Are you an accountant looking to earn some extra bucks? There are many side hustles for accountants that you can explore. Being an accountant, you must have developed important skills like attention to detail, numerical and analytical prowess, and regulatory knowledge. Here are some options for converting these skills into extra sources of income.
20 Side Hustles For Accountants
Here are some side hustles for current accountants who want to earn more or retired accountants:
1. Teaching Accounting Basics Online
If you’ve got a knack for explaining accounting concepts, why not share that knowledge? Teaching accounting online can be a great side hustle, whether through courses, webinars, or one-on-one tutoring. You can teach entry-level accounting to aspiring professionals.
2. Freelance Bookkeeping Services
This involves managing financial records, tracking expenses, and preparing reports for clients for small businesses and entrepreneurs. As an accountant, these clients can trust you with their financial management.
Use Fiverr or LinkedIn to promote your services and accounting software like QuickBooks or Xero to impress clients with professional reports.
3. Tax Preparation for Individuals and Small Businesses
You can help clients file accurate tax returns and maximize deductions. Many individuals and small businesses prefer outsourcing tax preparation to save time and avoid mistakes. Promote your services during tax season through platforms like Upwork or local ads. Use tax preparation software like TurboTax or TaxSlayer to streamline the process and deliver precise results.
4. Financial Consulting for Startups
You can charge fees for guiding startups on budgeting, forecasting, and creating financial strategies. Startups often need expert advice to manage cash flow and scale their businesses effectively. Offer your services on LinkedIn or by networking with startup communities. Use Excel or financial modeling software to provide detailed and actionable insights.
5. Part-time CFO Services
Many small businesses can’t afford a full-time Chief Financial Officer (CFO) but need expert financial guidance. This is where you come in as an accountant looking for a side hustle. As a part-time CFO, you can help businesses with financial planning, strategy, and forecasting.
6. Creating and Selling Accounting Courses
Another idea is to create an accounting course to earn passive income. You can design bookkeeping, taxes, or financial analysis courses and sell them on platforms like Udemy, Skillshare, or even your website. Once your course is up, you keep earning passive income as long as people sign up. But you’ll have to do a lot of digital marketing to excel in this side hustle.
7. Helping Businesses Set Up Accounting Software
Many small businesses need help setting up and navigating accounting software like QuickBooks or Xero. With your expertise, you can guide them through the setup process, customize the software to fit their needs, and provide ongoing support. This is usually a one-time service that pays well.
8. Payroll Management Services for Small Businesses
Small businesses often struggle with payroll because it can be time-consuming and confusing. As an accountant, you can offer payroll management services, ensuring employees get paid on time and that tax deductions are correct. Promote your services to local businesses or freelancers. You can use payroll software like Gusto or ADP to streamline your process and stay compliant with tax laws to stand out.
9. Writing Finance or Accounting Blogs
If you love writing, why not combine it with your accounting knowledge? Starting a finance or accounting blog can help you share tips, explain complex topics, or review financial tools and software. You can monetize your blog through ads, affiliate marketing, or sponsored posts. Platforms like WordPress or Medium make it easy to get started with finance blogs.
10. Forensic Accounting for Legal Cases
This one can be very thrilling, especially if you’ve got a side knack for law and enjoy some detective work with numbers. Forensic accountants dive into the details to investigate financial discrepancies, fraud, or embezzlement in legal cases. You may review financial documents, trace money trails, and provide expert testimony in court if needed. It’s a more niche area but can be highly rewarding (in terms of money!).
Here are ten other side hustles for accountants that are pretty straightforward:
- Monetizing a Finance-Focused YouTube Channel
- Selling Personalized Budget Plans or Expense Trackers
- Building Financial Dashboards
- Testing New Accounting Software as a Beta Tester
- Grant Writing and Financial Reporting for NGOs
- Writing eBooks on Personal Finance or Taxes
- Creating Financial Templates for Sale
- Authoring Guides or Tutorials for Accounting Software
- Financial Coaching for Individuals
- Managing Crowdfunding Campaign Finances
Conclusion
There are plenty of side hustles for accountants to boost their income, enhance their skills, and diversify their professional portfolios. The best part? Many of these side gigs offer flexibility, so you can choose how much time and effort to invest. So, why not take the plunge and turn your expertise as an accountant into extra cash?
