Author archives: Lydia Ritze

October 17 , 2018 | Posted by Lydia Ritze |

Independent or employed – Understanding the ins and outs of employee classification

With the rise of independent contractors in the new, shared economy, distinctions between employees and contractors are increasingly blurred. The tax implications of misclassification can be significant, and the IRS, the U.S. Department of Labor (DOL) and even some states are weighing in on employee classification. Here’s a look at the issues.

Tax advantages

Businesses…

January 23 , 2018 | Posted by Lydia Ritze |

Are you ready for revenue recognition?

As the effective date of the Financial Accounting Standards Board’s new revenue recognition standard approaches, there’s increasing pressure on companies to assess their customer arrangements and implement the new guidance. For private companies and not-for-profit organizations, the new standard will apply to annual reporting periods beginning after December 15, 2018 (including interim periods). Understanding the…

March 21 , 2017 | Posted by Lydia Ritze |

Shift in Lease Accounting Could Cause Headaches

Almost every manufacturer leases equipment or real estate. For decades, companies were not required to report many lease-related assets and liabilities on their balance sheet. That is all about to change under a controversial new lease accounting standard that was issued in early 2016.

Shifting the reporting paradigm

Historically, under U.S. Generally Accepted Accounting Principles…