Related Posts
Bain & Company To consultants at MBB’s, Roland Berger, OW, Kearney, Arthur D.Little. When does the openings starts for Junior position.
As I’m checking out for vacancies, I can’t see any at the moment. Usually there’s a timing for when do they open. Any idea? Bain & Company McKinsey & Company Boston Consulting Group Kearney Roland Berger Oliver Wyman Arthur D. Little Limited
Anyone at MBB looking to make a referral?
Hi
Anyone facing this issue?
Additional Posts in Accounting
If my recon doesn't add up, can I blame Russia?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
May be a hot take, but it bothers me when people never take these risks. Accountants generally are too risk averse and don't have side gigs, so they're always going to be depending on their employer.
Then they get fired and have to start from scratch. My view is always have a plan b..
Respect to OP for at least having the idea to have side income
I wouldn’t do the sneaky bit. But all in all, I don’t see how taking on side work threatens our independence. The side work we take outside wouldn’t even blip on a big 4 radar. I don’t see the risk in doing the books or taxes of a small local business for example, that is not complex and could never in a million years afford a big 4 audit. Anyone have insight on this? Just feels like it’s a control thing at a certain point.
Agree
Use your brain and don’t do it.
If you're planning a side hustle and you know you're going to have to keep it secret from your employer, you're getting into risky territory. It sounds like there's going to be a conflict of interest, so you'd be wise to just find something else to do. Or, make sure you get it cleared with your employer before you wind up in a jam.
You will get discovered and will get fired so either resign and do it 100% or don’t do it and continue your current employment situation.
Better Call Saul Goodman
Best comment on Glassdoor…ever.
Remember that ethics portion of the exam you took?
Maybe check fine print.
You can probably do a side hustle that doesn’t conflict with your day job. This is why many get into property management, or trading collectibles. I make about $500 extra a month buying and selling guitars. It’s not big money, but any hobby that makes you money is a good one.
You don't want to attach your name OR make it anonymous?? I'm confused, don't you have to choose one or the other? I guess if you have. partner that could put the LLC under their name then you could get away with this, but I don't think that there's any way to start an LLC without having someone's name attached
You can open it under your parents or spouse’s name?
They would also find out if they ask for your tax returns as part of an independence audit
Not a great move to try and hide things from your employer when your employer is an auditing firm lol. If you were selected for an independence audit they would see it on your tax returns and you’d likely be fired
Los Pollos Hermanos, LLC
Just get an attorney to set it up. I’ve seen LLCs with names of unrelated people that make it hard to trace who the beneficiary is. However, new regulations from FinCEN (BOI) will make it challenging because you’ll likely be listed as the ultimate beneficiary.
BOI reporting may not be required. We shall see.
If you plan to do this, you should also plan to do your business better than your full time job so in case they find out, you still have income, or have the income from the LLC reported under someone else’s name.
Idk what you need to do but I realize after a while a bunch of people have side hustles right in public accounting. Unless you’re doing something in accounting just go for it.
Maybe not post “works at BDO”.
I thought the same thing.
Ask diddy
Well aren’t you precious. 😂😂
Make an attorney the registered agent, probably can’t hide from FinCen, but until they declare you should be fine.
As long as your side hustle doesn't negatively impact your work product, it's not a big deal. All of my SMs and Partners are aware of my LLC and are completely fine with it.
We have a process to go through with HR for approval and as long as there isn’t a conflict of interest you should be good.
Or say f it and don’t tell anyone. I’d choose the first option but I am aware of a couple individuals with second jobs and one with a one-man consulting LLC the firm knows nothing about.