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Unfortunately, I still haven't been able to get a straight answer on how this applies to founders (versus investors). What about co-founders contributing time or IP instead of cash?

Previous discussion here: http://news.ycombinator.com/item?id=1972515 and http://news.ycombinator.com/item?id=1555363 and probably several others

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I met with George Grellas at Grellas & Associates yesterday about exactly this, it's potentially a huge benefit for founders, I believe it does require some small cash amount along with IP. I am in the process of creating an entity through Grellas & Associates and was going to pay extra to have the process expedited to take advantage of this tax benefit that I believed expired at the end of this month. Can someone please confirm that this has been extended through 2011 or provide a link? I haven't been able to find anything.

Here is a link to a PDF summary. Now just waiting for the President to sign it. http://tax.cchgroup.com/downloads/files/pdfs/legislation/bus...

I have spent a lot of time on this over the past few weeks. I'm amazed at how few CPA's actually understand this legislation.

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