Tuesday, March 17, 2020

Working 2 Remote Software Engineering Jobs and Need Advice!

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So I may be receiving a couple of job offers pretty soon. Both are 6-fig, full-time, work-from-home software engineering positions. I'm considering accepting both. I have done this before with 1 full-time and 1 part-time freelance gig and it was pretty taxing but I'm thinking about this one a little differently. I'm curious to hear your thoughts.

Plan A:

I will register an LLC then after accepting both offers I will immediately search for and hire an intern on a 1099 who will work for me 20 hrs/week for $25/hr. He/She will come to my place and work on any aspect of either project which I assign in my presence that way I can assist if need be.

I will also be the client of the LLC, to which I pay the intern's salary plus some additional funds to build the company's account balance in exchange for completing the work of my full-time jobs. I will then write off necessary business expenses. I would also like to use the LLC to invest in real estate and other sectors in the future and I'm hoping this business activity can help when applying for loans and lines of credit.

Plan B:

Skip the LLC altogether and just pay the intern to do the work.

Questions:

Will I come out ahead going the LLC route given possible additional taxes?

Can I be a client of my own company?

Should I opt for hiring someone more experienced?

Obviously the companies I will be working for would not want this but is there actually anything illegal about the plan?

Any other thoughts?

Thanks for reading!



Submitted March 18, 2020 at 01:27AM by cruzanman91 https://ift.tt/2QlBf2g

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