- Jun 17, 2019
- 4,168
- 13,745
Well, the reason to be learned here is: create a legal company, especially when the costs of your 'side project' raise up to $6,000 per month and you seem to be getting that money (and even more, I guess, if you were able to keep it running for more than 4 years) from donations. I mean, this paragraph is extremely annoying to me:
Like, c'mon guys, really? Creating a legal entity or a LLC in order to get access to credit card processors (while, of course, start paying your taxes) is not 'realistically viable' for people who were able to cover a $6,000 monthly bill via Patreon donations? Oh boy, the nerve of these people. It was a great service, though.This means, as of now, we have lost all ability to receive payouts from our fundraising platforms, so are unable to continue paying the $6000 server bills. We’ve looked at other options like other crowdfunding platforms (the majority use Stripe/Paypal/Payoneer), accepting credit card donations directly (ideally need a legal entity in US/EU for VISA/MasterCard), crypto (not widespread enough/sustainable), registering as an LLC in US or EU (having to deal with sales tax/VAT/international tax law/IRS/etc), and ultimately we’ve come to the conclusion that there is no realistically viable alternative at the moment.