Advice on "overemployment" potential?

[shiningstar]

@maluchristian Shit, why not give it a go? Avoid company b but you clearly know your capabilities well enough, so give company C a go as well. Plenty of people contract as well as have other jobs.

If you find you can't handle both, then quite company C.

I'd look into tax codes but ultimately you can put what you want and just sort out the bill with IRD when you do your return. Your contract work is WT and seeing as it's the smaller amount of time (even though it pays more) I'd say most people would be fine considering that 'secondary' anyway, so company c can be primary.

But yeah, at the end of the day, you give your employer whatever code and then sort the bill out with IRD ulitmate anyway, that's the whole purpose of a tax return.

Any enviable postion!

 

[campbells0up]

@maluchristian Unpopular opinion, you can easily go with A and C. You don't even have to declare your tax code as ST to company C,because it's your only Paye income. The first month or two might be stressful, but once they get to know that they can trust you, and leave you alone to do your work, they won't bother you much. Another advice, do not disclose this to anyone at your work, no matter how close you are. If you can, when you start with company C, introduce yourself with a nickname, and tell everyone that is how you are known by.
Source: Done this a few times in my career. Still doing the same, but not so scared because my second employer is US based.

 

[maluchristian]

@campbells0up That is interesting. So you're already in a situation where you are a full time PAYE + a self-employed consultant?

What tax code do you use for your NZ company? What tax code for the consulting work done in the US?

Sorry for the questions. It's cool to find someone already doing this and making it work for themselves and the businesses they serve. And I do agree, the longer you work a certain field the less time it takes you to finish projects. I don't think I should be punished for my efficiency. It used to take me over 8 hours to finish a day at Company A. Now it takes me less than half because I invested a lot of effort in automation.

 

[campbells0up]

@maluchristian Tax code for NZ Paye is M. And for the US income, my accountant will declare it after the financial year ends, and also claim a bunch of expenses. Tells me how much I need to pay, and by what date.

 

[fooksaan]

@maluchristian You'd want to check your contracts very carefully for things like conflict of interest clauses. if one job was baking cookies and the other was UX design then maybe you could make an argument, but if you are doing UX design for both, then either could consider you are giving your "best" ideas to the other and make life difficult.

Personally I'd stick with Company A and enjoy a less-stressed life with the family and animals.

This might be just more about where I am personally in my life, wishing I didn't have to spend quite so much of my energy at work.

 

[tessy40]

@maluchristian I know that a significant share of our IT department are overemployed. It sucks cause we don't get the support we need to reach our targets. Others know too and it impacts morale. Can't say that I have a lot of respect for that sort of behavior, but it seems quite easy to pull that off esp. in certain sectors.

 

[christian_boy996]

@maluchristian My opinion. I will take company A as business income . Company C as full time income. I will do both for a year. That’s 10 hour a day but it’s lot of money. I don’t know your age but I believe 10 hrs a day work with good salary should not be an issue. You still have enough time to do other work in your life. You have to be careful though (not update your LinkedIn or tell people around you about company A) as this market is tiny and people talk.