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Reasonable Compensation for Shareholder-Employees of S Corps

REASONABLE COMPENSATION FOR SHAREHOLDER-EMPLOYEES OF S CORPS

Cost Free
Presentation Length 2.0 hours

Recorded DateDecember 10, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Between 2010 and 2013, a flurry of court cases and IRS enforcement brought the issue of what is reasonable compensation for a shareholder-employee of an S Corp to the forefront. CPAs and tax/financial advisors must now prioritize covering this topic with their clients. But what is reasonable compensation? Fortunately, today, there are tools that take the guesswork out of determining appropriate compensation and help build rapport and trust with your clients.

Learning Objectives:


  • Determine the advantage of distribution vs. wages

  • Recall the IRS guidelines and criteria on reasonable criteria

  • Determine the profitability of an S Corp vs. distribution of an S Corp

  • Identify options for determining reasonable compensation

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Paul Hamann is an expert on determining Reasonable Compensation for closely-held business owners.  He has educated more than 100,000 tax advisors and valuators on the topic of Reasonable Compensation and has been published in numerous national and state journals.


Paul 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 chocolate lab, hiking Colorado’s back country or paddling its scenic lakes and rivers.

 

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Jack is the Vice President of Education for RCReports. He is an expert on the topic of reasonable compensation as it applies to S Corp and small, closely-held businesses. Knowing a reasonable compensation figure is only half the equation. Putting a reasonable compensation figure into the business context is where the trusted advisor adds his knowledge and wisdom to benefit the client and their business. Jack is also the owner of Jack Salewski, CPA, a firm focused on tax planning, strategic, operational planning, and tax preparation for small and medium-sized businesses. The planning side starts with a feasibility analysis and ends with an exit strategy. The exit could be a sale, succession, or estate planning. Jack graduated from Regis University (College) in 1979. He immediately joined the staff of Duffy, Gordon, and Hughes, CPAs. In 1982, he became part of Duffy, Griffin and Co, CPAs. In April of 1984, Jack bought out Norm Griffin, and the firm became Jack Salewski, CPA. During the last 35 plus years, Jack has been part of countless businesses going through part or all of the business life cycle.

About Our Presenter

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RCReports is a tool for Tax and Financial advisors to determine Reasonable Compensation for a client. RCReports provides a defensible position to an IRS challenge (for S-Corps), and is an excellent planning and valuation tool. RCReports synthesizes a proprietary blend of IRS criteria, Court Rulings, geographic data and our EXCLUSIVE database of wages to accurately assess Reasonable Compensation for S Corp, Small & Closely Held Business Owners.