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Asking__HN

126 karma · joined January 3, 2022

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Asking__HN··on Ask HN: How do I manage the profit of a successful website?
A special thanks to all who replied! The spirit of the question was definitely less “how do I avoid taxes” and more “what other things should I be considering”, _but_ I’ve learned that I definitely need to find a good accountant and tax person because what I’m doing now in that regard is horribly inefficient.

I love the wide range of suggestions I received as this is exactly what I was looking for and the HN community didn’t disappoint.

Aside from tax/accounting/business stuff, here are some great takeaways/ideas I got from you all:

- First and foremost, and I’m extremely embarrassed to admit that it hadn’t even occurred to me, I want to start sponsoring folks working on open source projects. I definitely make considerable use of such projects and will definitely start supporting them monetarily.

- Related to the point above, I like the idea of sponsoring artists—-musicians, local museums, etc. I don’t have Muskmoney to throw at the community to make all artists rich, but I can definitely help fund a project or two for a year or something.

- I love the idea of sponsoring some local sports teams.

- “Pay for Sublime Text” made me chuckle.

- I’ve tried offering more money to my other developer, but they already have a well-paying job and this person was more of a mentor to me through the whole process and they are just happy to see the project succeeding.

- Donate to charity. Love the idea, but as others pointed out it’s hard to figure out where to put that money. I’m thankful for the givewell and charitynavigator links and will check them out.

- Assume it won’t last forever. This I know, and it’s part of the reason I wanted to ask HN. It’s operating profitable enough to get me set for life, so once I’m there, I now have a lot of good resources to turn to to see what else I should focus attention and money on.

Thanks again HN!