NEW Podcast + International Contractors
Season 1 is LIVE!
For the past few months, me and my 13 year old have been working on this podcast. She wanted to earn some money, and I ran out of things for her to clean in the house…
So I wrote her a To Do list and some SOPs on how to make a podcast :o)
I’m pretty proud of her, but I’m a completely bias mom.
Season 1 is pretty experimental. We let two shockingly well-spoken AI bots have a conversation about emails and concepts you’ve already read here in the newsletter. I actually really liked how the conversations turned out. It helped me process and solidify concepts I already know and agree with.
You may very well hate it because it’s AI, and I’ll survive if that’s the case. This is what experimenting in business looks like! (Don’t worry, I have other ideas for future seasons.)
The 15 Hour Accountant Podcast
Apple Podcast | YouTube | Spotify
If you love it / hate it, I’d love to know. Shoot me a reply…thanks!
International Contractors
I’ve been getting a bunch of questions on international contractors / bookkeepers lately. Here’s a few worth sharing…
(Disclaimer: I’m not an international tax expert, I’m just doing the best research I can and making business decisions from there)
Do your clients interact directly with your bookkeeper? Or are you still the one they interact with (in terms of emails, questions, etc), and you relate that to the bookkeeper. I did find someone I like offshore and he is helping me with the backend. I am still the one exchanging emails from clients,etc, and i am trying to see if it's sustainable for me or if i should have the bookkeeper and client coordinate directly for some bookkeeping related type of questions.
My bookkeeper does exchange emails with my clients when she has questions on categorizing charges or closing the books. Then I'm the one contacting them with reporting or any questions they have on anything else. I started off the same way as you, getting comfortable with her capabilities, written English, and the like. I don't think I had her reaching out to clients for at least a year. Once I did though, it really freed up time!
You don’t have a unique email created for bookkeeping questions correct (something I was considering but not sure if it’s necessary). The bookkeeper just emails from her account. Does she cc you?
Yep! I created her a unique, but generic (i.e. bookkeeper@….com) email address in my Google Workspace account so all communication is tied back to my firm and I have access and control on the backend. She CCs me on most things so I’m in the loop.
I'm assuming you don't have to pay any taxes or report any income since she's outside the country? I have a client that is considering hiring someone for a few hours a month as well and we were guessing he'd not need to pay taxes or report the income...?
I don't withhold taxes or send any 1099s for my particular contractor based on the country she’s located in. I do make sure I have a W-8 on hand for the contractor and there are no tax treaties that need to be followed on my side. We also have a service agreement stipulating our arrangement.
Talk soon!
Erica
Behind-the-scenes in my business this week:
Banging out this email before I run to the Associated Taxpayer of Idaho conference in Boise this morning. I love this conference because its content is different than anything else I attend (I always feel way smarter after leaving) and I get to attend with Ben (husband…fellow CPA).
On the off chance you happen to be at this conference today, let me know and meet up at lunch or the after reception.
Money back guarantee, if you get in there and don’t see the value. No questions asked.
More details in the link above.