Accountants are highly paid professionals, but maybe you are looking to add additional income due some free time or financial situation. In this article, we will discuss 14 highly paid side hustles for accountants that you can start right away.
All of the side hustles are recommended based on the fact that you have some finance and accounting skill.
1. Tax Preparation
As an accountant, you could start a Tax Preparation business. You could either either rent out a seasonal kiosk at mall or business complex so that you can get foot traffic of people who are looking to file their taxes.
If you don’t want to invest on physical store, you can do this virtually by filing taxes for people. Try to find a specific type of people to file taxes for so that you have your now little niche. For example, ” Tax Filing For Entrepreneurs”
2. Accounting Video Courses
You could make money by creating and selling video courses teaching people the basic accounting people need in their day to day life. These courses can be sold on Websites like Udemy or Coursera where you can find audience to sell your course.
Another cool idea would be to make these courses for a specific group of people so that you can create more customized curriculum. A lot of parents are looking to teach their kids basic personal finance, you could create a course for that.
3. Private Tutor
You could become a private tutor for college students who are looking to get some help with their accounting classes or exams. This could be lucrative since you can do these on your free time virtually and it doesn’t have any startup costs at all.
To find students, maybe visit a university and put your information on their notice board or maybe even speak to professors to recommend you.
4. Virtual CFO
“Chief Financial Officer” or CFOs handle all the financials for businesses. Reach out to small businesses in your community to see if you can help them. Your job would be to keep track of all the cashflow, give them recommendations to growth, help with preparing lending documents. This could be like another side job but you could visit them once a week or do all the interaction virtually via zoom or phone call.
The best part is that you can become CFO of multiple companies and bring in more money. Start by looking at Jobs on sites like Indeed.com or any other Job search website.
5. Finance Blog
You can make a passive income by writing blogs about personal finance or any tips to help either general public stay in touch with their finance or even write blogs to help businesses and entrepreneurs.
With Blogs, you can get paid via Adsense, MediaVine or Even sponsorships. The only catch with this is that you won’t make much money for at least 6 months to an year because you won’t have a lot of traffic but once you do have traffic, there is so much you can do with it. You can sell courses, you can promote affiliated products to earn a commissions etc.
You will need to setup a WordPress blog and then write often and try to promote yourself via social media to bring in more traffic.
6. Freelance Writing
You can start writing articles and post for other people and get paid Instantly. With this, you will get a fixed payment right away. To find writing gigs, try posting a listing on Fiverr or Finding work on Freelancing sites like Upwork or Freelancer.com
7. Personal Finance YouTube Channel
YouTube could be a great way to make extra money. You will need to create useful videos on personal finance or investing.
Make sure to post videos consistently for at least 3-6 months before you see any real views and you need to focus on the Thumbnail, so people click on the video and secondly the Watch time, which means, how much of the video did people actually watch.
8. Startups Consulting
You can start doing on-Demand consulting for startups. Startups need experienced accountant to make sure that their finance looks good before raising money or presenting to investors. You could help them raise money and make sure their books are organized..
9. Virtual Bookkeeping
You can start offering bookkeeping services to local businesses in your city. You can charge them as much as $500 per month to keep their books.
10. Finance Podcast
You could start a weekly Podcast on Personal Finance to educate people about what they should be doing in this economy.
This is a creative side hustle and it won’t feel like work since you will be interacting with your audience and educating them.
11. Self Publishing
Write Books on personal finance. You can write simple easy to read books with actionable items and checklist and sell it on Amazon via Kindle Publishing. This could be an “Evergreen” business since as you get more reviews for your book, you will keep getting more sales.
After your book is publish, Try to promote it via TikTok or YouTube shorts to get instant sales.
As an accountant, you have a lot of experience with numbers, so you could level up by learning how to trade stocks and options to make an extra side income.
13. Community Mastermind
Start a community mastermind group where you charge people a monthly fee to attend in person at coffee shop or via Zoom. In these sessions, you talk about what’s going on in the economy and latests Investments Hypes or any tips to help them navigate their personal finance.
14. Specialized Service
Instead of doing all sorts of things for people as an accoutant, you could also focus on doing simply one thing.
Such as creating balance sheet or valuation or just taxes. You will focus on ONE product/service and just keep doing it. This will allow you to scale because you won’t have to spend too much time with research and thinking since it will be “Busy work” for you.
Frequently Asked Questions
How can an accountant make extra money?
An accountant can make extra money by doing part time tax consultation, creating personal finance blogs, bookkeeping and much more!
How do accountants make passive income?
Accountants can make passive income by bookkeeping small businesses in their local city. They can charge a recurring fee each month.
How do I become a freelance accountant?
To become a freelance accountant, you will usually need a finance bachelor degree and certifications from your local state if you want to manage publicly traded or reputable company. To manage small companies, you don’t require any degrees and you can learn the basics from courses.
Can you do accounting as a side job?
Yes, Accounting can be done as a side job. You could do part-time bookkeeping, consulting, or even become a CFO at a small business.
What does a freelance bookkeeper do?
Freelancer bookkeeper will usually make sure to document all the cashflows, expenses and create reports to let the business owner know about profitability and runway.
Is tax preparation a good side hustle?
Yes, Tax Preparation is a good seasonal side hustle. You can make decent amount of money by charging little less than those big companies like H&RBlocks.