In late December of 2017, the most significant piece of tax legislation since the Tax Reform Act of 1986 was signed into law. Dubbed the Tax Cuts And Jobs Act(TCJA) of 2017, the legislation not only made minor reductions to most individual tax brackets and Major reductions for corporate tax brackets, but it also complicated much of the existing laws, particularly around closely held corporations or S Corps(IRS 2018b). One element which was modified for S Corps, in particular was the impact of reasonable compensation on the S Corps owner’s personal tax return. This White Paper examines why the IRS is now focusing on an accurate reasonable compensation figure, and how reasonable compensation can be derived properly.
You are invited to attend a complimentary webinar on Reasonable Compensation and receive CPE credits. Leading expert on S Corps and Reasonable Compensation will share with you how to get this done accurately and easily and ensure you protect your clients on audit of their compensation.