Reasonable Compensation for S Corps
10:00 AM to 12:00 PM PST
Cost: Member: $0 / Non-Member: $30
Wednesday, August 31, 2022

Speaker: Paul S. Hamann
2 Federal Law hours (Topics covering existing tax law)
IRS: 18QC1-T-01708-22-O
CTEC: 1000-CE-5123
Knowledge Level: Basic (No prior knowledge expected)

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided in your confirmation email for you to log in at the designated meeting time. Zoom does require registration before entering the meeting.

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.

Learning Objectives:

• Demonstrate basic advantages of distributions vs 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
• 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

Presenter:

Paul S. Hamann
Paul Hamann is an expert on determining Reasonable Compensation for closely-held business owners. He has educated more than 80,000 tax advisors and valuators on the topic of Reasonable Compensation and has been published in numerous national and state 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 CPAs, EAs, 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 backcountry, or paddling its scenic lakes and rivers.

Cancellation and Refund Policy for Meeting Purchase:
Written webinar cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected]. No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.

This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.