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8 Of The Best Independent Contractor Jobs for 2023

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Best Independent Contractor Jobs

 

Whether you’re interested in breaking away from a traditional day job or are looking for a side gig to boost your income, independent contractor jobs are potentially the answer. There are a surprising number of options available, too, allowing you to find something that’s both lucrative and that suits your skills. If you aren’t sure which independent contractor jobs are worthwhile in 2023, here are eight to consider.

1. Virtual Assistant

A virtual assistant performs the same function as an office assistant, ensuring that a company owner or manager has enough administrative support. Often, primary duties include managing correspondence, overseeing calendars, conducting research, writing reports, and similar tasks.

The main difference between traditional admin assistants and virtual assistants is that the latter work entirely remotely. If you’re interested in virtual assistant jobs, you’ll typically find part-time and full-time positions are available. Additionally, many don’t require working a set schedule, though some may prefer you have availability within a specific window.

Often, all you need to get started is a computer with an internet connection. Having a productivity suit is also essential, as well as the ability to download video conferencing or other communication software.

2. Graphic Designer

Graphic design is a field that lends itself well to independent contractor work. Many professionals choose to freelance, essentially working on a series of projects for a variety of companies. Duties can vary, though many involve activities like creating logos, designing social media ads, and other graphics.

In many cases, graphic designers working as independent contractors are paid on a per-project basis. Additionally, they typically set their own rates and can handle their work at any time as long as they’re able to meet the due dates set by the company.

What you need to get started can vary. Along with the necessary technical expertise, you’ll need a computer with an internet connection and your preferred design software as a starting point. Beyond that, it may depend on the client’s needs.

3. Social Media Manager

Another option for independent contractors is social media manager. These professionals assist companies with their social media accounts, handling tasks like designing posts, updating profiles, responding to comments, answering direct messages, and more. Additionally, they may tackle some research to help boost engagement, such as looking into popular hashtags to find ones that are appropriate for each new post.

Generally, social media managers can handle most of their responsibilities at any time, though comment and direct message responses often need to take place at some point during more traditional business hours. Since there is software that lets you schedule posts in advance, you can create posts at any time and set them up to go live at the desired moment.

If you have social media savvy and access to an internet-connected computer and smartphone, that’s potentially all you need to get started. However, having a marketing background is helpful, so keep that in mind.

4. Accountant

For those with a penchant for numbers and who have (or are willing to get) the necessary education and credentials, working in accounting as an independent contractor is a solid option. You could assist with financial decisions, payroll, tax preparation, accounts payable, accounts receivable, and more. Plus, you may have the ability to work part-time, full-time, or seasonally, depending on your niche.

If you’d like to limit the amount of education required, you could consider freelancing as a bookkeeper instead. While financial know-how is still required, you might not need the same level of degree or other credentials to get started.

5. Translator

If you’re bilingual, becoming a certified translator could be a solid choice. This is another option that lets you work on a project basis, so you can arrange a part-time or full-time schedule based on what you prefer. Pricing is also usually by the project, so you can set a rate that accounts for the amount of time and effort required.

As with many independent contractor jobs, you can typically work remotely. All you need is a computer and document creation software to get started in many cases.

6. Freelance Writer

Freelance writers assist with a wide variety of projects. Some focus primarily on creating blog posts for companies, while others concentrate on website copy. There are many freelance writers who specialize in e-books, as well as those that focus on white papers, grant writing, technical documentation, and other niches.

Generally, getting started as a freelance writer requires little more than a computer with document creation software. Additionally, it’s helpful to have a portfolio of writing samples, ensuring potential clients can see what you have to offer.

When it comes to pay, freelance writers usually charge on a per-project or per-word basis. However, some prefer using an hourly rate, so that’s potentially an option, as well.

7. Housekeeper

If you prefer a more active job, working as a housekeeper is a solid choice for anyone who likes working as an independent contractor. You can focus on homes or businesses, making sure they’re cleaned on a regular schedule based on the client’s preferences.

Often, the startup costs are relatively low. Some housekeepers use cleaning supplies that they provide, while others use what’s offered by the client. You will need reliable transportation, so keep that in mind. However, you can potentially work full- or part-time, which is a bonus if you’re looking for flexibility.

8. Home Daycare Provider

If your area doesn’t have enough daycare centers to support demand in the area, starting a home daycare is a potentially good option. You’ll care for other people’s children in your home, typically beginning a little before traditional business hours and until a bit after the end of a regular workday. Pay rates are potentially quite high, and you can use local daycare rates as a guide.

If you go this route, you typically need appropriate licensing. Additionally, having certain credentials and certifications – including first aid and CPR – is often a must. Make sure to research local regulations before you begin, ensuring you’re able to meet the requirements before you get started.

Do you know of any other independent contractor jobs that people shouldn’t overlook? Have you tried any of the independent contractor jobs above and want to tell others what it was like? Share your thoughts in the comments below.

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Which Is Better For A Small Business: Financial Advisor vs. Accountant

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financial advisor vs accountant

When you run a small business, having a strong financial team by your side is a difference maker. However, you may need to choose between different types of financial professionals. Financial advisor vs. accountant is a common debate among small business owners. If you’re wondering which option is best for you. Here’s what you need to know.

Financial Advisor vs. Accountant: What’s the Difference?

While financial advisors and accounts may have similar knowledge in some cases. They represent two different specialties, each with unique areas of expertise.

In many cases, an accountant focuses on the basics of your financial picture. Thus, ensuring that your ledger remains balanced. Additionally, they typically help with finding tax-saving strategies that align with your situation. That could involve how assets are managed from a tax perspective, recommending specific types of retirement accounts, ensuring you capture every deduction, or similar steps.

Financial advisors are a bit different. While they may also recommend strategies that are beneficial to your taxes, their main goal is to assist you with seizing financial growth opportunities. Along with financial planning, investment advice is commonly a part of what a financial advisor offers.

The unique perspective each of these professionals provides means they can work together to ensure your entire financial picture is well managed. However, not all small businesses can afford to hire both.

Pros and Cons of a Financial Advisor

Financial advisors are adept at planning and recommending paths that can lead to financial growth. Often, they focus heavily on the investment side of the equation, though many will also examine other areas to seek out opportunities. For a small business, financial growth can be a priority, particularly if they’re in a startup phase and are dealing with financial uncertainty or there are plans for various kinds of expansion.

Another area financial advisors focus on is insurance. They can assist with choosing the correct coverage for your business, ensuring any assets are adequately covered and that all critical scenarios are addressed in that coverage.

However, financial advisors don’t typically handle the more transactional side of the equation. Handling ledgers, tracking payments and expenses on a daily basis, and similar services aren’t commonly what a financial advisor offers. This leaves those tasks to someone else, which may not be ideal if you don’t have time to handle them personally and don’t have other financial professionals on board.

Pros and Cons of an Accountant

In many ways, accountants are more transactional. They track and log the flow of money in and out of a business, and make recommendations that often feel more logistical. For small businesses with complex financial activities, this can be a boon. It ensures someone is solely focused on the company’s earnings, expenses, taxes, and reporting, reducing the odds of errors and increasing your chances of securing tax savings.

Accountants can also assess the financial impact of various moves. For example, if you’re considering an acquisition, an accountant can help analyze the situation and produce estimates that give you a clearer picture regarding how proceeding may impact you financially.

When it comes to drawbacks, accountants aren’t as growth-oriented. While they may recommend investment accounts, they usually limit that to options that result in a tax benefit, as that results in a savings for the company. In some cases, this can make the level of financial guidance feel incomplete, suggesting you were looking for advice in the growth arena.

Financial Advisor vs. Accountant: Which Is Better for a Small Business?

Neither financial advisors nor accountants are inherently better for small businesses. Instead, you need to factor in your financial needs, allowing you to select the best option for your unique situation.

If you’re concerned about balance sheets, financial reports, transaction tracking, and tax preparation, an accountant is typically the way to go. Accountants specialize in that type of financial tracking, and they’re particularly adept at identifying tax-saving strategies that allow you to reduce what you owe legally.

For guidance about investments, insurance, and long-term financial plans, a financial advisor could be a better fit, as much of their focus is on financial growth and preservation strategies. They’re also skilled at asset management, which can be beneficial in some scenarios.

Consider what you need from a financial professional, and use that to guide your decision. That ensures you bring the right one on board. However, you can also consider hiring both. Financial advisors and accountants can work together to manage the entire financial picture. That ensures that every base is covered, which could be the better choice in the long run.

When it comes to financial advisor vs. accountant for small businesses, do you agree with the points above? Did you choose one over the other and would like to discuss your reasoning? Did you choose one only to discover that it either wasn’t the right fit or was the perfect match? Share your thoughts in the comments below.

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Here’s What You Should Do If Your Accountant Has Plead Guilty to Tax Fraud

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tax fraud

If your accountant pleads guilty to tax fraud, they’ve done more than make an honest mistake. Tax fraud involves the willful attempt to reduce the filer’s tax obligation through false statements, documents, or claims. These include  underreporting income, inflating deductions, and similar acts. Tax fraud is a crime and is treated seriously. However, the impact your tax preparer’s actions have on you can vary. If your accountant pleads guilty to tax fraud. Here’s what you need to do.

Understand Your Responsibility

First and foremost, it’s critical to understand your level of responsibility when it comes to your taxes. Regardless of who prepares your documents. You are ultimately responsible for your tax return. If you benefited from your accountant’s actions, and those actions were deemed fraudulent. There will be ramifications. This is true even if you weren’t aware of your tax preparer’s illegal acts.

Know What Can Occur

The exact ramifications you’ll face for fraudulent tax returns prepared by your accountant will vary depending on your situation. If you can prove that you had no knowledge of the fraud and played no role in it being committed. The impact is usually purely financial. The IRS will require you to pay any taxes that should have been paid had the returns been correct. Additionally, you may owe interest on the back amount, as well.

If you did play an active role in the fraud. The outcome could be different. Along with having to pay the amount owed. You could face criminal charges. The exact nature of the charges would depend on your fraudulent actions. If found guilty, you could owe additional fines and penalties or even end up with jail time.

Gather and Review Your Tax Returns

Once you know that your accountant has pled guilty. You should gather up every past tax return they handled. While the IRS can only audit your returns for three years. A guilty plea on the part of your accountant can extend the review window. Thus, giving the IRS the ability to look at more past filings.

The IRS will review these returns to look for fraudulent activity and other discrepancies. So it’s wise to start that process yourself. As a result, it’s best to review every one you possibly can. Which allows you to identify fraudulent activity and estimate the impact.

Usually, you want to conduct reviews yourself. However, you may also want to enlist help from a tax professional. This is especially true if you aren’t fully aware of tax law or don’t understand some of the information contained in your return. Who you turn to for assistance is up to you.  Although you may want to consult with a tax attorney or a reputable tax accountant as a starting point.

Consider Amending Past Returns

If during your review you find fraudulent information on your returns. You may want to amend them. Using Form 1040-X, you can submit updated tax calculations, allowing you to correct the issues proactively.

However, you should only file the amendments proactively if you have not received a notification that an issue has already been identified by the IRS. If you’ve received a notice that a given tax year’s return has already been reviewed and a decision regarding whether additional money is owed is being (or has already been) made. Filing an amended return may either not be necessary or could complicate the situation further.

If you’re uncertain about whether to amend a past return after your accountant pleads guilty to tax fraud. Consult with an expert. A tax attorney could provide you with guidance. Thus, helping you determine which approach is best based on your current situation.

Don’t Avoid the IRS

While you may want to take time to review any tax returns that may be impacted by fraud, don’t actively avoid the IRS. Generally speaking, it’s better to engage sooner rather than later.

Precisely how you may want to engage could vary depending on any communications you’ve received from the IRS. If you’ve been notified about specific dollar amounts of back taxes being owed or other penalties related to your returns, the process may be fairly simple. If you don’t disagree with their assessment and they aren’t pursuing criminal charges against you, you may choose to simply pay the amount (or make payment arrangements if the amount is too large to cover) to end the matter.

However, if you disagree with the assessment or are concerned about criminal liability, you might want to contact a tax attorney first. While this can cost a tidy sum of money, it ensures you have access to a professional who understands the nuances of what you’re going through and can speak to the IRS on your behalf.

Additionally, if you’re simply uncomfortable speaking with the IRS, you can enlist support from a tax lawyer. They can help you navigate the situation and find a reasonable resolution.

Exploring Additional Legal Avenues

If your tax accountant’s actions left you with a significant financial liability, you might want to consider suing the preparer for damages. While this can be costly in its own right, as you usually need assistance from an attorney, it is an option on the table.

Whether it’s the right move for you will depend on the nuances of your case. Additionally, you may want to take the accountant’s financial situation into consideration. If the accountant has no way to pay any amount awarded – either through cash, assets, or other sources – even if you win, you may not see any financial reward for the favorable judgment. This could leave you in a tougher situation, as you could still be responsible for your attorney’s fees, at a minimum.

 

Have you ever worked with an accountant who was later convicted of tax fraud? Has your accountant ever put you in a sticky financial situation? Share your thoughts in the comments below.

 

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