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Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
12 June 2000
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SPECIAL ALERT: Congress to start the Distressed Communities debate this week says the Wall Street Journal in a full page article, under a subtitle "Bipartisan Rebuilding," on A32 of their June 12, 2000 edition. This story tells it all on upcoming tax incentives for all to see.

The Startups keep rolling along; Where are the Enterprise Communities; A man and his dog do well.

1. The Startups keep rolling.

The Los Angeles Times Business Section on page 1 says it all, the incubators are alive and well. The players in this article are very familiar, including one from San Diego. But where is the discussion of the tax aspects of a Startup? Did the FAME Renaissance and their neighbor USC miss something?

Check this out. Is it possible that this film could have been done in the Los Angeles Federal Empowerment Zone/Enterprise Community with better results? or in the Nation's Capital with its Enterprise Zone?

What is interesting is to see downtown Washington, D.C., and downtown Los Angeles, they are world's apart construction wise. Could it be that tax and financial incentives, such as ZERO CAPITAL GAINS could make the difference? The little guys, the developers, need equity capital and tax incentives are the key to this with 39% investment credits leading the way.

The Industry Standard has a Special Edition on Startups including an article on home-based businesses. But where is the discussion on the tax aspects of a Startup?

Is it possible they may be missing something? Maybe the Startups are not making money, or they are involved in other things, but we suggest that taxes play a big role, especially to their investors.

2. Where are the Enterprise Communities?

If you go to our Web Site you will see that we favor the Urban setting, construction and all. Moreover, that is where many of the Enterprise Communities are, whether we are in Seattle, Portland, San Francisco, Oakland, Los Angeles, Denver, Las Vegas, Phoenix or San Diego, to name a few.

The Urban scene is hot for Dot-Com Companies, including Amazon.Com. What will happen when the proposed tax and financial incentives, as agreed to by the President and the House Leadership of both parties, kick in and 39% investment credits, $80,000 IRC Section 179 deductions, capital gains roll over, and ZERO CAPITAL GAINS ZONES are adopted? We think we know but do the learned ones in the New Economy see it, not yet.

3. A Man and His Dog do well.

If you have not seen or read Philip and Alex's Guide to Web Publishing, by Philip Greenspun, on Amazon.Com you are in for a real treat [it was written in 1998 and published in 1999]. Then go to Arsdigita.Com and see what happens when you give your 'Content' away for free. There may be a message here to those who want to charge for everything on the Web such as music, film and video. When you want Startup Capital from a VC, a C Corp. will be the favored entity.

Jim Schneider, LL.M.

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