august2021 - 30
FEATURE
The
Digital
Nomad
Client
By Nellie Akalp
DO YOUR CLIENTS want help setting up their new business
as a " digital nomad " ? Digital nomads are people who use
tech to work remotely from anywhere they hang their hats,
whether it be a beach, a foreign country, or a recreational
vehicle. To help your clients navigate the world of becoming
a digital nomad, here's what you need to know about digital
nomad entrepreneurship and the legal structures that work
best for a digital nomad business.
THE RISE OF THE DIGITAL
NOMAD
Although the digital nomad concept
has been around for many
years, in the past year, the world
significantly embraced the " location
independence " lifestyle when
the pandemic necessitated a shift
to remote working. According to
MBO Partners' report, COVID-19 and
the Rise of the Digital Nomad, the
number of Americans proclaiming
their digital nomad status grew
49%-to 10.9 million in 2020.
The report describes digital
nomads as " people who choose to
embrace a location-independent,
technology-enabled lifestyle that
allows them to travel and work
remotely, anywhere in the internet30
AUGUST 2021 ■ www.CPAPracticeAdvisor.com
connected world. " Typical remote
workers usually stay in one geographic
area, while digital nomads
travel around while working and
running their businesses.
The extent of the digital nomad's
journey is as varied as the types of
businesses run by these traveling
entrepreneurs. While some may
travel for years across the globe,
others may only be nomadic for
short stints, returning to their home
base intermittently before taking off
again.
As the name implies, typical
digital nomads tend to have strong
tech skills and are first adopters of
new technology. The MBO report
also found digital nomads work in
various industries such as information
technology, education, training,
consulting, coaching, research,
sales, marketing, P.R., and creative
services. So really, any business that
can be run remotely using digital
tools is a good fit for the digital
nomad lifestyle.
DIGITAL NOMAD
ENTREPRENEURSHIP
Although starting a business in
the U.S. and running it from anywhere
in the world is entirely possible
technologically, many digital
nomads still need to know how to
do it legally and stay in compliance.
The first step, which may seem
contrary to the spirit of the digital
nomad, is the requirement to claim
permanent residency for the business.
No matter what state your
client decides to call " home, " the
law looks at several factors when
determining the entrepreneur's
http://www.CPAPracticeAdvisor.com
august2021
Table of Contents for the Digital Edition of august2021
From the Editor: Work From Home, or Go Home From Work?
The Importance of Internal Controls
Is It More Efficient to Work From Home?
How to Launch People Advisory In Your Practice
From the Trenches: Client Experience for Today: Audit & Assurance Tools
The Leadership Advisor: A Guide to Better Client Communication
The ProAdvisor Spotlight: New QuickBooks Card Reader Speeds Up Mobile and Contactless Payments
2021 Innovation Awards - Highlighting the Top Technologies for Accounting Firms
The Labor Law Advisor: Employee Relations in Challenging Times
The Millennial Advisor: Back to the Basics
The Staffing & HR Advisor: Diversity, Equity & Inclusion in CPA Practices: Is Everyone Accounted For?
Marketing Your Firm: Using Traditional Marketing to Gain Leads
Apps We Love: New Technology
5 Ways for CPAs to Become Trusted Financial Advisors
AICPA News: A round up of recent association news and events.
The Digital Nomad Client
Lease Changes Add Complexity to Accounting & 2021 Audit Season
How to Help Your Clients Sleep Better at Night
Bridging the Gap: Must-Have Tools and Resources for Work-From-Home
august2021 - 1
august2021 - 2
august2021 - 3
august2021 - From the Editor: Work From Home, or Go Home From Work?
august2021 - The Importance of Internal Controls
august2021 - Is It More Efficient to Work From Home?
august2021 - 7
august2021 - How to Launch People Advisory In Your Practice
august2021 - 9
august2021 - From the Trenches: Client Experience for Today: Audit & Assurance Tools
august2021 - 11
august2021 - The Leadership Advisor: A Guide to Better Client Communication
august2021 - The ProAdvisor Spotlight: New QuickBooks Card Reader Speeds Up Mobile and Contactless Payments
august2021 - 2021 Innovation Awards - Highlighting the Top Technologies for Accounting Firms
august2021 - 15
august2021 - 16
august2021 - 17
august2021 - 18
august2021 - 19
august2021 - 20
august2021 - 21
august2021 - The Labor Law Advisor: Employee Relations in Challenging Times
august2021 - The Millennial Advisor: Back to the Basics
august2021 - The Staffing & HR Advisor: Diversity, Equity & Inclusion in CPA Practices: Is Everyone Accounted For?
august2021 - Marketing Your Firm: Using Traditional Marketing to Gain Leads
august2021 - Apps We Love: New Technology
august2021 - 5 Ways for CPAs to Become Trusted Financial Advisors
august2021 - AICPA News: A round up of recent association news and events.
august2021 - 29
august2021 - The Digital Nomad Client
august2021 - 31
august2021 - Lease Changes Add Complexity to Accounting & 2021 Audit Season
august2021 - How to Help Your Clients Sleep Better at Night
august2021 - Bridging the Gap: Must-Have Tools and Resources for Work-From-Home
august2021 - 35
august2021 - 36
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