Is it worth having a second job?
A second job can also have tax consequences.
With your main job, the first $18,200 of income is not taxable – it is the tax-free threshold.
If you take up a second job make sure you don’t claim the tax-free threshold from that employer.
Sometimes a second job is just not worth it.
Can I get fired for having a second job?
An at-will employee can be fired at any time, as long as the reason isn’t illegal. Your employer can’t fire you because of your race or in retaliation for reporting unsafe working conditions, for example. If you work in one of these states, then your employer is probably free to fire you for working a second job.
Can you have 2 jobs at the same time?
Firstly, and most obviously, you have the opportunity to increase your income. If you have two separate jobs (like consulting, or multiple part-time jobs), then your income could be more secure than with just one job. If one company goes out of business, for example, you’ll still have income from other work.
Do you get taxed more on a second job?
The tax on a second job is often paid through a BR tax code. BR stands for Basic Rate, which is set at 20%. However, it is possible that your extra income could push your total earnings for a year into a higher tax bracket (if earning over £46,351) – meaning you may have to pay more tax.