Description

Are you a new advisor handling S Corp clients, or perhaps a seasoned professional facing this common scenario: "My S Corp client didn't take reasonable compensation last year. Now what?" Knowing that reasonable compensation isn't just a tax obligation, but a strategic financial decision, you need to be armed with expert knowledge to help your client navigate this situation. Join us to discuss IRS regulations, understand preventive measures, and address challenges within the year.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Instructor: John Morse, CPA

Target Audience

CPA & EA practitioners who advise S Corps on the issue of Reasonable Compensation who are interested in learning about what to do if a client didn't take reasonable compensation in a previous year.

Course Objectives

After attending this presentation you will be able to...Identify key questions to ask your clients before making an S election to help them stay proactive and make the best entity choiceDetermine proactive measures you can take as an accounting professional to help your clients stay compliant with S Corp regulationsEvaluate scenarios for cash management when reasonable compensation has not been paid, but should have beenRecognize complications and penalties, and leverage early detection to mitigate risks of late payroll tax depositsIllustrate nuances related to health insurance and reasonable compensation, including vision and dental benefits, to optimize tax planning strategies

Subjects

The major topics that will be covered in this course include:Review best practices to help your client evaluate if an S election is an appropriate choiceHow to be proactive and head off common reasonable compensation issues before they happenExplore strategies for cash management if cash isn't available at year endExplore what’s at stake when reasonable compensation isn’t paid timely