The 2 Cents Business Podcast

021 - Do Less/Play More...Outsourcing Like A Boss

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Outsourcing doesn’t have to be a chore… it’s actually one of my go to when it comes to growing and scaling my business.  The step that I recommend taking before hiring a more permanent team (aka employees).

But before you go on a team building spree, you have to know the 3 tests that defines an independent contractor relationship...and pass them.

Once you’ve passed the test...all systems are a go.  Go forth and team build to grow. Get back into your zone of genius, your core activities… by doing less (yourself) so that you can play more.

Highlights of this episode:

  • 1:12 timed highlights
  • 00:45  What is outsourcing? What’s the difference between an employee and an independent contractor?
  • 01:30  What are some tax implications you should consider when outsourcing
  • 03:09  What are the tax guidelines for defining an independent contractor relationship
  • 08:49  Advantages of Outsourcing
  • 11:09  Disadvantages of Outsourcing
  • 13:03  Examples of general tasks to outsource
  • 13:45  Examples of accounting tasks (note: not every accountant does all of these tasks and this isn’t an exhaustive list)
  • 14:50  Who should outsource their accounting
  • 15:34  Why you should outsource your accounting
  • 16:00  How to outsource your accounting
  • 16:29  Three steps to a smooth transition
  • 21:00  How to work with us

    • RESOURCES

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    Resources List

    WORK WITH COMMON CENTS

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    Templates

    Planners & Printables

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    Want to chat and hangout with me, Joyce?  You can find me on Facebook, Instagram or Twitter…as @thecommoncents.

    You can find all the links and additional show notes at:  https://www.thecommoncents.com/podcast

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    The 2 Cents Business PodcastBy Joyce M Washington, CPA
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