I'm part of a new three-man software startup. We began product development in February, and started accruing expenses at that time by hiring contractors for help. Our company is not yet legally formed.
- How can we establish a basis date or "backdated" creation date so that an exit in the next 9 months will be taxed at long-term capital gains, instead of short-term?
- Is there a preference for LLC vs corporation to support this?