My client in the services industry was offered an opportunity to do freelance work for a friend in the USA that was unrelated to her current business.

It would be nice to have the extra $$$$ she thought.

She casually mentioned it to me during our meeting and I made a few points that caused her to pause and reflect before making her decision.

Points I made:

Her current professional liability insurance may not cover this work as it is unrelated to her current business

A contract is always necessary for ALL work done – even for a friend – we all know how working for a friend can sometimes end badly!!

There are potential US income tax implications

She would take time away from growing her business

In the end, I advised her to do a Pros/Cons comparison to see if this was the best fit for her and seek US tax/legal advice.

She was so happy that she had discussed it with me because she hadn’t thought of the potential professional liability side – which was most concerning for her - she has a lot of personal assets.

Am I a lawyer? No! I do not give legal advice.

I am a sounding board.

Helping you think of potential pitfalls that you may not have thought of.

Don’t YOU deserve to have someone like that in your corner?

YOU do!!

Is this what YOU are looking for in an accountant?

Fabulous!!

Let’s have a conversation to see if we’re a good fit!!

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