Comment by 1auralynn
3 years ago
Right? Like, should I even bother applying for Phase II in September? There is no way I could afford to pay taxes on $1.8M.
3 years ago
Right? Like, should I even bother applying for Phase II in September? There is no way I could afford to pay taxes on $1.8M.
IMO you should talk to an accountant. It's pretty cheap to do that in comparison to the tax bills (my accounting bills are <$1000/year for a similar situation to you). Phase II is a lot of money, and you may be able to get some venture debt now that you're past Phase I to cover what the SBIR doesn't (ie the taxes). There's also some chance that the law around this will be reversed.
Thanks - yeah, I was mostly being dramatic for effect, there's no way I'm not applying for Phase II.
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