anyone know if you can work as a 1099 contractor while you are in your 60 day working period? i've seen no W2 work comments but curious about the side contracting
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I read in another recent thread that Wells uses a third-party to check for employment during the 60-day notice period. If you already had a side gig that they'd previously blessed (let's say you sell soaps at farmers' markets on the weekends), you'd probably be okay but I would absolutely inquire regardless and not just hope. But if you, say, went to a competitor, they'd drop you like a hot potato.
Such a silly question. There is NO WAY Wells could find out you accept new offer or working for somebody else during 60-day periods unless you disclose it. It’s not illegal to work for more than one employer either thus it’s not an issue AT ALL. Talk to HR.
The way to immunize if you can land it is you set up a legal entity with its own EIN and the entity gets paid for services provided. You at your choosing do profit draws.
But… a 1099 co tracking arrangement per se is annual thing. Won’t the 1099 for work done now get generated early next year. So, there’s more to it than a 1099. Just out of curiosity who are these magic information brokers that can tip off that you are on another payroll as a 1099?
No 1099 income except for 1099-R. WF uses a service. I recommend setting up a custom 100% deferred compensation plan (Basically new employee sets up a loan (to you) . These are not to be confused with retirement plans (thou a portion can be allocated to a 401K, stock, etc)
“You can work absolutely no problem. WF allows side gigs so long as there is no conflict of interests.“
This is 100% a lie, the severance agreement explicitly states that accepting ANY other employment during notice period will result in forfeiture of severance.
Technically, you're still employed at WF during the 60 day period and it could bring immediate termination and loss of severance.
You can work absolutely no problem. WF allows side gigs so long as there is no conflict of interests. Read employee handbook. If you are still not convinced talk to HR.
You CAN, but you'll effectively be resigning from WF and will lose your severance and current pay during your remaining 60 day notice period.
Cash jobs are okay.
Under the 60 day period you are still an employee -- I believe if you take another job of any kind and they find out ( withholding , adp's site,etc ) you will lose the severance.
guessing anyway