launching this product, we've earned the trust of individuals and companies from around the world to handle this time-sensitive document. And to do so for a fraction of the cost that it would otherwise take for them to do it on their own: time-wise, financially, and mentally. The secret to gaining this trust is... there is no secret: we treat your 83(b) election as if it were for our own stock in Corpora. 🔹 Placed the order on Sunday night? We're sending it out on Monday. 🔹 Your tracking number isn't getting updates? We open a case with USPS. 🔹 There's something off in your election? We give you a courtesy heads-up. 🔹 What if the IRS misplaced your document? We give you bulletproof evidence that will withstand trial. We know how important this document is for you. We know that the tolerable margin of error is zero. We know that messing this up could cost you your dream. And so, when you trust us with your most sensitive information to handle one of the most consequential documents you'll ever file... We deliver. Corpora already offers the best product on the market for 83(b) elections, accessible to anyone from anywhere in the world. And it's only going to get better. Stay tuned.

Filing an 83(b) election on your own can easily take over 5 hours of your time. With file83b.com, it's "click, click, done". 1. Draft your 83(b) election electronically. 2. Double-check to make sure it's all correct. 3. Sign online. And then sit back and track the progress. We’ll take care of the rest for you. We’ll mail your election to the IRS. We’ll let you know once it’s mailed, once it’s delivered. And also provide you with the date-stamped copy of your election once we receive it back from the IRS. Learn more and file your election at file83b.com. #83b #startups #founders #rsa

A co-founder fallout can be extremely detrimental. It's frequently flagged as one of the main reasons startups fail. In this article Stepan Khzrtian explores the questions to ask and answer to align with your co-founder. #startupfailure #startupsuccess #founders #buildingbusiness #businessandmanagement #techentrepreneurs #business #startups #techstartups #saasstartups #startupfounders #entrepreneurship #entrepreneurs #businessgrowth #startupchallenge #startupgrowth #startupstrategies #startupsuccess #growthstrategy #expertadvice #earlystagestartups #scaleups #startupjourney #startupfunding #startupfinance #scalingup #scalingbusiness #organizationalleadership #businessadvice #founderstories #leadershipadvice #management #economy #leanstartups #founderjourney #startuptips #startingabusiness #cofounders #salary #stockoptions #esop #foundersguide #compensation #benefits #shares #fundraising #seedcapital #seedround #seedfunding #preseed #startupemployees #bestpractices #expertadvice

"How do I get things started with a cofounder?" This is a question I'm asked often – and one I love talking about at length, drawing upon my own experience of searching for a co-founder for almost two years. And so, when Mark asked about this for his own venture while we were beating the heat with iced lattes last week, I realized that this *had* to be the topic of the next post for "the founder memo", Corpora's newsletter. https://lnkd.in/gMsj8CF6 The highlight? 👉 A detailed list of questions to *definitely, absolutely, positively* talk about with your co-founder. 👈 And want to document it in a Founders Agreement after you do? You're covered there as well – I've linked the template version of the actual agreement Serop and I used, along with tips on if and when to use it. Any other cofounder tips come to mind? Comment below! ___________ 📣 Are you searching for a co-founder? Pitch your startup idea here!  Who knows... maybe that's how you find you future co-founder. #startups #founder #cofounder

Our Petition on the term "Nonlawyer" got some love during this thoughtful discussion about legal ecosystems: https://lnkd.in/gRqTaWtu

When I sat down to prepare for my podcast with Brian Liu, founder of LegalZoom, I noticed a recurring theme as I researched and wrote down the questions: Access to legal support. All the questions that came out onto that Google Doc were somehow related to helping people get better access to legal support, whether through technology, innovative business structures, or advocating for change. "Why don't we call this the 'Access to Justice' episode," I suggested to Brian. Turns out, he had a bone to pick with that term: it's interpreted as simply encouraging more pro bono work, which doesn't do justice (no pun intended) to the core matter – equal access to the law. He eventually offered another phrase which captures the spirit of what we cover in this episode, and which ended up as its title: Democratizing the Law. And so, here we are!  Dropping Episode 11 of the founder memo podcast by Corpora, covering an array of topics, including: * How legaltech has evolved over the past 25 years * The legaltech scene in the UK vs. U.S. * The U.S. legal system, legal education, and its impact on access to justice * Alternative business structures – effective in practice or only in theory? * Petition calling on the ABA to drop the term "nonlawyer" * Legal innovation without engaging in unauthorized practice of law * AI and the next 25 years of legaltech Check out the teaser below, and watch the full episode at: https://lnkd.in/dja3dUA8 Happy viewing! *** Brian Liu is the founder of LegalZoom.com. He served as CEO of the company for the first 7 years and remained as Chairman of the Board until 2018. Now, he’s onto his next legaltech venture – Overture.law, an attorney-to-attorney referral platform that aims to become the Ticketmaster of law.

Thrilled to be featured on the Legal AI map by Battery Ventures, along with many amazing startups changing the way law is practiced and accessed!

Founders – this is your friendly reminder to pay for your common stock if you haven't already. Not in IP. 💡 Not in services. 🛠️ But instead, in cash. 💸 Write a check. Wire the funds. Or, at the very least, have it deducted from your paycheck (yes, better late than never). So when time comes to raise that venture round, you have one less thing that can stall the process. Here's how to stress-test your stock issuance process to make sure you're solid. 👇 https://lnkd.in/gcT5AZeH #startups #founders #stock