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Self-Study CPE
DOMESTIC TAX ISSUES FOR IMMIGRANTS & ALIENS
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PENALTY STANDARDS FOR THE TAXPAYER AND THE PREPARER
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2021 ANNUAL FEDERAL TAX SEASON UPDATE
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THE SECTION §199A PASS-THROUGH DEDUCTION
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TAX CUTS & JOBS ACT: INDIVIDUAL TAX PREPARATION
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IMPACT OF COVID-19 AND THE TAX CUTS AND JOBS ACT ON LIFE INSURANCE PLANNING
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INTERNATIONAL TAX: CONCEPTS IN A GLOBAL SOCIETY
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MANAGING COMPLEX IRS AUDITS OF MIDSIZE BUSINESS TAXPAYERS - EXPANDED
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INTRODUCTION TO PROCONNECT TAX ONLINE: LIVE DEMO
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UNDERSTANDING PARTNERSHIP TAXATION: DISTRIBUTIONS
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Free cpece webinars
Reasonable Compensation for S Corps

REASONABLE COMPENSATION FOR S CORPS

This course was previously titled: REASONABLE COMPENSATION FOR SHAREHOLDER-EMPLOYEES OF S CORPS
Available Date(s)
Thursday, September 30, 2021: 2:00PM EDT
Tuesday, October 26, 2021: 12:00PM EDT

Cost Free
CPE Credits 2.0 hours
Subject Area 2.0 - Taxes (Federal Tax)
CE Credits 2.0 hours
Course Id# - HURS9-T-01002-21-O
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Series: Enrolled Agents
Course Description

For two decades, the IRS has been preparing an assault on reasonable compensation for S corps. Their arsenal is now fully locked and loaded with 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 will debunk common myths on how reasonable compensation should be calculated and replace it with facts and methodologies that the IRS relies on.
 
Learning Objectives:


  • Determine the basic advantages of distributions v. salary/wages

  • Assess the consequences of an IRS re-characterization of distributions

  • Review reasonable compensation in the courts

  • Discuss the IRS guidelines for determining reasonable compensation

  • Determine when reasonable compensation applies to your client

  • Explain advanced scenarios

  • Review tips from the pros and IRS red flags

  • Review why reasonable compensation has become a priority for the SB/SE division of the IRS

  • Identify options for determining reasonable compensation

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Paul is the Founder and President of RCReports, Inc., a company that provides Reasonable Compensation software tools and consulting services to the accounting industry. Paul has been the visionary behind the creation of RCReports.com, the first online application for establishing Reasonable Compensation for Shareholder-Employees of S Corps. For the past 18 years, Paul has been consulting on compensation as an executive recruiter and consultant to small businesses. Paul has started and led several successful companies since graduating from the University of Colorado, Boulder - School of Business with a Bachelor’s degree in Small Business & Entrepreneurship.

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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.

Additional Materials
2021 Tax Compliance Brief
2021 RC Reports Overview
2021 Sample Report - Scott Stone
Program Outline
Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
Handout Materials
Presentation Slides
Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

Irs

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

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.