CPA - medium firm
CPA - large firm
Enrolled Agent
Many myths surround the topic of Reasonable Compensation for S Corp shareholders. While it may not be shocking to hear that many social media personalities get the facts on Reasonable Compensation wrong, it may be more surprising to learn that large media outlets, well-known brands, and thousands of CPAs and EAs also misunderstand the Reasonable Compensation requirements. With the IRS primed to focus on Reasonable Compensation in the coming years, now is the time to shore up your knowledge and get the facts straight to save your clients and your firm from IRS penalties while maximizing client tax savings through proper entity analysis and tax planning.
Learning Objectives:
- Identify the IRS-recognized methods to calculate Reasonable Compensation
- Differentiate between optimal and reasonable compensation. Discuss how reasonable compensation impacts the QBI deduction
- Recognize if a business is more advantageous to remain a pass-through entity or make the S Corp election
Kristen Keats
Sherwood Tax and Accounting
Owner/CPA
kristen@sherwoodtax.com
(503) 925-4558
Kristen, CPA, is passionate about leveraging technology, community, and global resources to bring joy to accounting. With over 20 years of experience serving SMBs and self-employed clients and working with firms of all sizes, she co-founded Breakaway Bookkeeping + Advising before acquiring Sherwood Tax & Accounting.
Paul S. Hamann
RCReports, Inc.
President
phamann@rcreports.com
(720) 833-7399
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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