For accountants looking to make more money, side hustles are a great option. You can work in areas like tax preparation, bookkeeping, financial consulting, and more. These gigs can earn you from $300 to over $5,000 each month. If you’re interested, there’s a comprehensive guide here.
In the accounting world today, having multiple income sources is key. The job market is tough, the unemployment rate has risen slightly to 4.1%. But, by having a side hustle, you can boost your income and learn new skills. Accountants have a lot of talents that can shine in different part-time jobs, letting them work on what they enjoy.
As the accounting field changes, so must your career strategy. Side hustles help you make more money and stay competitive in the market. Finding the right side hustle for you can really pay off, both now and in the future.
Key Takeaways
- Side hustles can significantly boost an accountant’s income, ranging from $300 to $5,000+ monthly
- Popular options include tax preparation, bookkeeping, and financial consulting
- The accounting industry has seen a significant employment drop, making income diversification crucial
- Side hustles offer flexibility & the chance to develop new skills
- Accountants can leverage their existing expertise in various lucrative side gigs
Top 21 Side Hustles for Accountants
Ways for accountants to make extra money are many. You can use your financial know-how in various ways. Here are some top picks for boosting your income.
Tutoring
1. Offer tutoring services to accounting students or CPA exam candidates
2. Charge hourly rates based on your experience and expertise
3. Provide one-on-one or group tutoring sessions online or in-person
4. Help students understand complex accounting concepts and improve their grades
5. Potential earnings: $20-$50+ per hour
Utilizing Platforms like Fiverr
1. Create a profile showcasing your accounting skills and services
2. Offer gigs such as bookkeeping, financial analysis, or tax preparation
3. Set competitive prices and deliver high-quality work to earn positive reviews
4. Leverage Fiverr’s large user base to attract clients and build your reputation
5. Potential earnings: Varies based on gigs offered and pricing
Finance Researching
1. Conduct in-depth research on financial topics for businesses or individuals
2. Analyze market trends, investment opportunities, or industry-specific data
3. Provide detailed reports with insights and recommendations
4. Charge per project or hourly rates based on the scope of work
5. Potential earnings: $25-$75+ per hour
Advisory and Consulting Services
1. Offer your expertise to help businesses improve their financial processes
2. Provide guidance on budgeting, cash flow management, or financial strategy
3. Work with startups or small businesses that may not have in-house accounting staff
4. Charge retainer fees or project-based rates for your consulting services
5. Potential earnings: $50-$150+ per hour
Content Writing
1. Write articles, blog posts, or whitepapers on accounting and finance topics
2. Contribute to industry publications or websites to build your credibility
3. Offer ghostwriting services for financial professionals or businesses
4. Charge per word, per article, or per project based on the content type and length
5. Potential earnings: $0.10-$1+ per word or $50-$500+ per article
Freelance Bookkeeping
1. Provide bookkeeping services to small businesses or entrepreneurs
2. Manage clients’ financial transactions, prepare statements, and handle tax filings
3. Offer remote services using cloud-based accounting software
4. Charge hourly rates or monthly retainer fees based on the client’s needs
5. Potential earnings: $20-$60+ per hour or $500-$1,500+ per month per client
Tax Preparation
1. Offer tax preparation services to individuals or small businesses
2. Help clients maximize deductions, credits, and minimize tax liabilities
3. Provide guidance on tax planning strategies and compliance requirements
4. Charge flat fees or hourly rates based on the complexity of the tax return
5. Potential earnings: $100-$500+ per tax return
Create Digital Products
1. Develop e-books, courses, or templates related to accounting or finance
2. Share your knowledge and help others improve their financial skills
3. Sell your digital products through your own website or online platforms
4. Earn passive income from product sales without trading your time for money
5. Potential earnings: Varies based on product pricing and sales volume
Remote Part-Time Positions
1. Look for part-time or contract accounting positions that allow remote work
2. Leverage your skills to assist companies with their financial needs on a flexible schedule
3. Find opportunities through job boards, staffing agencies, or professional networks
4. Earn a steady income while maintaining the freedom to pursue other side hustles
5. Potential earnings: Varies based on position and hours worked
Outsourced CFO Services
1. Provide high-level financial strategy and oversight to businesses as a part-time CFO
2. Help companies manage their financial risks, plan for growth, and make informed decisions
3. Offer your services on a contract basis to multiple clients simultaneously
4. Charge monthly retainer fees or project-based rates for your CFO expertise
5. Potential earnings: $5,000-$15,000+ per month per client
Financial Blogging
1. Start a blog focused on accounting, finance, or related topics
2. Share your insights, tips, and experiences to attract a targeted audience
3. Monetize your blog through advertising, sponsorships, or affiliate marketing
4. Build your personal brand and establish yourself as a thought leader in your niche
5. Potential earnings: $100-$10,000+ per month depending on traffic and monetization
YouTube Channel
1. Create video content related to accounting, finance, or money management
2. Share tutorials, advice, or commentary on relevant topics to engage viewers
3. Grow your subscriber base and monetize your channel through ads or sponsorships
4. Collaborate with other creators or brands to expand your reach and earnings
5. Potential earnings: $1-$10+ per 1,000 views depending on niche and engagement
Review Financial Documents
1. Offer your expertise to review and analyze financial documents for accuracy and compliance
2. Help businesses or individuals identify errors, inconsistencies, or areas for improvement
3. Provide detailed feedback and recommendations based on your findings
4. Charge hourly rates or flat fees based on the complexity and volume of documents
5. Potential earnings: $50-$100+ per hour
Virtual Assistant
1. Provide administrative and financial support to businesses or entrepreneurs remotely
2. Handle tasks such as data entry, invoicing, expense tracking, or financial reporting
3. Leverage your accounting skills to offer specialized services and command higher rates
4. Work with multiple clients on a part-time or project basis to diversify your income
5. Potential earnings: $15-$50+ per hour depending on skills and experience
Grant Writing
1. Help nonprofits or organizations secure funding by writing compelling grant proposals
2. Utilize your financial knowledge to create budgets, projections, and impact statements
3. Research potential funding sources and tailor proposals to their specific requirements
4. Charge flat fees or a percentage of the grant amount for your writing services
5. Potential earnings: $500-$5,000+ per grant proposal
Forensic Accounting
1. Provide investigative services to uncover financial fraud, embezzlement, or misconduct
2. Work with law firms, insurance companies, or government agencies on a contract basis
3. Utilize your analytical skills to examine financial records and identify irregularities
4. Charge hourly rates or project fees based on the scope and complexity of the investigation
5. Potential earnings: $100-$300+ per hour
Payroll Services
1. Offer payroll processing and management services to small businesses
2. Handle tasks such as calculating wages, withholding taxes, and issuing paychecks
3. Ensure compliance with federal, state, and local payroll regulations
4. Charge monthly fees based on the number of employees or payroll frequency
5. Potential earnings: $500-$2,000+ per month per client
Nonprofit Consulting
1. Provide financial guidance and support to nonprofit organizations
2. Help nonprofits develop budgets, create financial reports, and maintain compliance
3. Offer insights on fundraising strategies, grant management, and financial sustainability
4. Charge hourly rates or project-based fees for your consulting services
5. Potential earnings: $50-$150+ per hour
Personal Finance Apps
1. Develop a mobile app that helps users manage their personal finances
2. Utilize your accounting knowledge to create features for budgeting, expense tracking, or investing
3. Monetize your app through paid downloads, in-app purchases, or advertising
4. Continuously update and improve your app based on user feedback and market trends
5. Potential earnings: Varies based on app popularity and monetization strategy
Accounting Software Training
1. Offer training and support services for popular accounting software like QuickBooks or Xero
2. Help businesses or individuals learn how to effectively use these tools for their financial management
3. Provide one-on-one or group training sessions online or in-person
4. Charge hourly rates or package prices for your training services
5. Potential earnings: $50-$100+ per hour or $500-$2,000+ per training package
Financial Podcasting
1. Start a podcast discussing various aspects of accounting, finance, or money management
2. Share your insights, interview experts, or answer listener questions to provide value
3. Grow your audience by consistently releasing engaging and informative content
4. Monetize your podcast through sponsorships, affiliate marketing, or listener support
5. Potential earnings: $500-$5,000+ per month depending on audience size and sponsorships
Remember, making $600 or more from side gigs could mean more taxes. Think about creating an LLC to save on costs and protect yourself.
A Typical Day in the Life of a Freelance Accountant
7:00 AM – Wake up, check emails, and respond to any urgent client inquiries.
8:00 AM – Review the day’s schedule and prioritize tasks based on deadlines & client needs.
9:00 AM – Begin working on bookkeeping and financial reporting for a small business client.
11:00 AM – Take a short break to stretch and refocus.
11:15 AM – Prepare tax returns for an individual client, ensuring all deductions and credits are accounted for.
1:00 PM – Lunch break, respond to emails and phone calls.
2:00 PM – Conduct a video call with a new client to discuss their accounting needs and set up a plan.
3:30 PM – Reconcile bank statements and credit card transactions for another small business client.
5:00 PM – Update financial projections for a startup client based on their recent performance.
6:30 PM – Wrap up work for the day, send progress updates to clients, and plan for tomorrow’s tasks.
7:00 PM – Attend an online webinar to stay aware on the latest changes in tax laws and accounting practices.
8:00 PM – Dinner and personal time to unwind and recharge for the next day.
Understanding the Need for Side Hustles in Accounting
The world of accounting is changing fast. Many accountants are looking for ways to improve their financial future. They’re finding side hustles to be a smart move. These part-time gigs let accountants use their accounting skills to earn more money.
Current State of the Accounting Industry
Accounting jobs are in high demand, paying between $60,920 and $101,150 a year. With a projected growth of 4% from 2022 to 2032. But, more and more students are choosing accounting. This means accountants need to find other ways to earn money.
Benefits of Diversifying Income Streams
Diversifying income through side hustles has many pluses:
- It creates financial safety with multiple money sources
- Allows for exploring specialized parts of accounting
- Boosts skills and opens door for job advancement
- Could lead to earning money passively
Balancing Side Hustles with Full-Time Work
Keeping a healthy work-life balance with a side hustle is key. Accountants should:
- Focus on important tasks and manage time wisely
- Pick side jobs that enhance their accounting skills
- Use tech to make work easier
- Have clear, achievable goals
Engaging in side hustles can make accountants more financially secure. It also helps them improve their abilities. This way, they can grab hold of new opportunities in the accounting field.
Building and Marketing Your Accounting Side Hustle
To grow your accounting side hustle, you need smart marketing strategies. Start by making meaningful connections at industry events. Use social media to show what you can do and find clients.
Personal branding is crucial. Make your online presence stand out. The top bloggers in accounting can make $10,000+ a month. Post useful content often to show you’re an expert.
Always work on getting better in your field. Accountants often have more than $20,000 in student debt. Keep learning to be ahead in the job market.
One in three Americans have a side hustle or income-generating job in addition to their primary occupation.
Remember, the key to success is well-balanced. Work on getting clients and serving them well. Start small, then steadily grow for continued success.
Conclusion and Future Predictions
The future looks bright for accounting thanks to new technology. With financial technology growing, there are more chances to advance. The World Economic Forum says there will be 58 million new accounting jobs. Most of these roles will need advanced skills. This shows how important it is to be open to change and learn new things.
More people are getting side jobs to make extra money. In the U.S., more than 44 million people are doing this. These side jobs can help you gain new skills and keep up with accounting’s direction. There are many options, from online bookkeeping to financial advice. They let you enter new markets while keeping your main job secure.
To succeed in the future, it’s crucial to be good with data and know the latest accounting tools. As AI and machine learning change the field, understanding complicated financial info becomes more key. Stay eager to learn and you’ll be ready for the exciting changes in the accounting world. This will help you have a fulfilling and varied career.
