Emerge Tax and Accounting

💚 Merry Christmas from the team at Emerge Tax & Accounting❤️
.. and a Happy New Year! 🍾

Who's granting my wish this Christmas?!🎄😜

😬 Mess up when you were DIY-ing your taxes? 😬

Not knowing the tax law isn't a defense in the eyes of the IRS! 👀

Whether you know (or don't know!) every provision of the IRS tax code, you still have to abide by them.

Sounds like something you should leave to a professional, am I right?! 😉

Here's a little sneak peek in to your favorite bookkeeper's letter to Santa this year! 🎅

More money, more problems?!

When it comes to bookkeeping - you can have problems regardless of how much money you've got! 💰

👉 Swipe through to learn how to solve some common bookkeeping diagnostics

And if you're at your wits end trying to balance your books... I'd love to be your bookkeeper!

Consider donating to a qualified charity this holiday season ❤️

It's a win-win-win, you get to help others in need, benefit your community, and you can minimize your tax liability at the same time!

📍 Share one of your favorite non-profits in the comments!

📈 Don't underestimate the power of a year-end bonus in boosting employee morale 📈

December can be one of the toughest, busiest months of the year. Consider showing your appreciation for your hard workers if you answer YES to the questions on the next slide! 💸

👉 Swipe through for our comprehensive, UNDER $25, client appreciation gift guide!

Why the price limit? I promise we're not cheaping out on you! The IRS allows up to $25 as a client gift tax deduction.🎁

Want to splurge on a nicer present? Check with your accountant on whether branded merchandise could be a marketing deduction for your company!

I'm going to be your BIGGEST cheerleader, but I'm also not scared to hold you accountable. 💯

Part of running a successful business can be putting away money for taxes, keeping accurate accounting records, invoicing in a timely manner and other activities that I take note of as your bookkeeper!

Have you ever heard of an accountability partner? Consider me that for your books! 📚

🎅 Our client information is ALWAYS confidential, but we made a little exception for St. Nick! 😉

If you are...

😨 Drowning in receipts
🥵 Feeling the heat of the IRS
😤 Frustrated by DIY-ing your Quickbooks
🤑 Ready to quit worrying about your bookkeeping

This is your sign to send me a message! 💌

The IRS has a lotttt of online resources for taxpayers needing assistance! 🖥️

You can check the status of your refund, view advance payments of your Child Tax Credit, file or amend a return and more.

If you find yourself needing to talk to a real person, you can also call the IRS! Please verify that the number you're calling is correct by going to IRS.gov - or contact your tax accountant to speak with the IRS on your behalf! ☎️

This is SO frustrating!🙄

You've spent hours meticulously entering all of your transactions just to see that your accounts don't balance...

Here's how to troubleshoot:

👉 Check that transaction dates are correct
👉 Verify that the bank statement end date is accurate
👉 Check that the starting balance for the period matches your statement
👉 Look for deposits recorded as expenses (and vice versa!)

Tis the season of thankfulness - and I bet you haven't thought ONCE about what your accountant would be thankful for 😜

Want to make your accountant's year?! Present them with a clean set of books come tax time - it may even lower your tax preparation bill! 💸

📌 This post is LONG - but you're going to want to save it for future reference!

If you're leaving a job with a 401k, you're going to need to make a decision on what to do with your funds.

➡️ Swipe to learn your different options + their tax consequences.

And remember, tax advice varies based on your individual situation - please discuss your 401k decision with a tax professional. 🙋‍♀️

*Cue* your happy dance 🥳

Feel like you're NEVER going to get your invoices sent out on time? Hiring a bookkeeper is an investment in getting paid!

Click the link in my bio to find out how we can work together📲

What do you get when you work with a tax professional?

✔️ Peace of Mind
✔️ Confidence in Getting the Deductions You're Qualified For
✔️ Review of Your Filing Status + Life Changes that Affect Your Return
✔️ Reminders of Important Tax Deadlines
✔️ Security for Your Financial Information

There's a reason more people choose to work with a professional - it's worth it!

When it comes to negotiating payment terms with your vendors, here's what you should be thinking about:

→ Increasing the payment terms for vendors you need to pay
→ Decreasing the payment terms for your client vendors
→ Setting penalties for late payments
→ Creating mutually beneficial relationships for you and your vendors

Negotiating payment terms is a balancing act between keeping each party happy - and don't be afraid to revisit these conversations as needed!

Did you know that you can adjust the withholding from your paycheck at any time during the year?

Consider this your friendly reminder to review your withholdings for any major life changes like:

👉 Getting a new job or becoming unemployed
👉 Marital status changes
👉 You have a new dependent
👉 Your spouse has a new job

Need help figuring out what to put for your exemptions? You can use the FREE Tax Withholding Estimator on the IRS website.

Have you ever had 💥sticker-shock💥 when it comes to your tax bill?

For business owners who don't have money withheld from their paychecks - a big tax bill can be a big problem 😬

Avoid that awful, sinking feeling by saving for your taxes throughout the year! A general rule of thumb is to save 30% of your taxable income for taxes.

How are you supposed to know that number (and what if it fluctuates during the year?!). That's where I can help! Keeping your books up-to-date will help you understand and plan for your taxes every quarter. 📆

Who knows what these 9 states have in common?! 👀

💰 No state income tax!

While we don't recommend basing your next move on state income tax alone - considering state income tax will help you budget for life in your new home.

Want to learn more about a different state's income tax implications? Message me and I can put you in touch with an expert in that state!📲

Let me know in the comments below - does it cost you MORE to keep a current client or gain a new client? 💬

There's no one-size-fits-all answer for this question, so swipe through for a few things to consider!

It's the season of thankfulness, and I'm thankful for YOU! 🤗

Thank you for:
→ referring your friends and family to me
→ supporting my small business by following and sharing my posts
→ being loyal clients year after year
→ being patient and respecting my time and expertise as a business owner

I couldn't do this without your constant encouragement and support!

Money can be a really stressful, awkward topic for a lot of people! 😬

I know a lot of my clients have been hesitant to reach out because thinking about talking MORE about your money can bring up feelings of shame, fear of judgement, and anxiety.

Here's why you can quit worrying!

When we work together, my goal is to help you gain confidence around your money situation. When we know your numbers, we can work towards solutions together to help you feel better! 🤗

There is no financial situation that I am going to judge, I'm only here to help!

Are you ready to gain clarity and confidence around money and quit deleting those monthly bank statement emails? Click the link in my bio to quit feeling alone when it comes to your money!

💬 Tag a business owner whose advice you'd LOVE to hear, or share the best business advice you've ever received!

We've had lots of new business owners follow our account lately, and I want to crowdsource y'alls BEST business advice! 📣

🔮 Did you know one of the easiest ways to know how your business will perform in the FUTURE is by looking in to the past?

In QuickBooks Online, it's super easy to compare your financials year-over-year!

When running a financial report and setting the dates, you'll see an option to compare to a prior period.

You'll want to have context on WHY your numbers are different year-over-year to understand where your business is heading - I can help give you clarity on your YOY changes! 📈

📌 Save this post as a reference for the gift tax limits this year!

In 2022, the annual exclusions for gifts to each donee (a.k.a the person receiving a gift) is $16,000. 🎁

That means if you write a gift check to your child for $16,001, you're generally on the hook for gift taxes on the $1.

What does NOT count as a gift for this annual exclusion?

🎁 Tuition or medical expense paid for someone else
🎁 Gifts to your spouse
🎁 Gifts given to a political organization
🎁 Gifts to a qualifying charity (these are deductible!)

Got a gift tax question? Click the link in my bio to schedule a call and get it answered!

Welcome to a Day in The Life of your favorite bookkeeper!😜

Between new client discovery calls, balancing family, finding time to work out, and actually doing client bookkeeping, my schedule can get a little crazy 🤪

Who else is a MASSIVE planner? Time-blocking my schedule has been a game changer in allowing me to be as efficient as possible for my clients!

Who else can't live without their morning coffee?! ☕

Comment and let us know your must-have morning beverage! 👇

Can you imagine clocking out of your business at 5pm on Friday and not looking at it again until Monday morning?!⏰

For a lot of entrepreneurs, that's a foreign feeling!

The weekend is for catching up on those not-so-fun tasks ... like bookkeeping!! 🙃

If you're working on your business 24/7, it's time to hire a bookkeeper. You didn't start your business to be a bookkeeper - but I did! 👋

Wishing you and your families a Happy Thanksgiving from the team at Emerge Bookkeeping!

I am SO thankful for each and every one of you and your support for my business this year!❤️

📵 Let me say it again, the IRS will NEVER text you regarding a tax issue! 📵

Phone scammers are rampant with trying to get your sensitive financial information - don't make it any easier for them!

If you ever have doubt regarding communication from the IRS, double check on their website to confirm that their contact information is correct. ✅

An attitude of GRATITUDE brings great things!

First off, CONGRATULATIONS! 🥳

Here's what to know if you got married (or plan to!) this year by December 31, 2022 👇

You can now choose between these two filing statuses: (1) Married Filing Jointly or (2) Married Filing Separately.

Generally, choosing to file a tax return using the Married Filing Jointly status can result in lower taxes than filing as Married Filing Separately.

Why? Certain higher thresholds, deductions and credits apply to returns filed Married Filing Jointly!

Please consult with professional tax preparer when your filing status changes to ensure your taxes are filed correctly.

Ready to get back on track?!

Click the link in my bio to find out how I can help you keep your books up-to-date all year round.

Limited spots are available before the 2023 tax season starts, so let's get you on my calendar ASAP! 📅

The IRS is giving the largest adjustment to the standard deduction since the measure was indexed for inflation 📈

What does this mean in simpler terms?!👇

You automatically receive this amount of DECREASE in your taxable income each year (unless you take an itemized deduction!).

Swipe to learn the new standard deductions for each filing status next year!

Want more info on how your taxes will be affected by inflation adjustments? Click the link in our bio to discuss your unique tax situation.

💌 Who do YOU know that could use our help?!

I know my followers are super well-connected, and I want to help your friends!

Whether you have an acquaintance who just started their own business, or know a successful entrepreneur who could use a helping hand, I would really appreciate you sharing this post with a friend!

I'd love to reward your referrals too - have your friend mention that you sent this post! 💌

Ready to keep more money in YOUR pockets? 💰

Consider following one of these 5️⃣ strategies to increase your bottom line!

Need help figuring out where you can cut costs and raise revenue? I want to help, let's set up a call! 📈