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The Himiway Cruiser Bike Review - readwrite

The Himiway Cruiser Bike Review

The Himiway Cruiser Bike is fun and a beauty to ride. I love bikes, have many different kinds of bikes, and I ride a lot. This is an all-terrain electric fat bike. You can overcome many obstacles on this bike, including gravel, mountain terrain, off roads, snow, and beach. It couldn’t be a better ride […] The post The Himiway Cruiser Bike Review appeared first on ReadWrite.
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Mediflash is a freelancer marketplace for health professionals - techcrunch

Mediflash is a freelancer marketplace for health professionals

Meet Mediflash, a new French startup that wants to improve temp staffing in healthcare facilities, such as nursing homes, clinics and mental health facilities. The company positions itself as an alternative to traditional temp staffing agencies. They claim to offer better terms for both caregivers and institutions. “It costs a small fortune to health facilities […]
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Owning the paycheck is the key to fintech success - techcrunch

Owning the paycheck is the key to fintech success

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week, Natasha and Danny, otherwise known as your two new favorite Book influencers (inside joke, you’ll get if you listen to the show), hopped on the mics to take everyone threw the news, with Grace and […]
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Tiger Global in talks to back BharatPe at $2.5 billion valuation - techcrunch

Tiger Global in talks to back BharatPe at $2.5 billion valuation

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Ford acquires Electriphi as it prepares to woo EV fleet customers - techcrunch

Ford acquires Electriphi as it prepares to woo EV fleet customers

Ford has two electric vehicles in the pipeline —  the E-Transit cargo van and F-150 Lighting Pro —aimed at commercial customers. Now, the automaker is rounding out its future EV commercial business with the acquisition of battery management and fleet monitoring software startup Electriphi. Terms of the acquisition weren’t disclosed. Ford is betting that the […]
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Delivery service Gopuff acquires rideOS for $115 million-plus - techcrunch

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On-demand goods, food and alcohol delivery service Gopuff has acquired fleet management platform rideOS for $115 million to $125 million, sources familiar with the deal say. This acquisition comes just a few months after the Philadelphia-based startup announced a $1.15 billion funding round at a $8.9 billion valuation, up from $3.9 billion in October. Last […]
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Podcasts are all the rage, but podcast discovery is a challenge. Today, Spotify announced its acquisition of Podz, a startup that’s trying to solve the problem of podcast discovery. “At Spotify, we are investing to build and scale the world’s best (and most personalized) podcast discovery experience,” the company said. “We believe that Podz’ technology […]
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techcrunch
Startup employees should pay attention to Biden’s capital gains tax plans

Startup employees should pay attention to Biden’s capital gains tax plans

techcrunch - 1 month ago

The Biden Administration has reportedly proposed significant changes to the capital gains tax, aiming to target the wealthiest Americans to help fund his historic aid programs.

If the current proposal goes into effect, it will have an impact on startup employees who aren’t (yet) wealthy. And its unlikely the Biden Administration has considered the consequences, because many of these employees arent yet in the highest tax bracket. But startup employees need to pay close attention to these changes when planning what to do with their stock options.

We dont yet know what will end up in a passed bill, which may look very different from the originally proposed plan. This shouldnt cause alarm for employees or cause them to avoid exercising options, but it is something they should be thinking about when planning their equity strategy.

When it comes to employee equity, the worst decision is always not having a plan of action.

As always, employees should work with their advisers to plan accordingly and get ahead of any changes.

How changes in capital gains tax impact startup stock options

Historically, long-term capital gains, or gains on assets held for over a year, have enjoyed preferential tax rates in comparison to short-term capital gains, which are assets held for less than a year. In Bidens original proposal, he suggests raising the long-term capital gains rate to the highest ordinary income tax rate on income over $1 million.

If Bidens changes are enacted, it means that there would no longer be preferential tax rates for those that make over $1 million on the sale of their shares post-IPO or as part of an acquisition. Many employees go long with their equity, selling them a year after exercising to benefit from long-term capital gains tax. Under this change, they may be limited to the amount of upside they can convert to preferential capital gains tax depending on their income levels and when they sell.

As with any tax legislation, the devil is in the details, many of which are still to be determined. These are the questions employees should be asking if the legislation moves forward:

  • Is the first $1 million in capital gains still taxed at preferential rates or do I factor in other sources of income to determine the $1 million threshold?
  • How can I plan around the sale of my shares to stay under the $1 million threshold?
  • Is there any impact on qualified small business stock (QSBS)?

Clarity on these questions and details of the plan will provide critical information for employees looking to exercise if Bidens tax plan advances in Congress.

Capital gains tax rules have always been political

Many presidents have expressed interest in changing the capital gains laws in the past. President Obama, for example, wanted to raise the capital gains tax. President Trump campaigned on capital gains rules, suggesting the carried interest rules, which are possible because of capital gains tax rules, be eliminated.

The questions now are: Will Biden be successful in addressing capital gains tax rules? And will the Democrats risk backlash or potential downsides driven by increased capital gains tax? Many experts suggest that the final legislation, if passed, will result in a capital gains tax increase, but much less than Bidens original proposal. Some are suggesting Congress will settle on no more than 30% as the highest capital gain rates for those who earn more than $1 million.

Only time will tell, but the suggested tax plan may create a significant, if unintended, burden to startup employees more than anyone else.

Planning around your equity

Theres still a lot of uncertainty around what new tax legislation may look like or if it will happen at all. At this point, startup employees may not necessarily need to act on these potential changes, but they should be taking it into account when planning what to do with their equity and, more specifically, when they are planning to exercise.

Either way, employees should still strongly consider exercising their stock options (its a key benefit of working at a startup, after all). Taxes are just one consideration. For example, many companies have exercise deadlines after employees leave a company.

Even if rates to capital gains taxes change, exercising early may still have its benefits, as many employees may still be able to create a plan to sell up to a certain number of shares at preferential rates every year.

While Bidens proposed plan is focused on changing the federal tax rates, state income tax considerations remain. Startup employees have been moving away from high-tax states such as California and New York in favor of no-income tax states such as Texas and Florida. Those that are planning a move may have a big incentive to exercise their options to limit California and New Yorks reach on the shares.

Its important that employees understand the advantages and disadvantages of exercising today versus waiting until after an IPO. When it comes to employee equity, the worst decision is always not having a plan of action.

sauce: techcrunch
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