Many people are unsatisfied with what their regular salary offers in terms of disposable income or the potential for building wealth.
The good news is that finding a side hustle is easier than ever, and if you are already an accountant then you’ve got skills which can supercharge your efforts to increase your earnings.
From freelancing to consulting online, there’s a multitude of remote side hustles tailor-made for your skills. Here are a few ideas that could turn into lucrative ventures.
Best Side Hustles to Do as a Remote Accountant
1. Freelance Bookkeeping from Anywhere
Working remotely as an accountant doesn’t just provide you with additional income, it gives you the chance to leverage existing skills and branch out into other related fields. One viable side hustle for accountants is freelance bookkeeping. This job typically involves:
- Tracking financial transactions
- Compiling and analyzing data
- Preparing financial reports
Armed with accounting know-how, you’re more than capable of managing these tasks effectively. Plus, they can be done at any time that suits you best, making this a potentially lucrative way to use your spare hours!
There’s no shortage of startups and small businesses looking for qualified individuals to help manage their books from afar. So don’t hesitate, put those accounting skills from your 9-to-5 job to further use in freelance bookkeeping.
In terms of earnings, you’ll make more in this side hustle if you’re a Certified Public Accountant (CPA), as you will in any related full-time role. If this is still a target you’re working towards achieving, you can find out more about how to do this on cpaexamguy.com, and take your income to a new level.
2. Offer Virtual Tax Preparation Services
As an experienced accountant, you are well-equipped to offer clients tax preparation services. This side hustle can be done remotely and allows for flexible hours based on the time sensitivity of tax season. Your tasks would typically include:
- Compiling financial statements
- Calculating taxes owed
- Preparing and filing accurate returns
Remember that this type of service is in high demand once a year, meaning this could serve as a substantial seasonal boost to your income. Many individuals find tax matters complex and tedious, and regulations are especially intricate for other digital nomads, so your exceptional skills can truly stand out here.
With careful planning around deadlines, you can ensure this remote work fits perfectly into your daily schedule without interfering with your main occupation.
3. Consider Remote Financial Consulting Gigs
Dipping your toes into freelance financial consulting can open a new world of remote work opportunities, and match wider industry trends. As an accountant, you have the industry knowledge and expertise to help businesses make sense of their finances. Your tasks might involve:
- Helping businesses plan budgets
- Assisting with strategic financial decision making
- Offering advice on cost reduction and revenue increase
For clients undecided about long-term hires or those lacking resources for full-time professionals, your services can be an economical lifeline. Such contracts may span anywhere from weeks to months, so flexibility is key here.
Follow your own pace, decide your workload and operate based around your personal schedule while bringing in extra income at home or wherever else you choose.
4. Write for Finance Blogs and E-books
If you enjoy writing as much as crunching numbers, then creating finance blogs or e-books can serve as a rewarding side hustle. Your deep understanding of accounting principles makes you a trusted voice in providing valuable financial advice. Some of the topics you could cover include:
- Strategies for efficient tax planning
- Tips on budget management
- Quick guides to financial analysis
The knowledge that seems second-nature to you can be eye-opening information for those unfamiliar with finances, and your keen insights have the potential to attract an enthusiastic audience.
Exploring this aspect of your profession not only brings additional income but also enriches your portfolio by showcasing different facets of your skill set.
5. Running Figures While Running Errands: Online Payroll Management
Online payroll management is yet another side hustle option that you can engage with at your convenience. Businesses of all sizes often require external help when it comes to managing their payroll efficiently and accurately. Tasks commonly involved are:
- Calculating wages based on hours worked
- Deducting tax and social security payments for in-house and remote employees
- Processing direct deposits or preparing checks
With your background in accounting, handling these tasks should come naturally. Besides, online software tools make remote payroll management convenient like never before.
Offering such services doesn’t just provide financial benefits, but it also allows for constant evolution within the subject area and furnishes you with significant professional growth prospects.
6. Become a Personal Finance Coach
With solid financial skills acquired from your day job as an accountant, you’re in an excellent position to offer personal finance coaching. Many people struggle with managing their finances and can greatly benefit from professional advice on:
- Planning budgets and making savings
- Managing debts
- Preparing for retirement
Delivering much-needed guidance remotely via video call or phone means you could create a significant impact while tapping into a consistent revenue stream. Don’t underestimate how valuable your expertise is, as many individuals are willing to pay for sound financial mentoring. And besides helping others gain control of their finances, this side hustle also provides immense personal satisfaction.
7. Offer Excel or Accounting Software Lessons
Your familiarity with accounting software and tools such as Excel, QuickBooks or Sage goes beyond just doing the usual tasks. You can monetize this skill by offering lessons aimed at:
- Teaching individuals how to use these software solutions
- Educating businesses about implementing them
- Giving tips for effective data management
Demonstrating how to harness these powerful tools more comprehensively lets you help others while adding an extra source of income for yourself. Ultimately, it’s a win-win situation wherein knowledge becomes power for both you and your students.
Start Boosting Your Income 100% Online
So there you have it! A handful of intriguing side hustles for accountants to consider for remote work. While these opportunities capitalize on your existing skills, they also offer new learning and growth experiences. This means that not only will your bank balance be healthier, but your employability will also improve.