I'm reading through Do More Faster and there is a chapter in there that talks about an 83b election and how it is ESSENTIAL that you do it when you create your startup. It seems to save you a ton of taxes later on down the road.
Has anyone had any experience with it? Is it necessary that you do it? I been talking to many business lawyers and non of them seem to know anything about it off the top of their heads.
Also, does this election effect a startup that is 100% bootstrapped and is not planning to take outside money?