'tax' Tag
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Employee equity grants in French startups (aka, did the tax authority poach my spreadsheet?)
September 9, 2014One major inconvenience in VC investing in French startups which consistently raises its ugly head is the complexity to incentivize key personnel with equity. I’m not referring to the employees who eschew the upside potential afforded by equity in favor of fixed pay with high job security. While certainly understandable at certain positions in a […]
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Governments’ bite of the Apple
May 28, 2013There has been a lot of gnashing of teeth recently about Apple’s alleged dodging of paying taxes on tens of billions of profits from 2009~2012. Incidentally, that’s merely what the U.S. government deems it forfeited. Apple of course pays a paltry tax bill in France, despite the fact the France remains the world’s third best […]
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Bogle on carried interest
February 17, 2012John Bogle is one of my idols of the financial world. He is best known for revolutionizing the mutual fund industry by demonstrating the superiority of index funds over traditional actively-managed mutual funds over the long term. In the mid-70’s, Bogle established The Vanguard Group and subsequently created the Vanguard 500 Index Fund as the […]
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A good time to raise funds
April 17, 2011In France we’re now entering what I think of as the “easy money period” for startups. The easy money period begins roughly around April 15 (perhaps coincidentally, the U.S. tax deadline) and runs until June 15 (the French wealth tax filing deadline, and that’s no coincidence). To be fair, fundraising in a startup is never […]