7/14/2023 0 Comments Freelance bookkeeping raleigh nc“Creatives are well-connected, and word spreads like wildfire among their contacts. Padar is focused on growing her creative clients organically and has acquired most of them through recommendations. Word of mouth is a good way to grow this client niche. We touch base by phone or Skype quarterly to check in and make sure everything is going smoothly.” “During our onboarding process, we connect our client’s bank account to digital products, and we hold a virtual meeting to get started. “We email our proposals and engagement letters,” she said. It’s secure, convenient, and allows CPA firms to expand their client base beyond geographic boundaries, according to Padar. That efficiency is key to our ability to offer this service.” They follow our system, and they adapt to our accounting practices. They adjust their processes to our format and use our tools,” she said. ![]() “We give freelancers a technology stack to use. Padar’s toolkit is scalable to almost any small business or sole proprietor. Freelancers may work in a variety of disciplines, but they all have similar accounting and business management needs. Padar offers a few tips for establishing a successful niche practice serving the emerging gig economy by segmenting this particular client base, creating a standard service structure, and building a practice around it:Ĭreate a standard process and establish tools for your freelance clients to use. She estimates just 5% of CPA firms are serving the gig economy in this way. CPAs stay in touch with freelancers through routine phone calls, and they are available to answer questions at any time. The firm performs routine accounting does payroll and annual tax filings and can assist with business plans, incorporation, and estimating quarterly taxes. “We make their lives and our lives a lot easier, and it’s a win-win for both of us,” she said. Padar has realized she can take some of the grunt work out of the busy tax season and spread it across the entire year, making for smoother sailing at tax time. We can also help with regular business-kinds of problems and provide advisory services, too.” ![]() Think outsourced controllership on a micro level. We are an extension of their administrative team. “We are in live files all year because of the cloud. “By virtually joining our creative clients’ teams, we help them with bookkeeping, contractor payments, payroll, etc. “We bring value to their business, and we have found we can give them peace of mind.”įor Padar, peace of mind goes both ways. We become their back office, help them run their business and do it right.”įees start at $500 a month, a price Padar’s clients are willing to pay to avoid the sometimes-complicated details of running a business. “Our freelance clients do their jobs very well, but sometimes the administrative chores can become overwhelming. “What we have created is a business support system,” Padar said. The firm also has a package for commercial real estate agents. New Vision CPA group counts among its client base about 30 freelancers as well as a number of small businesses. Using online accounting products such as QuickBooks Online, Xero Accounting Software, FreshBooks, Practice Ignition, and others, the firm can work with clients from across the country in a virtual office space. ![]() Think “small business solution in a box,” Padar said. “There are tax laws that apply to the gig economy, and we found if we can segment the base model and standardize our price and practice around that, we can create efficiencies,” Padar, a speaker at the AICPA ENGAGE conference on Wednesday, said during a preconference telephone interview.įounded by Padar’s father, James Matousek, CPA, New Vision Group of Chicago has developed a cloud-based system that takes a systematic approach to creating business solutions for freelancers and small business owners. This gig economy is creating a market ripe for building a niche practice, and Jody Padar, CPA, principal and CEO of New Vision CPA Group, is seizing the opportunity to do just that. They are buying into a business model where they structure their work on individual assignments, or gigs. Entrepreneurial workers are moving away from full-time jobs in favor of more freedom and control over their livelihoods. These and other types of independent contractors are finding themselves among approximately 55 million freelancers in the United States, and that number is growing. In today’s workplace, people are forging careers as drivers, photographers, writers, graphic designers, marketers, and other types of service providers.
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