Hacker News new | ask | show | jobs
by quaquaqua1 2292 days ago
If you start a website that offers some service people need, you can begin charging for that service. Be aware that if you are in the US for example, you would need to file a more complicated "self-employment income" document on your tax return.

Also be aware that you can be sued for pretty much any reason and will need to defend yourself in court. If you remain a sole-proprietor and don't have much to lose, there are legal hotlines that will help defend you for a very low price. If you form an LLC, this service isn't available and life becomes more costly and complicated.

Also be aware that if you are running a successful site, security and performance will be important and costly vectors for you to consider.

Lastly, health insurance is more difficult and expensive to obtain when you are self employed in the USA, compared to a W2 job.

If all of that doesn't scare you, then begin to focus very hard on problems that people need solving and are willing to pay money for. One example would be online tutoring for whatever skills you have :)

Else, there is always stock trading, which comes with risk, but so does everything else in life.

2 comments

Thanks for the input, and the whole „liability issue“ is something that I worry about. Being a sole-proprietor here (EU) means that you are liable with every personal asset, but it’s cheaper to set up and has not as much bureaucracy overhead.

I was also thinking about using something like Stripe Atlas to set up a US company, but I‘m not sure how expensive it is to run it (hire an tax attorney etc) over the year if it doesn’t generate any money.

I mean, I probably just have to try it out without worrying too much

If you're looking for a less expensive option, check out https://blook.io/stripe-atlas-alternative
I thought LLC was supposed to make life easier? Why does it get more complicated when it comes to defending yourself in court?