Accounting and Auditing Hot Topics for 2011. Finance and Administration Roundtable Jeff Schragg Patty Brickett Leslie Pine 703-893-0600. Agenda. Employee vs. Independent Contractor Proposed New Lease Accounting Standards (ASC 840) Update on New Form 1099 Reporting Rules Other Hot Topics
Finance and Administration Roundtable
Do you know who your employees are?
Of course you do
But what about volunteers, interns, temporary workers and workers overseas?
As part of this comprehensive audit, the IRS is focused on
The IRS is looking at:
How do you determine if you have an “employee” working for you?
Relationship of the Worker and the Organization
So what should you do now? BE PREPARED
Making Sense of the New Lease Accounting Rules
Critics of the current standards contend that:
The impact of the new standard will have a number of far reaching impacts on nonprofit organizations, particularly those entities that have a substantial number of operating leases. Some of the anticipated impacts that will have immediate effects on nonprofit organizations include:
Budget for and plan to implement an internal review, technology and process changes required by the new rules, including
Jeff is a tax partner with Argy, Wiltse & Robinson, PC (“Argy”). Jeff counsels clients on highly-complex tax and business matters. He provides his clients a broad and deep knowledge of all areas of state, federal and international taxation. Jeff has coordinated services for both individual and business clients, including exempt
Jeff is the Chair of Synetic Theater’s Board of Directors and a board member of the Fairfax County Chamber of Commerce.
Jeff received is Juris Doctor from The National Law Center at George Washington University and a Bachelor of Arts in Economics and Management from Albion College.
Patty Brickett, Lead Partner of Argy’s International Services Practice, has over 21 years of experience providing International Tax and human resources consulting services to multinational corporations and their global executives. Patty works with clients in all industries and in the not for profit community. Her clients range from those just beginning to expand globally, to those with mature international operations.
Leslie Pine, Partner in the Virginia office of Argy Wiltse & Robinson, P.C. (Argy) has over 23 years of experience providing audit and consulting services to various for profit and non-profit organizations.
As a partner in Argy’s Assurance and Business Advisory Group, Leslie spends the majority of her time overseeing audits, reviews and compilations
All of the materials contained in this course have been created by and belong solely to Argy, Wiltse & Robinson, P.C. IRS Circular 230 Disclosure: Tax advice contained herein is not intended or written to be used and cannot be used for the purpose of avoiding tax-related penalties that may be imposed on the taxpayer. Argy, Wiltse & Robinson, P.C. is not rendering legal advice and assumes no liability whatsoever in connection with its use.