Company history
Gross assets and active business facts
How founders can organize financing, asset, and business-activity facts for a professional QSBS review.
Overview
Gross asset and active business questions often require financial records and business context, not just a short founder summary.
Key takeaways
- Financing and balance sheet history should be connected to source records.
- Business activity should be described with product, customer, and operations context.
- Uncertain financial thresholds should be treated as review items for a professional.
Gross asset records
Collect financing records, balance sheets, and accountant summaries that show asset levels around relevant stock issuance dates.
- Financing round documents
- Balance sheets near issuance dates
- Accountant or tax advisor summaries
Business activity records
A practical business summary helps the advisor understand what the company actually did during the relevant period.
- Products or services sold
- Customers and revenue model
- Operations, employees, and contractor context
Professional review items
Do not resolve technical asset or business-activity questions from memory. Put uncertain items into the discussion brief for professional review.
- Unusual assets
- Investment or holding-company activity
- Business pivots or discontinued operations
Suggested next steps
- Collect balance sheets
- Summarize the business activity timeline
- Ask which financial records the advisor needs first
FAQ
How should founders use this guide?
Use it to organize facts, records, unknown items, and questions before speaking with a qualified professional.
What should be done with state-level questions?
List them as review questions for a qualified professional. This guide does not make state-specific tax claims.
Preparation only
Use this guide to prepare a clearer advisor conversation.