Fwiw I set up a C-Corp instead of filing my consulting business as 1099. $800 to set up through a lawyer.
I billed prob $15k in 2023 and paid no taxes on it. Declared more expenses than income, which was some aggressive writing-off but yolo I guess. Accountant ran all the business stuff through my personal filing and at the end of the day he came up with $0 owed on the business side.
Happy to send you the accountant rec, if you’re interested. He’s like the Better Call Saul of accounting.
Your accountant sounds like a cool dude. Can he help me with the following?
Can I change to accrual accounting and claim expenses for sessions that may never take place?
Can I write off the rent on my entire apartment rather than just my home office? Who says my office can’t have a break room, bathroom, kitchen and executive sleep chamber?
Do either of you personally know Julie Ann Emery?
I have a practicing CPA cousin who should be able to at least get me started on the accounting, I’ll probably talk to her tomorrow
Good use case for ChatGPT. At a minimum, make sure you’ve sent an email with the basic details of the engagement (payment terms primarily). Your exposure here is pretty limited as long as you don’t let them accumulate a bunch of unpaid time.
For your new employer, I’d want a written acknowledgement from them that they’re OK with the other work and spelling out what limits they want (is it OK if you do 30 hours for the other company in a busy month? 40? Are there any cases where there could be conflicts of interest?). The first part is CYA to make sure they can’t claim you breached your employment terms. The second isn’t necessary for that, but since you’re talking about your primary employment, you want to do what you can to defuse any potential future conflicts.
This seems good advice.
The only thing I would add is to not make it hard work for either employer.
I.e. write it all up for them. And say. “As discussed” and then ask them to confirm.
got an agreement that is extremely loose, both sides can refuse any particular task (that means me, since I’m not giving them any tasks), either party and can terminate with no penalty, no specific requirements. New boss has signed off on everything with the only ask that I not do anything directly customer-facing. we’ve got some basic terms worked out and I should have it all written tomorrow.
bonus is that this will keep my options vesting and normally when I leave I have 30 days to exercise any vested options, this means the clock is not triggered.
Yeah I honestly think this company is going to zero and probably would not exercise the options but there’s ~10-25% chance there’s a decent exit in the next two years, so getting another year or more to decide is a huge bonus
The SharePoint team is encouraging us to use Viva Engage to ask questions to Teams. I asked the SharePoint team a question, no one responded the whole day, until five minutes before five the senior on the team gives my post a thumbs up emoji without answering the question.
So. Fun times.
I thought this was coming, but my role has been made redundant and I’ve been offered a pay out.
On the one hand. I’d been planning to quit after my parental leave anyway.
On the other hand. There’s a real bad taste in my mouth. After nearly 7 years with this company, it’s a little suspect that my role was made redundant after a) taking extended parental leave as a dad. b) having some mental health stuff going on that caused me to take additional time off earlier in the year
I’ll probably take the cash. But sheesh.