What about Bob
-
What about Bob?
- July 1, 2013
- Posted by: RCR Admin Team
- Category: Blog
By Paul S. Hamann
In the 1991 movie What about Bob, Bob Wiley (played by Bill Murray) asks Dr. Leo Marvin (played by Richard Dreyfuss) how best to conquer his phobias. Dreyfuss deadpans, “Baby steps.”
I often think about this movie when I am asked by CPA’s and financial advisors about the best way to get their clients to comply with IRS guidelines on Reasonable Compensation for S Corps – My answer is the same as Richard Dreyfuss – “Baby Steps”. Start by sending them an Issue Letter on the subject; we provide our users with an issue letter that you can download and customize to fit your firm’s personality. You may be surprised how many of your clients will be happy to comply, once they understand the issue and its tax implications and consequences.
