We don’t get a salary, but we do take a draw. All four of us. We have to pay our bills and our taxes and we work at this full time so have no other way to earn a living. None of us are rich. Also, as the owners of Free Republic, LLC, the net income of the LLC flows back to us and we get to pay the taxes and both sides of the FICA on our personal tax returns.
The budget listed is a couple years old. I’ve asked John to update it, but he always seems to have bigger fish to fry. We added Chris to the payroll a couple years ago and his costs are not reflected in the budget. We also spend considerably more in travel than we budgeted and our taxes are much higher than we had listed. Also there are some big one time expenses we’ve had in the last couple of years that we had to borrow for and our payments are not listed. But they are almost paid off. Unless we get sued again or decide to purchase a lot more equipment or have some other large unexpected expenses pop up, I think we’ll be able to reduce our funding requirements starting next quarter.
This is contrary to what I thought. I'm glad to know that you are at least getting something. I think you should be getting a comfortable living at least out of this but that is your choice, of course.
I would be very helpful to have the public records up-to-date so that they reflect the current financial situation accurately. That would go a long way towards reducing questions and anxiety about all this stuff.
You could even hire an accountant to handle the ever intrusive tax burden. But it would also put a huge Holderesque target on your back ...
Jim, I realize it would likely stick in your craw . . .
however,
I’d be blessed if you’d post what the loan outstanding is and what it was for—even a general category—and let the FREEPERS decide if they want to help you retire the debt early.
imho,
YOU HAVE MORE THAN EARNED SUCH HELP AND IT WOULD BE AN HONOR IF WE COULD HELP.
I could only kick in an extra measily $5.00 toward such but maybe thousands of FREEPERS would feel similarly.
PLEASE let us at least consider it!
PLEASE AVOID REDUCING THE TARGET FOR FREEPATHONS.
Just put whatever amount in a hardware budget or emergency savings or whatever such.
Thanks - that clears things up.
Jim. Whatever it takes for you to do this and make a living. I will never begrudge you a penny of income and hope you do well enough to at least be comfortable (I am not asking for an answer on that, I just want you to know my thinking).
I know that I can only give a small amount per month now but I will increase it by half come February.
I think you know that FR has become the premier conservative web site in the Country, and possibly the world and most of us would do anything, legal that is, to ensure it remains viable and want you to have a decent life to boot.
Take care and God bless you and your family of hard working patriots.
Jim, you should all get paid for your time, and you should also have a pad for emergencies. You are publishers. Do not feel you have to answer to the chiselers, nosy nellies and long-time freeloaders. (As opposed to newbies learning how invaluable this site may become to their thinking after a year or two.)