The Official Showdown: Employee vs. Contractor

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!

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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

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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.

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