The TRN Podcast Video

This episode covers Reasonable Compensation for S-Corp Owners with Insights from the Tax Rep Summit by Eric Green, Founder of Tax Rep Network.
Description: In this episode of Tax Rep Network, we dive deep into the concept of reasonable compensation, a hot topic that emerged during our fourth annual Tax Rep Summit. Join host Eric Green as we unravel the complexities of reasonable compensation, especially in light of the IRS ramping up audits on S-corporations and their owners. For more information on RC Reports visit:
bit.ly/3DClXS5
Key Topics Covered:
What is Reasonable Compensation?: Understanding the criteria for determining reasonable compensation for S-corp, C-corp, and non-profit officers and shareholders.
Debunking Myths: Dispelling common misconceptions about reasonable compensation, such as its relation to profitability and the necessity of annual wage payments.
Practical Examples: Real-life scenarios illustrating how reasonable compensation is calculated and the impact on W-2 wages and distributions.
IRS Audits and Compliance: How to prepare for IRS audits by using tools like RC Reports to substantiate reasonable compensation figures.
Tax Savings Strategies: Exploring the tax benefits of correctly reporting reasonable compensation and strategies to optimize your tax position.
Proactive Planning: The importance of regular reviews and adjustments to ensure compliance and avoid potential penalties.
Special Segment:
Q&A with Eric Green: Eric Green shares insights and answers questions from summit attendees about the nuances of reasonable compensation and best practices for S-corp owners.
Whether you're an accountant, tax professional, or business owner, this episode offers valuable insights into one of the most scrutinized aspects of corporate tax compliance. Tune in to learn how to navigate reasonable compensation rules, optimize your tax strategy, and stay ahead of IRS audits.
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Visit Tax Rep Network: taxrepllc.com/
Visit RC Reports: bit.ly/3DClXS5