Accounting for the Gig Economy

Instructor

Dr. Chris
Harper

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.

Learning Objectives

Identify characteristics of the gig economy and its participants
Distinguish unique circumstances encountered by gig economy participants
Analyze implications of independent contractor considerations
Identify recordkeeping, reporting and attestation issues for independent contractors
Recognize unique regulatory compliance and external reporting considerations
Identify best practices for CPAs who serve independent contractor clientele

Major Topics

Characteristics unique to the gig economy
Independent contractor and employee classification considerations
Recordkeeping considerations for independent contractors
Accounting and reporting issues for gig economy participants
Audit and attestation for clients who participate in the gig economy
Tax and regulatory considerations
The CPA as a trusted advisor for independent contractors

CPE Credits Available

2 CPE

2: Accounting

Things to Know About This Course

Course Level

Intermediate

Professional Area of Focus

Accounting

Advanced Preparation

None

Intended Audience

CPAs in public practice and members in industry

Provider

ACPEN

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