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Accountants already have a skill set that businesses and individuals are willing to pay for. From understanding financial statements and managing tax records to building budgets and identifying cash-flow problems, accounting expertise solves problems that many people would rather outsource.
That creates several opportunities to earn extra money outside a full-time job. You could help a small business organize its books, prepare tax returns during filing season, teach accounting students, or advise business owners who need financial guidance but cannot afford a full-time finance professional.
The best side hustles for accountants depend on your qualifications, experience, available time, and income goals. Some can generate income relatively quickly, while others require an upfront investment of time before they become reliable sources of earnings.
Here are 10 side hustles worth considering, along with their earning potential, startup requirements, and practical steps for getting started.
1. Freelance Bookkeeping
Freelance bookkeeping is one of the most accessible side hustles for accountants because it builds directly on skills you may already use at work. Small businesses, independent contractors, consultants, and online sellers often need help keeping their financial records organized but do not have enough work to justify hiring a full-time bookkeeper.
As a freelance bookkeeper, you could manage income and expense records, reconcile bank accounts, categorize transactions, prepare monthly reports, and organize records for tax season.
Many clients use accounting software such as QuickBooks Online or Xero. Familiarity with one or more of these tools can make it easier to attract clients and complete work efficiently.
How much can you earn?
Freelance bookkeeping rates can range from approximately $20 to $60 per hour for many routine engagements, with more complex work commanding higher rates. Your experience, client type, location, and service scope will affect what you can charge.
For example, two clients paying $250 per month each would generate $500 in monthly revenue. If the work takes five hours per client each month, that amounts to $50 per hour before expenses and taxes.
The important consideration is not just the number of clients you acquire but how efficiently you can serve them.
Read: 26 Tax Deductions for Freelance Designers | Beem
2. Tax Preparation Services
Tax preparation can be a lucrative seasonal side hustle for accountants who understand U.S. federal tax rules and the types of returns they are qualified to prepare.
Individuals, freelancers, gig workers, landlords, and small-business owners may need help organizing tax documents, identifying eligible deductions, and completing their returns accurately. Demand often increases during tax season, giving you an opportunity to concentrate additional work into a defined period.
Your qualifications matter. Paid federal tax return preparers generally need a valid preparer tax identification number (PTIN), and additional requirements can apply depending on the services offered and the state where you operate. Signing returns as a CPA or providing representation before the IRS may require specific credentials or authorization.
How much can you earn?
Simple returns may generate fees of around $100 to $250, while more complex returns involving self-employment, rental properties, or multiple income sources may cost several hundred dollars or more. These are broad estimates rather than guaranteed market rates.
Suppose you prepare 20 returns at an average fee of $200. That produces $4,000 in gross revenue for the season, before software, insurance, marketing, and tax expenses.
The workload can be substantial, especially when clients submit incomplete documents or need follow-up support. Price your services according to complexity rather than treating every return as the same amount of work.
3. Fractional CFO Services
A fractional chief financial officer (CFO) provides financial leadership to a business on a part-time or contract basis. This is generally a better fit for experienced accountants who have moved beyond transaction processing and have worked with budgeting, forecasting, financial reporting, and business strategy.
Small companies may have accurate bookkeeping but still struggle to understand what their numbers mean. A fractional CFO can help them interpret financial performance, forecast cash requirements, plan hiring, evaluate profitability, and make better-informed business decisions.
You are selling insight and decision support, not just reports.
How much can you earn?
Fractional CFO work can command substantially higher fees than routine bookkeeping. Depending on your experience and the complexity of the engagement, rates may range from roughly $75 to $250 per hour or more. Some professionals use monthly retainers instead.
For example, a small business might pay $1,000 per month for a limited forecasting and financial review package. Two such clients could generate $2,000 in monthly gross revenue, although the time commitment would depend on the reporting requirements and level of advisory support.
These services are not suitable for every accountant. Clients generally expect a demonstrated ability to explain financial information in business terms and recommend practical actions.
4. Payroll Management for Small Businesses
Payroll is another recurring service that businesses may outsource. Employers need to calculate wages, account for deductions, maintain payroll records, and meet filing and payment deadlines. Errors can create frustration for employees and compliance problems for the business.
An accountant with payroll experience can help small employers maintain accurate records, review payroll reports, reconcile payroll accounts, and coordinate with payroll software providers.
The exact responsibilities depend on the agreement. Processing payroll is different from providing legal advice about employment classification or taking responsibility for every aspect of a client’s tax compliance.
How much can you earn?
A small business might pay approximately $100 to $400 or more per month for a defined payroll support package, depending on employee count, pay frequency, reporting needs, and the services included.
For example, four clients paying $200 per month would generate $800 in monthly revenue. However, payroll deadlines are fixed, so you need enough availability to respond when an employee’s pay or a tax filing requires attention.
Read: Couple Financial Planning for Gig Workers
5. Financial Modeling and Spreadsheet Consulting
Businesses often need financial models but lack the in-house expertise to build them. Accountants who are proficient with Excel or Google Sheets can turn that skill into a specialized consulting service.
Potential projects include cash-flow forecasts, budgeting templates, pricing calculators, revenue models, inventory trackers, financial dashboards, and scenario analyses.
For example, an online business might need a spreadsheet that estimates how a change in advertising spend affects revenue and profitability. A local service company might want to compare the financial impact of hiring another employee versus outsourcing the work.
These projects can be attractive because they are often deliverable-based rather than ongoing administrative commitments.
How much can you earn?
A straightforward spreadsheet project might earn $100 to $500, while more advanced financial models or dashboards can command $500 to several thousand dollars, depending on complexity and the client’s requirements.
Your effective hourly rate depends on how well you scope the project. A seemingly simple model can take much longer if the client changes requirements, provides inconsistent data, or requests multiple revisions.
6. Accounting Tutoring and Exam Preparation
If you understand accounting concepts well and enjoy explaining them, tutoring can be a flexible side hustle. Students studying accounting, finance, bookkeeping, or business may need help with coursework, exam preparation, financial statements, cost accounting, or managerial accounting.
Experienced professionals can also help candidates prepare for qualifications such as the CPA exam, provided they understand the relevant syllabus and can teach the material accurately.
You do not necessarily need to create a complete course. One-on-one tutoring allows you to begin with a small number of students and adjust your schedule around your main job.
How much can you earn?
Tutors may charge approximately $25 to $100 per hour, depending on the subject, experience, qualifications, and student market. Specialized exam preparation can command higher rates when the tutor has a strong track record.
For example, three one-hour sessions per week at $50 per session would generate around $600 to $650 in gross revenue over an average month, depending on the number of sessions completed.
Remember to account for preparation time. A session that lasts one hour may require additional time to review the student’s work and prepare examples.
7. Financial Writing and Accounting Content Creation
Accounting knowledge is useful beyond traditional accounting roles. Businesses, financial technology companies, accounting software providers, and educational websites need clear content that explains complex financial topics to nonexperts.
Accountants can write blog posts, tax guides, software tutorials, white papers, newsletters, case studies, and educational materials. You might explain how cash-flow forecasting works, compare accounting systems, or create a guide to common bookkeeping errors.
The advantage is that your professional experience can help you explain technical concepts accurately. However, writing for a general audience requires more than subject knowledge. You must also organize information clearly, understand the reader’s needs, and verify technical claims.
How much can you earn?
Freelance writing fees vary widely. Short articles may pay around $100 to $300, while in-depth technical guides or specialized business content may earn $500 or more per project. Rates depend on research requirements, expertise, length, revisions, and client budgets.
For instance, four articles at $250 each would generate $1,000 in monthly gross revenue. That figure assumes you can consistently secure assignments and complete them within the available time.
8. Consulting for Small Businesses and Freelancers
Many small-business owners understand their products and customers but struggle with the financial side of running a business. Accountants can provide targeted consulting to help them make sense of their numbers and improve financial processes.
Possible services include setting up budgets, reviewing expenses, organizing accounting systems, preparing monthly performance reports, improving invoicing procedures, and explaining profitability by product or service.
For freelancers, you might help establish a simple system for tracking income and expenses. For a growing business, you could review its reporting process and recommend ways to make monthly financial reviews more useful.
This type of consulting can be narrower than fractional CFO work. You can focus on a specific problem and deliver a defined result without taking responsibility for the client’s entire finance function.
How much can you earn?
A focused consulting session may cost around $75 to $200 or more, depending on your experience and the value of the service. Project-based engagements may command higher fees when they involve significant analysis or implementation.
A useful starting point is to package a service around a specific outcome, such as a cash-flow review or bookkeeping-system assessment, rather than charging for an undefined amount of advice.
9. Create and Sell Accounting Templates or Digital Products
If you have developed useful spreadsheets, checklists, or educational resources, you may be able to turn them into digital products. Unlike hourly services, a digital product can be sold repeatedly without requiring you to complete a new project for every customer.
Potential products include:
- Monthly budget and expense trackers.
- Small-business cash-flow forecasting templates.
- Invoice and payment tracking spreadsheets.
- Financial statement analysis worksheets.
- Month-end close checklists.
- Accounting study guides and practice exercises.
The key is to solve a specific problem for a clearly defined audience. A general spreadsheet may attract limited interest, while a well-designed cash-flow template for freelancers could be more useful to a particular group.
How much can you earn?
A simple template might sell for $10 to $30, while a more comprehensive bundle or specialized resource could sell for more. Actual earnings depend on demand, product quality, pricing, distribution, and marketing.
For example, selling 40 templates at $20 each produces $800 in gross sales before marketplace fees, payment processing, refunds, taxes, and other expenses. There is no guarantee of achieving that volume.
10. Forensic Accounting and Fraud Examination
Forensic accounting involves examining financial information to identify discrepancies, investigate suspected fraud, reconstruct transactions, or support disputes and legal proceedings.
It can be a specialized side hustle for accountants who already have relevant experience in audit, internal controls, compliance, investigations, or financial analysis.
Potential work may include reviewing transaction records, identifying unusual patterns, tracing funds, assessing financial losses, and preparing findings for legal or business stakeholders.
This is not the easiest option for a beginner. Clients may expect specialized training, professional credentials, strong documentation, and experience handling sensitive or disputed matters.
How much can you earn?
Specialized forensic accounting work may command higher fees than routine bookkeeping, but compensation varies significantly with qualifications, case complexity, and whether the work is performed for a business, law firm, insurer, or other client.
Rather than relying on a generic hourly estimate, research rates in your local market and professional network. Also consider the time required for evidence review, documentation, meetings, and any applicable legal or reporting requirements.
Can Beem Help When You Have a Short-Term Cash-Flow Gap?
Starting a side hustle can involve upfront expenses, from accounting software and professional insurance to training, marketing, and equipment. It can also take time to receive payment after completing work. An invoice may be outstanding even when rent, utilities, or other household bills are due.
Building a separate business reserve can help you handle these timing differences without relying on future client payments. Keep household money, business expenses, and tax savings organized so that you know how much is genuinely available to spend.
If an unexpected expense creates a short-term cash-flow gap, Beem’s proprietary Everdraft™ instant cash advance may be an option for eligible users. It offers access to up to $1,000 without interest or traditional credit checks, subject to eligibility, availability, applicable account requirements, and the terms shown in the app.
Everdraft™ is intended to help with short-term cash needs, not to finance ongoing business losses or replace a reliable income plan. Review repayment terms before accessing funds and avoid borrowing if repayment would make your next pay period harder to manage.
For accountants building a side hustle, the more sustainable goal is to create an additional income stream that eventually pays for itself and contributes to financial stability.
Final Thoughts
The best side hustles for accountants make use of skills you already have while allowing you to work around your primary responsibilities. Freelance bookkeeping, tax preparation, payroll management, tutoring, and financial writing can be practical starting points. Fractional CFO services, financial modeling, and forensic accounting may offer more specialized opportunities for professionals with the right experience.
You do not need to launch a full business overnight. Start by choosing one service, defining a realistic workload, and finding a small number of clients or customers. Track your time, expenses, and results so you can see whether the work is worth expanding.
A successful side hustle should do more than increase your gross income. It should leave you with money after expenses, build on your professional strengths, and fit into your life without putting your main job or financial well-being at risk.
Check out Beem for on-point financial insights and recommendations to spend, save, plan and protect your money like an expert. Download the Beem app today!
Frequently Asked Questions
1. What is the best side hustle for an accountant?
Freelance bookkeeping is a practical starting point for many accountants because it uses existing accounting skills and can generate recurring monthly income. Tax preparation, payroll management, tutoring, and financial writing are also worth considering. The best choice depends on your qualifications, experience, schedule, and income goals.
2. Can accountants make $1,000 a month from a side hustle?
Yes, it is possible, but earnings are not guaranteed. For example, four bookkeeping clients paying $250 per month each would generate $1,000 in gross monthly revenue. Alternatively, an accountant could complete a few consulting or financial modeling projects. Expenses, taxes, time commitments, and the ability to find clients will affect the amount ultimately earned.
3. Can I start an accounting side hustle while working full-time?
Often, yes, provided your employment agreement, professional obligations, and applicable laws allow it. Review outside-employment and conflict-of-interest policies before accepting work. Start with a manageable workload and avoid using your employer’s time, resources, or confidential information for your side business.
4. Do accountants need a CPA license to freelance?
Not every accounting-related service requires a CPA license, but requirements depend on the work and jurisdiction. Bookkeeping and certain consulting services may be available without CPA licensure, while particular tax, attest, and representation activities can have additional requirements. Verify the rules that apply before advertising or accepting a service.
5. Do I have to pay taxes on side hustle income?
In the United States, side hustle income is generally taxable, including income from freelance accounting, tutoring, consulting, and other independent work. Depending on your circumstances, you may need to report the income, maintain expense records, and pay estimated income and self-employment taxes. Check current IRS guidance or consult a qualified tax professional for advice specific to your situation.
