The Emerald Corner

Dive into the crucial distinctions between hiring an employee and a contractor in our latest video from the Emerald Corner! Kimberly Ferguson, CEO and founder of Emerald Expectations Accounting, walks you through the key tax implications and criteria defined by the IRS to help you make the right decision for your business. Whether you're a small business owner or a startup entrepreneur, understanding these differences can save you from potential tax pitfalls. Don't miss out on these insightful tips that could significantly impact how you expand your team. Perfect for anyone looking to navigate the complexities of tax season with ease. Watch now to ensure your hiring practices are in line with IRS guidelines! Schedule your tax consult with us today 👉https://calendly.com/emeraldexpectations/tax-strategy-consult Subscribe: 👉 @emeraldcorner Timestamps 00:00:00 - Introduction to Employee vs. Contractor 00:00:19 - Welcome and Overview by Kimberly Ferguson 00:00:35 - Introduction to Tax Tip Tuesday 00:00:59 - The Importance of Correct Classification 00:01:39 - Criteria 1: Behavioral Control 00:02:01 - Criteria 2: Financial Control 00:02:58 - Criteria 3: Type of Relationship 00:03:24 - Consideration: Exclusivity in Employment ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelor’s Degree in Business Management, a Master’s Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies #selfemployed

Get ahead this tax season with our latest video on essential last-minute tax tips for 2023! Join Kimberly Ferguson, CEO of Emerald Expectations Accounting, as she guides you through quick and crucial considerations to ensure you're fully prepared before the April 15th deadline. Whether it's maximizing your IRA contributions, ensuring all deductions and credits are accounted for, or deciding if you need to file an extension, this video has you covered. Don't miss out on these practical tips to navigate your tax filing efficiently. Perfect for individuals looking to optimize their returns or minimize liabilities last minute. Watch now to make your tax season a breeze! Schedule your tax consult with us today 👉https://calendly.com/emeraldexpectations/tax-strategy-consult Timestamps 00:17 - Welcome by Kimberly Ferguson, CEO of Emerald Expectations Accounting 00:33 - Overview of Tax Tip Tuesday 00:59 - Tip #1: Maximizing IRA Contributions 01:28 - Tip #2: Considering All Eligible Deductions and Credits 01:28 - Tip #3: Reviewing Your Return for Accuracies 01:55 - Tip #4: Filing an Extension if Necessary 02:30 - Tip #5: Consulting with a Tax Professional for Complex Situations ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelor’s Degree in Business Management, a Master’s Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies #selfemployed

In this video, we'll guide you through the decision of choosing between standard or itemized deductions for your taxes. Understand the differences and make the right decision for your tax return! Don't let filing taxes be a scary process. Watch now to become a fearless tax pro. Don't forget to like, share, and subscribe for more informative content on entrepreneurship and finance. #taxation #payment #entitytypes #business #financialmanagement #taximplications #income #profits #taxes #entrepreneurship Schedule your tax consult with us today 👉https://emeraldexpectations.com/schedule Timestamps 00:00:18 - Welcome 00:00:34 - Introduction to Tax Tip Tuesday 00:00:59 - Explaining Standard Deduction vs. Itemized Deduction 00:01:44 - Standard Deductions for 2023 vs. 2024 00:02:18 - When to Choose Standard or Itemized Deductions 00:02:53 - What Can Be Included in Itemized Deductions 00:04:17 - Explanation for Why Some Deductions May Not Be Taken ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emera... ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpec... 👉Follow me on Instagram: https://www.instagram.com/emeraldexpe... 👉Follow me on LinkedIn: https://www.linkedin.com/company/emer... 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/l... Run Payroll for Your Company: https://gusto.com/?referral_token=kim... About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelor’s Degree in Business Management, a Master’s Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies #selfemployed

In this video, we'll answer the question: can you deduct a portion of your profits donated to charity? Charity is important, and it's great to do your part to help out. However, is it possible to deduct a portion of your profits donated to charity? In this video, we'll discuss the rules surrounding this matter and help you decide if it's something you should consider doing. Timestamps 00:00 Welcome & Call for Tax Questions 00:48 Can I deduct my charitable donations... 01:04 As an individual? 01:28 As an LLC or Partnership? 02:14 As a C Corp? 02:37 Closing ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies #selfemployed

This video is a bit different than the others. Normally, I talk about how I solved my business problems. This time, I'm sharing with you the moments where I made the biggest mistakes and how they affected my business. I hope you find the video helpful and that it helps you prevent similar problems in your own business! Timestamps 00:00 Welcome & Intro 01:14 Mistake # 5 02:09 Mistake # 4 04:12 Mistake # 3 06:24 Mistake # 2 07:26 Mistake # 1 08:27 Recap ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo

If you're thinking of starting your own business, then you need to know about self-employment taxes. This video will help you understand these taxes and avoid any surprises when filing your taxes. We'll also discuss who should pay them and what happens if you have no income. So be sure to watch this video to understand self-employment taxes in detail! Timestamps 00:00 Welcome 00:59 What is Self-Employment Tax? 01:45 Who has to pay Self-Employment Tax? 02:23 What if I don't have any income? Do I still pay Self-Employment Tax? 03:18 Closing ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies #selfemployed

Ever wonder what it's like being in the accounting industry today? Well, wonder no more! In today's tell all, I'll share with you how to become an accountant in today's world, things to look out for when hiring an accountant, and some of the many woes of being a part of this industry. Timestamps 00:00 Intro 01:04 How do you become an accountant? 01:25 Problems with Bookkeepers today - Business Owners BEWARE! 02:42 All about Tax Preparers 03:10 All about Enrolled Agents 04:26 All about CPAs 06:34 Problem 1 - Everyone's a bookkeeper 08:16 Problem 2 - Everyone's an accountant 10:10 Problem 3 - Everyone wants your services / knowledge for free 12:55 Problem 4 - The Accounting Industry is dying 14:43 A Call to Action - Appreciate the great Accountants in your life 16:25 Recap ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emera... ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpec... 👉Follow me on Instagram: https://www.instagram.com/emeraldexpe... 👉Follow me on LinkedIn: https://www.linkedin.com/company/emer... 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/l... Run Payroll for Your Company: https://gusto.com/?referral_token=kim... About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo

The best tax planning can only be done DURING the tax year. So, let me share with you a few quick tips you can implement before 12/31 to maximize your tax deductions and minimize that dreaded tax bill! Timestamps 00:00 Welcome 01:30 Why you should meet with a Tax Strategist. 01:55 Tip # 1 02:50 Tip # 2 03:25 Tip # 3 05:10 Closing Recap ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo #taxtips #taxstrategy #taxstrategies

Hiring a CFO can be a huge step for any small business owner or CEO. In this video, I’ll walk you through what a CFO is, what they do, pros & cons of working with one, and how an Outsourced CFO can help your business! Timestamps 00:00 Intro 01:15 What is an outsourced CFO? 01:52 What is the difference between a CFO and all the other types of “Accountants” 04:51 What kind of businesses can benefit from a CFO 06:15 The pros of working with an outsourced CFO 10:51 The cons of working with an outsourced CFO 13:15 How an outsourced CFO can help your small business 16:24 Recap ⭐Our clients think we do a great job ⭐ Testimonials: https://www.google.com/search?q=emerald+expectations+accounting&oq=emerald+expectations+accounting ✅Work with us: https://emeraldexpectations.com/schedule Let's connect 👉Follow me on Facebook: https://www.facebook.com/EmeraldExpectations 👉Follow me on Instagram: https://www.instagram.com/emeraldexpectations/ 👉Follow me on LinkedIn: https://www.linkedin.com/company/emeraldexpectations/ 💡Resources to get you going Set Up a Limited Liability Company LLC: https://thelegalpreneur.com/product/limited-liability-company-llc-filings/ref/81/?campaign=emerald Run Payroll for Your Company: https://gusto.com/?referral_token=kimberly4538&utm_source=inapp About us. Kimberly Ferguson is the face behind Emerald Expectations Accounting. She has a Bachelors Degree in Business Management, a Masters Degree in Accountancy, and is an Enrolled Agent with the IRS. She is also a Certified CFO through the CFO Project. Founded on the principles of Integrity, Respect and Excellent Customer Care, Kimberly started her company because she hated the way she saw her clients being treated while working at another accounting firm. She wanted to serve small business owners in a way that actually made a difference in their lives. -- DISCLAIMER – Kimberly Ferguson, Emerald Expectations Accounting LLC and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with Kimberly Ferguson or Emerald Expectations Accounting. You should consult your own tax, legal, and accounting advisors for professional advice. #smallbusiness #smallbusinessowner #finance #financetips #outsourcedaccounting #cfo

In this video, we're going to be talking about the Pitfalls of an S Corp. I'll go into detail as to why an S Corp may not be right for you at this stage of your business. When it comes to S Corps, they can offer tax advantages, such as pass-through taxation, but contrary to what TikTok and Instagram are tell you, there are several reasons why this business structure might not be for everyone. But let's say you've been in business for a few years, and you're wondering about an S Corp, I'll also share with you a few signs that you just might be ready to take on the infamous S Corp. Before jumping on the S Corp bandwagon, it is vital to evaluate your business' specific needs, growth plans, and long-term goals. Consulting with a qualified tax strategist is vital to understanding the implications of choosing an S Corp for your specific situation. Every business is just a little bit unique, and what works for others may not be the best choice for you. I'll also share the number one benefit of owning an S Corporation, and discuss some of the requirements of owning one, such as maintaining a "reasonable compensation" for any shareholders. And yes, we'll discuss a little bit of what it means to pay yourself a "reasonable compensation." Stay informed, review the pros and cons, and make an educated decision that aligns with your goals and aspirations for your family and for your small business. For more valuable insights on business structures, taxation, and entrepreneurship, subscribe to my channel and join our Emerald community! ___ If you are in need of accounting assistance or would like help with purposeful growth in your business, we'd love to help! Schedule your free Right Fit call here: https://Emerald.as.me/right-fit If you don't have a tax professional, please feel free to reach out to us here for a free consultation: https://Emerald.as.me/right-fit-tax If you are in need of tax reduction strategy assistance, we'd love to help! Schedule your free Tax Strategy Right Fit call here: https://Emerald.as.me/right-fit-tax Disclaimer: As always, this is not tax advice. This video is meant for informational purposes only. Please, consult a tax professional for advice regarding your specific situation. #S #SmallBusiness #Taxation #BusinessOwners #ChoosingWisely #Entrepreneurship #BusinessMistakes #BusinessGrowth #FinanceTips #BusinessOwnership #CorporateStructure #Startups #LimitedLiability #BusinessFormation #BusinessPlanning #TaxStrategy #BusinessDecisions #BusinessOwnership