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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. Whether for Tax Compliance, Normalization or Planning, RCReports has a report to fit your need.
W-2 or 1099 for Shareholder-Employees of S Corps? (33,614 Hits)Jan 01, 2022
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How to Stress Test a Reasonable Compensation Figure (9,931 Hits)Mar 01, 2022
IRS lays out steps to keep Reasonable Comp challenges out of Tax Court (7,743 Hits)Apr 01, 2022
Step by Step Guide: How to Calculate Reasonable Compensation (5,600 Hits)Dec 01, 2019
RCReports provides instant and accurate insights into Reasonable Compensation for closely held businesses to ensure your clients remain compliant, minimize risk and realize maximum payroll tax savings. With in-built industry, legal, IRS criteria and salary data intelligence, tax advisors, valuators and forensic accountants gain access to credible and independent Reasonable Compensation calculations with guaranteed cover in the event of an IRS audit or litigation.
Access reports for planning, compliance or normalization within minutes through an intuitive, cloud-based platform, removing all guesswork and providing full documentation and transparency around your clients’ compensation.
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What The Experts Say
in minutes not days
and your clients
By Michael Gregory, ASA, CVA, NSA, MBA, Qualified Mediator with the Minnesota Supreme Court Our guest contributor this month is Michael Gregory. Former IRS Territory Manager and key architect of the IRS Job Aid on Reasonable Compensation shares his wisdom on how the Job Aid has stood the test of time. IRS valuers identified reasonable
By Stephen D. Kirkland, CPA, CMC, CFF You know that your clients may be extremely astute when it comes to manufacturing widgets. But managing business operations is a different challenge. The boards and officers of closely held businesses (and nonprofits) often lack the knowledge needed to appropriately set compensation amounts. Yet this is a vitally
By Paul S. Hamann & Jack Salewski, CPA, CGMA This is a true story. Names & identifying details have been changed to protect the innocent. Nancy had a feeling that $40,500 was a good Reasonable Compensation figure for her as owner of Nancy’s Nail Salon. She didn’t have any facts or data to back it
In a recent memorandum to its examiners and appeals agents, the IRS lays out steps to keep Reasonable Compensation challenges out of Tax Court. Great, you say, nobody wants to go to court!
Not so fast. The option of filing a petition in Tax Court provides taxpayers with time and leverage. By following the steps in this memo, IRS examiners can prevent taxpayers who cannot reach a resolution on Reasonable Compensation from filing a petition in Tax Court. This means:
1. Tax must be paid now. When filing a petition with the Tax Court, taxpayer can avoid paying the tax until the matter is finally resolved.
2. Leverage Lost. Filing or even the threat of filing a petition with the Tax Court can give taxpayers and their advocates’ leverage to get the appeals agent to settle the dispute favorably.