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How to Determine Reasonable Compensation for Closely-held Business Owners Using RCReports Software

HOW TO DETERMINE REASONABLE COMPENSATION FOR CLOSELY-HELD BUSINESS OWNERS

This webinar is designed for CPA practitioners who advise Closely-held SMB’s on Reasonable Compensation who are interested in learning how to determine Reasonable Compensation using the three IRS approaches outlined in the IRS Job Aid: Reasonable Compensation Job Aid for IRS Valuation Professionals using RCReports Software.
Cost Free
Presentation Length 1.0 hour

Recorded DateAugust 21, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaSpecialized Knowledge
Course LevelBasic
Course Description

Determining Reasonable Compensation for Closely-Held SMB’s is not a magical or mysterious process. In fact it is a straight forward process that relies on a basic understanding of the three different methods for determining Reasonable Compensation and when and where they apply. Practitioners armed with this knowledge and the proper tools can easily determine Reasonable Compensation for any SMB.

Learning Objectives


  • Explain the Cost Approach for determining Reasonable Compensations.

  • Explain the Market and Income Approaches for determining Reasonable Compensations.

  • Review case studies for each approach.

  • Assess when and where each approach should be used.

  • Identify when an adjustment to one of the approaches may be warranted.

  • Identify resources for determining Reasonable Compensation, including RCReports Software.



 

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Paul Hamann is an expert on determining Reasonable Compensation for closely-held business owners.  He has educated more than 100,000 tax advisors and valuators on the topic of Reasonable Compensation and has been published in numerous national and state journals.


Paul 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 chocolate lab, hiking Colorado’s back country or paddling its scenic lakes and rivers.

 

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Jack is the Vice President of Education for RCReports. He is an expert on the topic of reasonable compensation as it applies to S Corp and small, closely-held businesses. Knowing a reasonable compensation figure is only half the equation. Putting a reasonable compensation figure into the business context is where the trusted advisor adds his knowledge and wisdom to benefit the client and their business. Jack is also the owner of Jack Salewski, CPA, a firm focused on tax planning, strategic, operational planning, and tax preparation for small and medium-sized businesses. The planning side starts with a feasibility analysis and ends with an exit strategy. The exit could be a sale, succession, or estate planning. Jack graduated from Regis University (College) in 1979. He immediately joined the staff of Duffy, Gordon, and Hughes, CPAs. In 1982, he became part of Duffy, Griffin and Co, CPAs. In April of 1984, Jack bought out Norm Griffin, and the firm became Jack Salewski, CPA. During the last 35 plus years, Jack has been part of countless businesses going through part or all of the business life cycle.

About Our Presenter

Rcreports
RCReports is a tool for Tax and Financial advisors to determine Reasonable Compensation for a client. RCReports provides a defensible position to an IRS challenge (for S-Corps), and is an excellent planning and valuation tool. RCReports synthesizes a proprietary blend of IRS criteria, Court Rulings, geographic data and our EXCLUSIVE database of wages to accurately assess Reasonable Compensation for S Corp, Small & Closely Held Business Owners.