I surveyed 500 startup founders about their salaries
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Re: I surveyed 500 startup founders about their salaries
#2Thought the site was designed very beautifully.
I'm not 100% sure I have too much comment on the salaries, but kudos on putting together some engaging content!!
Re: I surveyed 500 startup founders about their salaries
#3Now do dividends and other perks.
Re: I surveyed 500 startup founders about their salaries
#4I think what people often blissfully miss about founder comp is that the business literally supports the founder's entire life. Everything is a business expense. Pay yourself 50k as a little bonus and run almost everything through the business, because if you don't survive, neither does the business. You think founders are paying out of pocket for their fancy SF and NYC apartments at 50k per year living humbly? Think again. IDK, I always thought this part of the narrative was rather misleading.
EDIT: I'm not a tax person, obviously people aren't being illegal and dishonest. It's just smart to write off everything possible in a founder's life as a business expense. Maybe housing or this or that doesn't qualify where you live? Great that's what the minimal salary is for. Everything else goes on the company card.
2nd EDIT: I don't really understand why everyone is so cagey whenever this topic comes up. This isn't news. The IRS isn't reading this saying "gosh darn they figured out a new loophole". The laws are clearly spelled out, it's up to you to apply them to your situation. Remember, tax evasion is illegal. But minimizing tax liability is 100% okay and literally the name of the game. Otherwise, we wouldn't have tax breaks in the first place.
Re: I surveyed 500 startup founders about their salaries
#5I think what people often blissfully miss about founder comp is that the business literally supports the founder's entire life. Everything is a business expense. Pay yourself 50k as a little bonus and run almost everything through the business, because if you don't survive, neither does the business. You think founders are paying out of pocket for their fancy SF and NYC apartments at 50k per year living humbly? Think…
In what kind of startups is this happening in?!
Edit: in our early days, if one of the co-founders did this, we definitely would've parted ways.
Re: I surveyed 500 startup founders about their salaries
#6It seems like the real path to retirement is be that guy who gets a startup funded and promptly write yourself the $1M yearly check
Re: I surveyed 500 startup founders about their salaries
#7Thought the site was designed very beautifully. I'm not 100% sure I have too much comment on the salaries, but kudos on putting together some engaging content!!
I was going to say this, beautiful data viz! OP can you talk a bit about what tools were used?
Re: I surveyed 500 startup founders about their salaries
#8I think what people often blissfully miss about founder comp is that the business literally supports the founder's entire life. Everything is a business expense. Pay yourself 50k as a little bonus and run almost everything through the business, because if you don't survive, neither does the business. You think founders are paying out of pocket for their fancy SF and NYC apartments at 50k per year living humbly? Think…
How many founders are claiming rent as a business expense? Granted, founders are able to expense a lot of things that employees are not.
Re: I surveyed 500 startup founders about their salaries
#9I think what people often blissfully miss about founder comp is that the business literally supports the founder's entire life. Everything is a business expense. Pay yourself 50k as a little bonus and run almost everything through the business, because if you don't survive, neither does the business. You think founders are paying out of pocket for their fancy SF and NYC apartments at 50k per year living humbly? Think…
I this true? Wouldn't the IRS have something to say about apartments being classified as a business expense when it is used as housing in addition to "office space?"
Re: I surveyed 500 startup founders about their salaries
#10I think what people often blissfully miss about founder comp is that the business literally supports the founder's entire life. Everything is a business expense. Pay yourself 50k as a little bonus and run almost everything through the business, because if you don't survive, neither does the business. You think founders are paying out of pocket for their fancy SF and NYC apartments at 50k per year living humbly? Think…
In what kind of startups is this happening in?! Edit: in our early days, if one of the co-founders did this, we definitely would've parted ways.
The tax-conscious kind.