Description

Freelance work and other non-permanent employment arrangements are becoming increasingly popular ways for people to earn a living. Although these non-traditional activities offer novel, flexible ways to earn income from diverse sources, they also introduce nuanced recordkeeping, reporting, and attestation issues. We investigate characteristics of the gig economy, employee-versus-contractor considerations, bookkeeping, regulatory compliance, and external reporting considerations. We also explore best practices for CPAs who fulfill the role of trusted advisor for gig economy clients.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Instructor: Dr. Christopher J. Harper, CPA, MBA

Target Audience

CPAs in public practice and members in industry.

Course Objectives

After attending this presentation, you will be able to...Identify characteristics of the gig economy and its participantsDistinguish unique circumstances encountered by gig economy participantsAnalyze implications of independent contractor considerationsIdentify recordkeeping, reporting and attestation issues for independent contractorsRecognize unique regulatory compliance and external reporting considerationsIdentify best practices for CPAs who serve independent contractor clientele

Subjects

The major topics that will be covered in this course include:Characteristics unique to the gig economyIndependent contractor and employee classification considerationsRecordkeeping considerations for independent contractorsAccounting and reporting issues for gig economy participantsAudit and attestation for clients who participate in the gig economyTax and regulatory considerationsThe CPA as a trusted advisor for independent contractors

Prerequisites

Basic working knowledge of accounting and financial reporting.