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Not sure if/how this would work, but if I were an enterprising CPA with a long time horizon, I’d look into spinning up a bunch of C-corps and start the 5-year holding period in order to offer a reverse IPO-style service to help LLC/S-corp founders qualify for QSBS.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thought about this. Problem is that QSBS is something you claim and can be erased in an audit situation... So too easy to disqualify if any funny business and there's no way to fight it That said I'm working on another approach if you want to chat
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The ship has sailed for me (https://www.pehub.com/2018/05/pe-backed-drake-automotive-group-acquires-proforged/ …) but I’m definitely still curious to hear.
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They would fail the QSBS test. The firms can’t be holding cos, they have to actively deploy capital (and can’t be a whole host of things, eg consulting)
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I’d be interested if a couple of smart folks could find a loophole or if it’s airtight.
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