So this is the first month in which I received my payments on time (as would be expected) which for a long while gave me hope that Patreon may have finally worked itself out and I had finally stopped messing it all up.
However, as we near the last 3rd of the month, I found out some facts that are making me feel a little uneasy.
1) Patreon is now requiring our tax and social security info so they can start reporting our earnings to the government.
-Beyond the issue of being unsure about sharing such information, this also raises a new issue when it comes to taxes. We are required to pay a certain percentage of our earnings that are reported to the government. This is normally understood or even good, given that in the normal work setting that money is automatically taken out of our paychecks by an estimated amount, then any excess we pay over the year is given back to us in the form of a Tax Refund (a happy time of the year for many). However, since Patreon doesn't take out money for that yet still submits the money, we have to set aside money to pay for taxes. So in addition to the 9% they take off the top of our earnings, we also have to give up a tax amount, so we end up with even less than the full amount.
2) I understand Patreon is providing a wonderful service and has been allowing me to squeeze by when it comes to living expenses, but between the gaps in processing times and fragile system that can mess me up pretty easily, I'm considering cutting out the middle man.
So this goes out to those that are supporting me, would you folks be okay if I switched off my Patreon and we did business directly through Paypal?
I am working on better systems so I can start getting you your Thank You awards more streamlined, and also add on a few more benefits that will hopefully sweeten the deal.
I really need to know what you guys think ASAP so I can close out my Patreon and we can put the new system into action.
Much Love and Thanks,