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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.
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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We hate to talk about breaking up before we’re an item – but yes. You can request a full refund anytime in the first 30 days. We’ll want to check in with you and see if we can fix the issue, but if we can’t, we’ll refund 100% of your subscription price and cancel your account.
There are times when every small business owner’s ego can be an asset, although when it comes to Reasonable Compensation and S Corps, having a big ego could cost your client thousands of additional dollars in payroll taxes and QBI deductions. Let’s look at an example: Meet Joan and her over-inflated alter ego Joanna. When Joanna completes a Reasonable Compensation
By Paul S. Hamann & Jack Salewski, CPA, CGMA “I’ll just take distributions, then pay myself reasonable compensation at the end of the year.” Quack, quack. “Holding a meeting is a hassle. I’ll just write a check for my distribution when I do payroll.” Waddle, waddle. Reasonable compensation is payment for the value of work performed by
By Paul S. Hamann & Jack Salewski, CPA, CGMA So how do you know if your S Corp client’s Compensation is Unreasonable? The most efficient way is to stress test it (download stress test here). Outside of stress testing compensation, the next best strategy is to compile credible documentation to back up the Reasonable Compensation
By Paul S. Hamann& Jack Salewski, CPA, CGMA The old adage “Simple isn’t always easy” perfectly sums up the IRS and Court guidelines for determining Reasonable Compensation. At first blush the IRS and court guidelines seem simple enough – but once you start to follow the roadmap the IRS and Courts have laid out – simple quickly