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Thinking Of Using Accounting As A Side Hustle? Here's How To Join The Gig Economy

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Thinking Of Using Accounting As A Side Hustle? Here's How To Join The Gig Economy

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Thinking of using accounting as a side hustle? Here's how to join the gig economy

The gig economy is here to stay, and if you’re a CPA or EA, now is the right time to take advantage of industry trends. When you think of the “gig economy” in the accounting industry, think of it as an opportunity to leverage your free time to make money on the side. 

If you work as an accountant, it won’t take long until you realize joining the gig economy could be the best use of your time. Whether you work at a firm and want to cross off a few gifts from your wishlist or decide it’s time to take your talents away from the firm and work full-time on your own, freelance accounting is an excellent way to make money and put your years of experience in the field to use. 

If you want to know what it takes to enter the gig economy as an accountant, look no further. This blog post will detail all you need to know as you shift into the gig economy and become your boss. 

Who is a gig worker? 

According to CNN Money, the gig economy now employs 34% of the workforce and is anticipated to increase to 43% by 2020. That's a lot of people who could use some help, not just during tax season but all year.

A prevalent misunderstanding is that all gig workers are young people with few or no financial responsibilities. This may have been true at one time, but with over one-third of the American workforce, demographics will be far more diverse. Don't be shocked if an industry veteran seeks your assistance.

According to Payoneer's latest study of worldwide freelancer data, more than half of all freelancers are under 30, with more than a quarter being under the age of 24. However, 33% of US freelancers are beyond the age of 50. Furthermore, just 23% of freelancers worldwide are female; however, the gender ratio in North America is significantly closer to 50-50.

When joining the gig economy, some accountants decide to make that transition because of the freedom it provides. As a gig worker, you don’t have to worry about adhering to a strict schedule. That’s something you can control. Many freelance accountants enjoy the freedom of being their boss. That means you can take the time you need to run essential errands, pick up your kids from school, and enjoy longer meal breaks without worrying about someone looming over your shoulder to make sure you’re completing your work.
In the gig economy, the power is back in your hands. 

How can accountants benefit from joining the gig economy?

Gig workers may become crucial to helping organizations stay flexible during these unpredictable times in the COVID-19 workplace, which confronts various problems. Businesses must manage gig employees appropriately as more individuals choose gig employment to complement their income or supplement their retirement income. These are just two instances of how CPAs may play a strategic role in advising on best practices for managing this industry.

How can accountants find work in the gig economy?

Accountants and the businesses they deal with are searching for methods to increase the flexibility of their talent pool in the face of a weak and turbulent labor market. Gig workers can be a terrific option to staff up during peak season while also allowing for more flexible payroll expenditures.

One way to expand your pool is by word of mouth. As a freelance accountant, you can leverage your existing clients to help them spread the word about your services. 

Another way is to use an existing platform connecting accountants to small businesses and individual filers looking for help during the busy season. That’s one of Taxfyle’s specialties. We have hundreds of thousands of filers looking for help during tax season. We connect them with Pros like yourself, so they have peace of mind knowing their taxes are taken care of while you have a steady stream of work to complete on the side. 

When the busy season is over, the work doesn’t stop at Taxfyle. We have a continuing suite of services to ensure that our Pros can continue finding jobs when the hustle and bustle of tax season dies down. 

What’s the benefit of joining the gig economy? 

As an accountant, you have years of experience. Why not leverage that and your free time for some added income. When joining the gig economy, it’s a career path you can pursue full-time. If that’s not your up of tea, you can always do it on the side. The idea is that you don’t need to leave your job at a firm and give up your benefits. Instead, you can add $10,000 to $25,000 to your annual income. 

At Taxfyle, the average job takes about an hour to complete, and our Pros make an average of $110 per job completed. With that extra income, you can treat yourself to another vacation or by crossing off some gifts from your wishlist. 

How can Taxfyle help Pros in the gig economy? 

Taxfyle is known for providing Pros with consistent work throughout the year. We're an on-demand platform that links customers and businesses in need of assistance with tax returns and forms with tax experts like you. Working with us means interacting with thousands of people that require assistance with their tax preparation. Through the platform, job orders are quickly directed to you.

You may regain control of your work-life balance by becoming an online tax expert. You may work whenever and wherever you choose without having to make financial concessions.

Taxfyle was created by CPAs to help others increase their earning potential at their leisure. Today, we have more than 3,500 pros picking up work from firms across the U.S. Working with us means you can still keep your full-time job and benefits while being able to take home more money.

Legal Disclaimer

Tickmark, Inc. and its affiliates do not provide legal, tax or accounting advice. The information provided on this website does not, and is not intended to, constitute legal, tax or accounting advice or recommendations. All information prepared on this site is for informational purposes only, and should not be relied on for legal, tax or accounting advice. You should consult your own legal, tax or accounting advisors before engaging in any transaction. The content on this website is provided “as is;” no representations are made that the content is error-free.

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published

May 11, 2022

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Antonio Del Cueto, CPA

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