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Think a major exit automatically comes with a massive tax bill? Not necessarily.

In this episode of The Firm Report, host Zach Hoffman sits down with Jonathan Fish, founder of CapGains and QSBS specialist, to break down one of the most powerful—and misunderstood—tax incentives available to founders and investors: Qualified Small Business Stock (QSBS).

Jonathan explains how QSBS can allow eligible shareholders to exclude up to 100% of capital gains—and why so many investors lose the benefit due to avoidable missteps.

In this conversation, we cover:

What QSBS is and why law firms need to understand it

The early planning decisions that protect eligibility

Common actions that quietly disqualify investors

How AI is being used to analyze legal and financial documents faster—and more accurately—than traditional review

Why proactive tax strategy is now a competitive advantage for law firms and advisors

This episode is essential viewing for law firm leaders, founders, venture investors, and advisors looking to reduce risk and protect long-term value.