For two decades the IRS has been preparing an assault on reasonable compensation for S Corps. Their arsenal is now fully locked and loaded. In it, there is everything from commonsense tools to obscure memos. We will explore key court cases, IRS guidelines, preparer penalties and some of the obscure weapons the IRS has put in place. We debunk common myths and fiction on how reasonable compensation should be calculated and replace it with facts and methodologies that the IRS relies on.
- Discover the basic advantages of Distributions V. Salary/Wages
- Identify IRS guidelines for determining Reasonable Compensation and assess the consequences of an IRS re-characterization of distributions
- Review Reasonable Compensation in the courts and advanced scenarios
- Recognize when Reasonable Compensation applies to your client and identify options for determining Reasonable Compensation
- Review why Reasonable Compensation has become a priority for the SB/SE division of the IRS and review tips from the pros and IRS Red Flags
- None required.
Who Should Attend
CPA & EA practitioners who advise Shareholder-Employees of S Corps on the issue of Reasonable Compensation who are interested in learning about current IRS guidelines, and solutions for advising their clients on the issue of Reasonable Compensation.
Paul Hamann is an expert on determining Reasonable Compensation for closely-held business owners. He has educated more than 30,000 tax advisors and valuators on the topic of Reasonable Compensation and has been published in numerous state CPA society journals.
Paul, along with other experts in their own fields founded RCReports in 2010. RCReports cloud software determines reasonable compensation for Closely-Held Business Owners and is used by CPA’s, EA’s, Tax Advisors, Valuators, Forensic Accountants and Attorneys when they need to determine a Reasonable Compensation figure for a client.
When Paul isn’t in the office he enjoys spending time with his wife and two chocolate labs, hiking Colorado’s back country or paddling its s... Read more
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Date & Time
Monday, October 16, 2023
2:00 PM EDT (see additional timezones)
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