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Jacek.degen.eth 🎩
@jacek
The U.S. tax system is insanely convoluted. Add in global taxation of citizens and it's basically impossible to understand anything. I've been buried in taxes for 10 days straight—working with two law firms and a crypto tax firm just to make sense of it all. If I could rewind time, I’d never open a business in the U.S. Makes zero sense, especially in crypto.
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Nick Rishwain
@nickjrishwain
The biggest asset to building in the US, in the last 30-40 years, has been access to money. Most of those investing, required companies to be incorporated in the US. I suspect that will largely remain true, though there will be some temporary changes based around the current protectionism.
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Jacek.degen.eth 🎩
@jacek
This is 💯 true—pretty much every investor I’ve talked to who actually writes checks is US-based. If it wasn’t for US money, Degen definitely wouldn’t exist in its current form. But man… the taxes are brutal.
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Nick Rishwain
@nickjrishwain
Until about a month ago I was writing angel checks and looking in both US/CAN based startups. Now I’m not writing angel checks because of market conditions. But jurisdiction definitely mattered to me. Taxes are a nightmare.
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