In this episode of the NASPP Equity Expert Podcast, we are joined by Jonathan Fish, the CEO and co-founder of Cap Gains. Jonathan brings his extensive experience as a CPA and public accountant, focusing primarily on venture funds and private equity funds. He shares insights into the world of Qualified Small Business Stock (QSBS), a powerful tax incentive that can offer 100% capital gains tax savings.The key points of this episode include:Introduction to QSBSUnderstanding QSBS and its benefitsHistorical context and changes over timeImportance for venture funds, entrepreneurs, and early employeesCorporate and Shareholder Level RequirementsRequirements at the corporate level, such as being taxed as a C Corp and having less than $50 million in gross assetsShareholder requirements, including original issuance of stock and a five-year holding periodCommon pitfalls and misconceptions around QSBS eligibilityNavigating QSBS Regulations and IRS AuditsThe role of private letter rulings from the IRS in determining qualified trades or businessesPotential complications from actions like stock redemptions, S elections, and exceeding asset thresholdsRecent changes in tax legislation affecting QSBS, such as the capitalization of R&D expensesMarket Trends and AwarenessThe impact of market liquidity and legislative changes on the popularity and understanding of QSBSStrategies for maintaining eligibility and maximizing benefits, including the Section 1045 rollover provision for gains reinvestmentAdditional Resources:Founders, Unlock Big Tax Savings with Qualified Small Business Stock (QSBS)Support the show

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