payment

nonemployee stock compensation

How to Report Stock Compensation Paid to Nonemployees

The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods and services, under recent guidance issued by the Financial Accounting Standards Board (FASB). Old rules Under existing U.S. Generally Accepted Accounting Principles (GAAP), the FASB requires businesses that give stock awards to independent contractors or…

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cashless transaction

Auditing Cashless Transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your financial statements? Cashless transactions require the exchange of digital information to facilitate payments. Instead of focusing…

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tax return extension

An Extension May Be the Best Business Decision for Your 2018 Tax Return

By now you have most likely heard from your tax advisor or via news outlets about the Tax Cuts and Jobs Act (TCJA).  The biggest tax overhaul since 1986, these new rules – along with new revenue recognition rules and partnership audit rules – have given individuals, business owners, and their advisors a great deal…

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