00:00the sooner you gift your stuff the better really because then you have the full amount of your
00:05lifetime gift tax threshold that you can use beyond that you will need to fill out i think
00:11it's 709 is the form when you do gift into the trust to start the business you're you know using
00:19the assets as the capital contribution there's no step up in basis or change in time frame held
00:26those assets just transition into the business especially if you are
00:30the sole owner and you're the one making the contributions if you are going to give other
00:34people equity in the cap table you know they they should be contributing whatever percentage you're
00:39giving them
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