Feld0 | 8 years ago | on: OVH outage explained
Feld0's comments
Feld0 | 8 years ago | on: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
Interac solved the P2P payments problem for every social group that I'm in there.
Feld0 | 8 years ago | on: Apache Foundation disallows use of the Facebook “BSD+Patent” license
Feld0 | 8 years ago | on: How to build your own VPN if you're wary of commercial options
Feld0 | 8 years ago | on: MediaGoblin – Self Hosted, Decentralized Alt to YouTube, Flickr, SoundCloud
Feld0 | 9 years ago | on: Mozilla Acquires Pocket
Feld0 | 9 years ago | on: Mozilla Acquires Pocket
Regional differences may be relevant here: in Canada, you can incorporate a nonprofit corporation and later apply for charity status (which restricts the company's possible activities in exchange for a 0% income tax rate) but it's completely optional.
In the US, on the other hand, to the best of my knowledge, one has to establish a for-profit entity first and then apply to the IRS to recognize it as a charity (which is a lengthy process). The words "charity" and "nonprofit" are interchangeable in the US for that reason.
If the concept of a non-charitable nonprofit exists in your jurisdiction, you can get the benefits of a nonprofit structure (ie. no owners) without restricting the company's activities, minus tax exemption and being able to issue tax receipts.
For context: I founded a non-charitable nonprofit in Canada; I'm not super familiar with the US side of things so I'm happy to be corrected.
Feld0 | 9 years ago | on: Mozilla Acquires Pocket
- Instead of shareholders, nonprofits have members. Members don't own the corporation (no one does) but control it insofar that they hire-and-fire its directors.
- Memberships normally can't be sold, and nonprofits have no equivalent to dividends.
- There are stronger conflict-of-interest protections, preventing officers from signing cheques to themselves or otherwise using the corporation's resources for their personal benefit - at least without someone else's approval.
A typical setup for nonprofits is to tie memberships to being a director, so that current board members choose their own successors. This is known as a "self-perpetuating board".
Feld0 | 9 years ago | on: Do Developers Need College Degrees?
FWIW, I'm studying in Canada and paying my way through school with internships.
Feld0 | 9 years ago | on: Ask HN: What are the best resources to create an LLC/Incorporate?
- The bureaucratic details differ between the various provincial jurisdictions and the federal one (like the one I mentioned with requirements for the makeup of the board). This could make a particular province's corporate rules a better fit for your business than the federal ones.
- That provincial incorporation is cheaper can matter for local businesses that have no intention of expanding nationally.
- Some provinces may require corporations from other jurisdictions (other provinces or the federal jurisdiction) to "register extraprovincially" to operate there, at extra cost. This is avoided by incorporating locally.
- If your business name is already taken by a provincial corporation in another province, you may have an easier time creating a provincial corporation by the same name than a federal one.
*
> obligatory "I'm not an accountant or tax expert" note
Taxes... I'm still figuring those out but CRA allows corporations to file in USD [1]. To the best of my knowledge, a Canadian corporation that only has Canada-resident employees and shareholders, and doesn't own property or servers in other countries, only has to deal with Canadian taxes. Expect to fill out a few W-8BEN-E forms to assert this. Depending on what your company does, you may have to charge your Canadian users sales tax.
[1] http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/fnctcrncy/men...
Feld0 | 9 years ago | on: Ask HN: What are the best resources to create an LLC/Incorporate?
Since my organization mainly operates with USD, and many of its paying users really like PayPal, a US bank account was a necessity.
As for gotchas... be aware that directors cannot hire-and-fire each other unless they also happen to be the corporation's voting members or hold its voting shares. This might be weird to wrap your mind around if you've only been a sole proprietor before, and is why I advise consulting with a lawyer if you plan to split up control.
Feld0 | 9 years ago | on: Ask HN: What are the best resources to create an LLC/Incorporate?
There's no equivalent to LLC's in Canada so you'll need to create a corporation up here. You can incorporate in the federal jurisdiction or a provincial one; you'll want to read the relevant acts that you'd be incorporating under to figure out the differences. BC corporations, for example, require at least one director to be a BC resident; federal for-profit corporations, on the other hand, require 25% of the board to be Canadian citizens.
I created a federal corporation in Canada last year, mainly relying on the info and "how-to" guides on Corporations Canada's website to educate myself: http://corporationscanada.ic.gc.ca/eic/site/cd-dgc.nsf/eng/h...
I also went through the Canada Business Corporations Act and Not-for-profit Corporations Act a few times; they lay out the bureaucratic details you need to be aware of.
The most awkward part was opening a US-based bank account afterward; BMO Harris was one of very few US banks I came across that was willing to talk shop with a Canadian company (I'd love to hear if anyone knows of any other foreign company-friendly US banks).
If you name yourself as the only director and shareholder (or voting member, in the case of a nonprofit), you still have to hold board and shareholder/member meetings but they'll be very straightforward since you'll be their only attendee. _Definitely_ consult with a lawyer if you're contemplating a voting structure that extends beyond yourself or the directors.
For creating a nonprofit in particular, you may be able to get pro-bono legal advice through an organization like Access Probono (http://accessprobono.ca). Corporations Canada also offers a super-useful By-law Builder tool which gives you "sane defaults" for the corporation's structure: https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/h_cs04734.html
Feld0 | 9 years ago | on: Ask HN: Who are the best dedicated server providers right now?
Feld0 | 9 years ago | on: Stripe has raised $150M more at a $9B valuation
Feld0 | 9 years ago | on: Ask HN: Good email host?
The network your IP is in makes a difference. My mail server is currently at OVH, which is a good enough neighbourhood for Mailjet to have built an email business there.
I very occasionally have an email bounce back (once a year or less). The bounce message typically includes information on exactly why it bounced and how to contact the receiving server's operator to figure it out.
The vast majority of the work goes into the the initial setup, which takes an evening if you're using a packaged mail stack. [1]
[1] If you want a free packaged mail stack, here's a FOSS one: http://www.iredmail.org I have no experience with it but have heard good things.
Feld0 | 9 years ago | on: Ask HN: Alternatives to AWS?
OP mentioned a desire to work with bare metal/do IaaS their own way, and dedicated server providers are awesome for that. Conversations about infrastructure are often about "cloud vs. running our own datacentres!" and renting dedicated servers is an interesting middle ground - you get a ton of hardware and bandwidth for your dollar and maintaining the hardware isn't your problem. You give up per-hour billing but you could very well still save money - it's a serious alternative to VPS providers like DigitalOcean.
Feld0 | 9 years ago | on: Ask HN: What non-technical skills make a senior dev and how to develop them?
Feld0 | 10 years ago | on: Free Transactional Email Services – The Best Alternatives to Mandrill and Co
Source: am an OVH customer