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Reasonable Compensation & Entity Choice
- October 4, 2022
- Posted by: Abbie Deaver
- Category: Classes
Views: 0Course Description:
Business choice of entity for tax purposes can have a significant impact on business tax liability and a reasonable compensation determination is essential for optimizing the entity choice tax outcomes.
This course will describe how reasonable compensation intersects with entity choice and tax planning with examples.
Register for upcoming sessions:
Wednesday, January 25 @ 2pm CT: Register Here
Monday, February 13 @ 2pm CT: Register Here
Wednesday, February 15 @ 2pm CT: Register HereCost: Complimentary
CPE Credits: 1.0
CE Credits: 1.0
Subject Area: Taxes
Course Level: Basic
Instructional Method: Group Internet Based
Prerequisites: None
Advanced Preparation: NoneWho 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.
Learning Objectives:
- Name factors impacting S corporation’s reasonable compensation determinations
- Describe the effects on §199A of paying less than the reasonable compensation amount
- Identify the effects on §199A of paying more than the reasonable compensation amount
Instructor:
Thomas A. Gorczynski, EA, USTCP is a nationally recognized speaker and educator on federal tax law matters. He is editor-in-chief of EA Journal, author of the Tom Talks Taxes newsletter, co-author of the PassKey Learning Systems EA Review Series, and co-owner of Compass Tax Educators.
He is an Enrolled Agent, a Certified Tax Planner, a National Tax Practice InstituteTM Fellow, a Certified Tax Resolution Specialist, and admitted to the bar of the United States Tax Court as a non-attorney
Tom earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. He received the 2019 Excellence in Education Award from the National Association of Enrolled Agents and the 2018 Member of the Year Award from the American Institute of Certified Tax Planners.
Tom’s tax practice in Phoenix, Arizona focuses on implementing advanced tax reduction strategies and representing taxpayers with complex tax problems before the IRS and in the United States Tax Court.
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§199A and Reasonable Compensation
- September 21, 2022
- Posted by: Abbie Deaver
- Category: Classes
Views: 0Course Description:
§199A is a key tax deduction available to pass-through entities through the tax year 2025. Reasonable compensation determinations have a substantial impact on a taxpayer’s potential §199A deduction and are an important part of tax planning. This course will describe how reasonable compensation intersects with §199A and tax planning with examples.
Register for upcoming sessions:
Tuesday, January 31 @ 2pm CT: Register Here
Thursday, February 2 @ 11am CT: Register Here
Tuesday, February 21 @ 2pm CT: Register HereCost: Complimentary
CPE Credits: 1.0
CE Credits: 1.0
Subject Area: Taxes
Course Level: Basic
Instructional Method: Group Internet Based
Prerequisites: None
Advanced Preparation: NoneWho 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.
Learning Objectives:
- Name factors impacting S corporation’s reasonable compensation determinations
- Describe the effects on §199A of paying less than the reasonable compensation amount
- Identify the effects on §199A of paying more than the reasonable compensation amount
Instructor:
Thomas A. Gorczynski, EA, USTCP is a nationally recognized speaker and educator on federal tax law matters. He is editor-in-chief of EA Journal, author of the Tom Talks Taxes newsletter, co-author of the PassKey Learning Systems EA Review Series, and co-owner of Compass Tax Educators.
He is an Enrolled Agent, a Certified Tax Planner, a National Tax Practice InstituteTM Fellow, a Certified Tax Resolution Specialist, and admitted to the bar of the United States Tax Court as a non-attorney
Tom earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. He received the 2019 Excellence in Education Award from the National Association of Enrolled Agents and the 2018 Member of the Year Award from the American Institute of Certified Tax Planners.
Tom’s tax practice in Phoenix, Arizona focuses on implementing advanced tax reduction strategies and representing taxpayers with complex tax problems before the IRS and in the United States Tax Court.
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Reasonable Compensation for S Corps
- June 27, 2022
- Posted by: Abbie Deaver
- Category: Classes
Views: 0Course 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. 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.
Register for upcoming sessions:
Tuesday, February 7 @ 2pm Central: Register Here
Tuesday, February 14 @ 11 am Central: Register HereCost: Complimentary
CPE Credits: 2.0
CE Credits: 2.0
Subject Area: Taxes
Course Level: Basic
Instructional Method: Group Internet Based
Prerequisites: None
Advanced Preparation: NoneWho 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.
Learning Objectives:
- Demonstrate 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
Instructor:
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 scenic lakes and rivers.
Testimonials:
Giulia Dozzi (CrawfordEllenbogen, LLC)
“This is one of the best CPE courses I have ever attended. I practice in multiple areas – estate and gift, trust, pass-through entity, and individual, and while there are many complex situations to discuss with clients, this is one that it seems the industry decided to ignore. For a time, the audit rate seemed to support the blinders approach, however personally, I don’t agree with this approach. This course not only educated on the issues for the client, but also for the preparer, and provided suggestions as to how to approach the clients who want to close the conversation before it opens. I could not recommend this course enough.”
David Baker (David L. Baker, CPA)
“I’ve worked as a CPA for 40 years, this was the clearest presentation of the reasonable comp issue I have ever heard. Well done.”
Candace Stevens (Number Cruncher LLC)
“Before the webinar, I new Reasonable Compensation was important. After the webinar, I now know that it isn’t just important but VERY important. I now know I need to reach out to all of my corporate owners and educate them on the importance of doing a Reasonable Compensation study completed. I also now that if they will not comply, I will need to fire them. No client is worth a $5,000 penalty. Thank you for sharing this information”
Kelly Confair (Howard Howard & Hodges)
“This webinar is so far beyond informative. I have learned so much in the changes with the changes in the tax laws and how to present to my clients why Reasonable compensation is required and some of the problems it can cause with the IRS, as opposed to just stating the information. I’ll be taking the information back to my firm to further explore the need of having justifications and reasoning for each S-Corporation.”
Jace Wilkins (Sweeney Wilkins and Associates)
“It is hard to find good CPE. Most of the time, I walk away satisfied if about 25% of what was said was relevant. This course was almost all relevant to me and my clients and it was very helpful. Since it was a free course, I was worried that it was just a disguised ad for a product. There was a product advertised but the bulk of the presentation was relevant regardless of whether you got the product or not.”
Richard Swofford (Ronald L. Tharp P.C.)
“GREAT GREAT GREAT. I have taught around the world to businesses and academia. This course could not be organized better! It is the way I would do it if I was doing the course preparations. He loaded us up with attachments and really helpful items.”
Boise Ashbrook (The Tax Office LLC)
“This was by far the best presented and most educational webinar I have ever been in. Thank you for much newly gained knowledge.”
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Reasonable Compensation for S-Corps
- May 19, 2021
- Posted by: Paul Hamann
- Category: Classes
Views: 0On-Demand Via NAEA
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 out of the shadows and placed it forefront as a priority issue for CPA’s, Tax and Financial advisors to cover with their clients. There are tools today that take the guesswork out of determining Reasonable Compensation and help build rapport and trust with your clients.
Register Here
When: On-Demand
Cost: Member $60. Non-Member $100
CPE Credits: 2.0 hours
CE Credits: 2.0 hours
Subject Area: Taxes
Course Level: Basic
Instructional Method: Group Internet Based
Prerequisites: None
Advanced Preparation: NoneWho 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.
Learning Objectives:
- Demonstrate 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
Instructor:
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 scenic lakes and rivers.
Testimonials:
Giulia Dozzi (CrawfordEllenbogen, LLC)
“This is one of the best CPE courses I have ever attended. I practice in multiple areas – estate and gift, trust, pass-through entity, and individual, and while there are many complex situations to discuss with clients, this is one that it seems the industry decided to ignore. For a time, the audit rate seemed to support the blinders approach, however personally, I don’t agree with this approach. This course not only educated on the issues for the client, but also for the preparer, and provided suggestions as to how to approach the clients who want to close the conversation before it opens. I could not recommend this course enough.”
David Baker (David L. Baker, CPA)
“I’ve worked as a CPA for 40 years, this was the clearest presentation of the reasonable comp issue I have ever heard. Well done.”
Candace Stevens (Number Cruncher LLC)
“Before the webinar, I new Reasonable Compensation was important. After the webinar, I now know that it isn’t just important but VERY important. I now know I need to reach out to all of my corporate owners and educate them on the importance of doing a Reasonable Compensation study completed. I also now that if they will not comply, I will need to fire them. No client is worth a $5,000 penalty. Thank you for sharing this information”
Kelly Confair (Howard Howard & Hodges)
“This webinar is so far beyond informative. I have learned so much in the changes with the changes in the tax laws and how to present to my clients why Reasonable compensation is required and some of the problems it can cause with the IRS, as opposed to just stating the information. I’ll be taking the information back to my firm to further explore the need of having justifications and reasoning for each S-Corporation.”
Jace Wilkins (Sweeney Wilkins and Associates)
“It is hard to find good CPE. Most of the time, I walk away satisfied if about 25% of what was said was relevant. This course was almost all relevant to me and my clients and it was very helpful. Since it was a free course, I was worried that it was just a disguised ad for a product. There was a product advertised but the bulk of the presentation was relevant regardless of whether you got the product or not.”
Richard Swofford (Ronald L. Tharp P.C.)
“GREAT GREAT GREAT. I have taught around the world to businesses and academia. This course could not be organized better! It is the way I would do it if I was doing the course preparations. He loaded us up with attachments and really helpful items.”
Boise Ashbrook (The Tax Office LLC)
“This was by far the best presented and most educational webinar I have ever been in. Thank you for much newly gained knowledge.”
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Reasonable Compensation for S Corps
- November 12, 2020
- Posted by: Paul Hamann
- Category: Classes
Views: 0Archived Webcast:
The following webcast was recorded on October 26, 2021.
Watch Here:
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.
When: On-Demand
Cost: Complimentary
CPE Credits: Not available (archived webinars do not offer CPE)
CE Credits: Not available (archived webinars do not offer CE)
Subject Area: Taxes
Course Level: Basic
Instructional Method: Recording
Prerequisites: None
Advanced Preparation: NoneWho 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.
Learning Objectives:
- Demonstrate 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
Instructor:
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 scenic lakes and rivers.
Testimonials:
Giulia Dozzi (CrawfordEllenbogen, LLC)
“This is one of the best CPE courses I have ever attended. I practice in multiple areas – estate and gift, trust, pass-through entity, and individual, and while there are many complex situations to discuss with clients, this is one that it seems the industry decided to ignore. For a time, the audit rate seemed to support the blinders approach, however personally, I don’t agree with this approach. This course not only educated on the issues for the client, but also for the preparer, and provided suggestions as to how to approach the clients who want to close the conversation before it opens. I could not recommend this course enough.”
David Baker (David L. Baker, CPA)
“I’ve worked as a CPA for 40 years, this was the clearest presentation of the reasonable comp issue I have ever heard. Well done.”
Candace Stevens (Number Cruncher LLC)
“Before the webinar, I new Reasonable Compensation was important. After the webinar, I now know that it isn’t just important but VERY important. I now know I need to reach out to all of my corporate owners and educate them on the importance of doing a Reasonable Compensation study completed. I also now that if they will not comply, I will need to fire them. No client is worth a $5,000 penalty. Thank you for sharing this information”
Kelly Confair (Howard Howard & Hodges)
“This webinar is so far beyond informative. I have learned so much in the changes with the changes in the tax laws and how to present to my clients why Reasonable compensation is required and some of the problems it can cause with the IRS, as opposed to just stating the information. I’ll be taking the information back to my firm to further explore the need of having justifications and reasoning for each S-Corporation.”
Jace Wilkins (Sweeney Wilkins and Associates)
“It is hard to find good CPE. Most of the time, I walk away satisfied if about 25% of what was said was relevant. This course was almost all relevant to me and my clients and it was very helpful. Since it was a free course, I was worried that it was just a disguised ad for a product. There was a product advertised but the bulk of the presentation was relevant regardless of whether you got the product or not.”
Richard Swofford (Ronald L. Tharp P.C.)
“GREAT GREAT GREAT. I have taught around the world to businesses and academia. This course could not be organized better! It is the way I would do it if I was doing the course preparations. He loaded us up with attachments and really helpful items.”
Boise Ashbrook (The Tax Office LLC)
“This was by far the best presented and most educational webinar I have ever been in. Thank you for much newly gained knowledge.”