I’m sorry but at this stage there is little he can do but move.
He might still get a huge tax bill on unrealized gains even if he does.
amando_abreu on
Not start a business.
ecsluz on
Stop crying
[deleted] on
[deleted]
mralderson42 on
nothing much he can do while playing by the rules of a state that does not incentivize success
ProprietaryIsSpyware on
Nothing, Norway is hostile to business owners and they all should leave, the wealth tax is punishing everyone, not just the ultra rich, this system is shit and will collapse once the oil runs out.
Beginning_Crazy1138 on
Im very confused did he think he wouldnt have to pay any taxes?
roodammy44 on
What he should have done is sold some of his shares for cash as part of the VC investment deal, and used this to pay tax.
I’m pretty sure this is a common thing to do when starting companies even outside of Norway. Cashing out a bit of the company at VC time is usually used to pay your living costs as a founder, and pay back the initial investment.
It’s clear he didn’t think about this the whole way through. This is why a lot of founders talk to lawyers and financial advisors when they go through these things.
Gusto_with_bravado on
Can any smart person please explain this to me and it’s context in laymen terms
Logitech4873 on
“.eth”
Idk, preferably he just moves away? Not really interested in crypto people lol.
10 Comments
I’m sorry but at this stage there is little he can do but move.
He might still get a huge tax bill on unrealized gains even if he does.
Not start a business.
Stop crying
[deleted]
nothing much he can do while playing by the rules of a state that does not incentivize success
Nothing, Norway is hostile to business owners and they all should leave, the wealth tax is punishing everyone, not just the ultra rich, this system is shit and will collapse once the oil runs out.
Im very confused did he think he wouldnt have to pay any taxes?
What he should have done is sold some of his shares for cash as part of the VC investment deal, and used this to pay tax.
I’m pretty sure this is a common thing to do when starting companies even outside of Norway. Cashing out a bit of the company at VC time is usually used to pay your living costs as a founder, and pay back the initial investment.
It’s clear he didn’t think about this the whole way through. This is why a lot of founders talk to lawyers and financial advisors when they go through these things.
Can any smart person please explain this to me and it’s context in laymen terms
“.eth”
Idk, preferably he just moves away? Not really interested in crypto people lol.