maluchristian
New member
Hi PFNZ whanau,
Throwaway account in case my old/new bosses are on here. I've worked in IT for over 15 years now. Recently, with COVID lockdowns I have been able to find remote work and try my hand at being a contractor. The past year has been easy cruising, but have had a recent shake-up recently. I am hoping for advice!
I need help on potentially becoming "overemployed". Here's the situation:
Company A:
$170k/year pretax. No benefits, no KiwiSaver, and I do my own taxes. I still get paid sickies and paid-time-off and I get to deduct expenses though, which are nice.
The type of work I do here can realistically be done in 4-5hours/day. They trust me there and I am well-respected.
Company B:
$140k/year pretax. Kiwisaver match and I am a full-time employee. Based off the interviews, they're a fast moving company with lots of work and not too many people to do it. I might need to work a full 8 hours in this company. It is well structured and established. They work different projects in a wide scope. Getting a 'toxic work culture' vibe from the interviews.
Company C:
$130k/year pretax. Same as Company B - I will be a permanent employee with usual perks. Based off interviews, they are a very small team wanting to scale. Not too much structure, trying to figure things out, but need all the help they can get from experienced people like me. They have a narrow scope of work. Based on the JD, I might be able to complete work in 5-6 hours a day.
Now, I am torn. I would have happily continued coasting through Company A had they not told me I might not get renewed for my new contract. Now that I have options, I am confused.
Considering I can do work for Company A in 4 hours a day, I might be able to pull off signing up for Company C and be overemployed. But what would that mean in taxes? Also, will they find out I am still consulting (considering I will have to give them tax code ST, which is for secondary income?) I could really use the extra income as we've always wanted to buy a home and it's been hard saving considering so many human (I support my family and extended family with health issues; it's complicated but rest assured I am not being taken advantage of) and furbaby mouths to house and feed.
I have never done anything like this before and I feel (kind of) dirty doing it? I'm a real stickler for the rules, but I am out of my element here.
Should I ignore Company B and C, just focus on A and pretend I never got those offers?
Your advice is very welcome!
Throwaway account in case my old/new bosses are on here. I've worked in IT for over 15 years now. Recently, with COVID lockdowns I have been able to find remote work and try my hand at being a contractor. The past year has been easy cruising, but have had a recent shake-up recently. I am hoping for advice!
I need help on potentially becoming "overemployed". Here's the situation:
- I work at Company A as a self-employed consultant. They told me 2 months ago they might not renew my contract once expired (expires this month) because the project I've been working on has run its course.
- I go on a job-hunting craze as I can't afford to be unemployed. People rely on my as sole breadwinner. Animals too lol
- I found Company B and C after 1.5 mos. They have both offered me a full-time permanent PAYE job this week.
- Today, Company A told me they want to sign me on for another 12 month contract. New project, they didn't anticipate they'd get funding but did.
- All three companies are fully remote/work from home.
Company A:
$170k/year pretax. No benefits, no KiwiSaver, and I do my own taxes. I still get paid sickies and paid-time-off and I get to deduct expenses though, which are nice.
The type of work I do here can realistically be done in 4-5hours/day. They trust me there and I am well-respected.
Company B:
$140k/year pretax. Kiwisaver match and I am a full-time employee. Based off the interviews, they're a fast moving company with lots of work and not too many people to do it. I might need to work a full 8 hours in this company. It is well structured and established. They work different projects in a wide scope. Getting a 'toxic work culture' vibe from the interviews.
Company C:
$130k/year pretax. Same as Company B - I will be a permanent employee with usual perks. Based off interviews, they are a very small team wanting to scale. Not too much structure, trying to figure things out, but need all the help they can get from experienced people like me. They have a narrow scope of work. Based on the JD, I might be able to complete work in 5-6 hours a day.
Now, I am torn. I would have happily continued coasting through Company A had they not told me I might not get renewed for my new contract. Now that I have options, I am confused.
Considering I can do work for Company A in 4 hours a day, I might be able to pull off signing up for Company C and be overemployed. But what would that mean in taxes? Also, will they find out I am still consulting (considering I will have to give them tax code ST, which is for secondary income?) I could really use the extra income as we've always wanted to buy a home and it's been hard saving considering so many human (I support my family and extended family with health issues; it's complicated but rest assured I am not being taken advantage of) and furbaby mouths to house and feed.
I have never done anything like this before and I feel (kind of) dirty doing it? I'm a real stickler for the rules, but I am out of my element here.
Should I ignore Company B and C, just focus on A and pretend I never got those offers?
Your advice is very welcome!