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I Just Hit $100k/year On GitHub Sponsors

calebporzio.com

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Re: I Just Hit $100k/year On GitHub Sponsors

#141

Post by bklyn11201 »

komali2 wrote: post #130
jermaustin1 wrote: post #101

Earlier quoted context omitted.

If you set the entity up correctly and work with a decent accountant, your $112k turns into more like $40k taxable, and if you are married, that $40k drops to $20k @ 10% + $20k @ 12% or ~ $4500 in taxes.

This is news to me so I'm just saying, if you wrote about this in more detail, I'd read the shit out of it.

I think what he's generally saying: aggressively deduct expenses used to support your business. This would include rent, home office, computers, phones to conduct business, business meetings, travel, health insurance, retirement, etc. Then the member and spouse would draw low salaries putting you in low income bracket and thus low taxation. The 2017 TCJA further reduced taxation for business owners via the Qualified Business Income (QBI 20%) deduction.

Re: I Just Hit $100k/year On GitHub Sponsors

#142

Post by philliphaydon »

iandanforth wrote: post #122
NickBusey wrote: post #85

I hit $500/yr on Patreon this week for my open source work! :) Nice work, I should think about having paid only videos as well, I believe I can do that pretty easily on Patreon. Good tips in here.

Lol I didn't notice there wasn't a 'k' in there and was really impressed for a moment.

I'm still impressed. It makes me happy to see that people are getting a bit of money for the value they bring us.

Re: I Just Hit $100k/year On GitHub Sponsors

#144

Post by komali2 »

Grimm1 wrote: post #47
Veelox wrote: post #28

Earlier quoted context omitted.

I would estimate Sr. or better is possible for someone who is able to independently run a OSS project. Going off https://www.levels.fyi/company/Google/salaries/Software-Engi... that comes out to ~$350k/yr going up one more level gets you ~$500k/yr I will let you decide if 3.5x - 5x is "not even close".

Unless you're doing interesting things at google for that 300-500k, 100k to work on OSS problems seems immeasurably better to me especially because they don't have to live in the bay area. 100k in pretty much anywhere but the east or west coast may as well be 300k.

If we're talking raw numbers, that doesn't compute well.

My last rent in Houston for an actual cool place to live (downtown Westheimer area) was a solid 1.3k, or 15k a year. So after taxes rough estimate 70k - 15k = 55k into your savings account, before expenses etc.

I have the best apartment I've ever had in my life practically on top of 16th mission station right now for 2.1k. I'm not making 300k but if I was, let's see: 210k - 25k = 185k into savings each year, not including expenses. That's 3x the amount of money for investment, savings, playtime in places where the money goes the same distance no matter where your permanent address is.

State and city income tax aren't going to eliminate that 3x difference. Brunch costing 50$ vs 20$ isn't going to make up that difference.

We can talk about quality of life as well but that'll be a much, much longer comment from me, and feels like a pointless conversation (city folk gonna city).

Re: I Just Hit $100k/year On GitHub Sponsors

#146

Post by AlchemistCamp »

Ndymium wrote: post #132

Reading these makes me sad about the law in my country, Finland. The lowest tier of OP ($7 for no reward) would be illegal here. We have a law called "Money Collection act", which states that to gather donations (i.e. payments with nothing in return), you have to get a permit. This permit costs money, is not given to individuals, and is given only for non-profit activities. So this means that if you see a donation/sp…

How common are bootstrapped (i.e. non-wealthy, non VC-funded) entrepreneurs in Finland?

Re: I Just Hit $100k/year On GitHub Sponsors

#147

Post by komali2 »

hoorayimhelping wrote: post #54
msoad wrote: post #8

$100k is still not even close to how much you can make in SV as an engineer. Specially an engineer at this caliber. But working on OSS full time is probably 100x more fulfilling than building CRUD for a boring ad company.

> $100k is still not even close to how much you can make in SV as an engineer Oh, well then fuck this idiot, right? What a dumbass loser - doesn't even realize they can be a s i l i c o n v a l l e y e n g i n e e r and make a lot of money. Jesus it's so exhausting reading the knee-jerk "SV engineers make more money" reaction to everything. You know what this person has that 99.999% of all SV engineers will never hav…

> The option not to have live in San Francisco, a dismal place that very few people want to actually be in anymore.

Dismal? Lol I love it here. People are moving out of cities all over the country because of coronavirus, sure, but only because most of the perks of city living are non-existent right now. I know a couple people moving and they're not going far, because of the nearby available amenities, that being excellent cycling and motorcycling roads, great mountain biking trails, climbing rocks, whatever water sports you could want...

Never quite got the hate. It's good weather and a great region.

Re: I Just Hit $100k/year On GitHub Sponsors

#148

Post by Hedja »

Since people are showing interest in GitHub Sponsors, I just wanted to mention: The types of services listed in the article likely falls under VAT in specific regions which can be a pain to calculate. That's one of the reasons I'm sticking with Patreon; they handle tax and chargebacks so the fee isn't a big deal. GitHub Sponsors explicitly says the tax is all on you. They don't mention chargebacks in their docs so it's hard to say, if they're processing the payment on their end, I'd guess they handle it.

https://help.github.com/en/github/supporting-the-open-source...

Re: I Just Hit $100k/year On GitHub Sponsors

#149

Post by kungtotte »

bryanrasmussen wrote: post #104
znpy wrote: post #73

Earlier quoted context omitted.

after taxes

In Denmark after taxes you would probably have about 329,000+ dkk, which yes, that is a pretty good half a middle class couple. So you can take care of half a family on that reasonably, not astoundingly great, but quite reasonable. on edit: actually looking at wages in Denmark I see I am somehow doing a lot better than I thought, which is pretty much amazing to me considering how badly I thought I was doing. Since I…

Eh, I live in Sweden and I make around that much before taxes and me and my wife could manage with just my paycheck if we really had to. That's with a mortgage on a house, two cars, and a four year old kid.

I doubt the cost of living in Denmark is that much higher than Sweden, so I'd say you're living beyond your means if you can't make it work on 329K DKK after tax...

Re: I Just Hit $100k/year On GitHub Sponsors

#150

Post by ensignavenger »

Ndymium wrote: post #132

Reading these makes me sad about the law in my country, Finland. The lowest tier of OP ($7 for no reward) would be illegal here. We have a law called "Money Collection act", which states that to gather donations (i.e. payments with nothing in return), you have to get a permit. This permit costs money, is not given to individuals, and is given only for non-profit activities. So this means that if you see a donation/sp…

Can you not do a "pay what you want" product? Here is this software which is open source. You can pay me what you want to for it- here's the link.

The software (Or service in your case?) is the product.

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