Webinar: Reasonable Compensation Horror Stories by ALFi

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Presenters

Paul S. Hamann

President

Paul’s background in executive search brought many requests for him to create reasonable compensation analysis for business owners. After painfully completing many of these analyses that often took 2-3 full days to put together, he thought there had to be a way to automate the process. So, he gathered a group of experts in their fields – a CPA, a data scientist, a developer, and more – and set out to create what would become RCReports.

Along the way, Paul became an expert in determining Reasonable Compensation for closely-held business owners. He’s educated more than 100,000 accounting professionals and business valuators on the topic of Reasonable Compensation and has been published in numerous national and state journals. He has been awarded twice for Presenter of the Year by CPAacademy. In addition, Paul has helped many RCReports customers through IRS examinations, litigation, and tough Reasonable Compensation situations.

Dawn Brolin

CEO of Powerful Accounting, Inc.

Dawn is The Designated Motivator for Accounting Professionals and the CEO of Powerful Accounting, Inc. For more than two decades, Dawn has been a well-known and respected educator and motivator for her clients, other accounting professionals and technology solution providers. She is known for innovative collaborations within the accounting profession including with her technology ecosystem partners which are included in her Team Brolin Starting Lineup.

Eric Green

Founder, Tax Rep Network · Partner, Green & Sklarz LLC · JD, LL.M.

Eric is a partner in Green & Sklarz LLC, a boutique tax firm with Connecticut and New York offices. The focus of Attorney Eric L. Green's practice is civil and criminal taxpayer representation before the Department of Justice Tax Division, Internal Revenue Service, and state Departments of Revenue Services. His practice also handles probate matters and estate planning for individuals and business owners, and tax planning for closely-held businesses. He is a frequent lecturer on tax topics for CCH, the NAEA, the NATP, the ABA Tax Section, and the Connecticut Society of CPAs. Attorney Green has served as adjunct faculty at the University of Connecticut School of Law.

Thomas A. Gorczynski

EA, USTCP

Thomas A. Gorczynski, EA, USTCP is a Phoenix-based tax professional whose practice specializes in tax preparation, planning, and representation. He earned an MS in Taxation from Golden Gate University and a certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. He serves on the NTPI Planning and Government Relations Committees. Mr. Gorczynski is a nationally-known speaker in the tax field and co-owner of Compass Tax Educators.

Justin Elanjian

Tax Managing Director

Justin Elanjian is a highly accomplished Managing Director at Frost Law. With over 15 years of experience as a consultant and accountant, Justin brings a wealth of knowledge and expertise to the firm.

Justin specializes in working with businesses of all types and sizes on government program-related economic assistance, including the CARES Act and other pandemic-related relief including, but not limited to, the Employee Retention Credit (ERC) and the Paycheck Protection Program (PPP). Specifically, he works with businesses to obtain and retain COVID relief funds they’re entitled to.

About

Program Field of Study: Taxes
Program Level: Basic
Who Should Attend: CPA & EA practitioners who advise S Corps on the issue of Reasonable Compensation who are interested in learning about current IRS guidelines, and solutions for advising their clients on the issue of Reasonable Compensation.
Credits: 1 CPE | 1 CE
Advanced Preparation: None
Prerequisite: None
IRS Program Number: JWRXB-T-00041-26-O

Reasonable compensation is one of the most misunderstood topics in the tax realm, but it can have very real, very large implications on your clients and your firm. If you work with S Corps, you have a duty of care to ensure your clients are taking appropriate reasonable compensation and have this figure documented using unbiased data every year. Failing to do so can result in back taxes, penalties, and interest for your clients, and preparer penalties for you. In this fast-paced session, we'll also dive into the details of recent reasonable compensation audits, showing you the critical role documentation plays and how real practitioners have faced these challenges. Learn from the mistakes of those who’ve gone before you and avoid the horror that occurs when you butcher reasonable comp.

Agenda

Define what reasonable compensation is (and what it is not)
Recognize how documentation from a reliable, unbiased source is essential in defending against recent reasonable compensation audit challenges
Discuss with your clients the rules surrounding reasonable compensation and the risks with skirting those rules
Demonstrate the social security and disability implications of setting reasonable compensation too low
Identify steps to ensure both you and your clients are covered when it comes to reasonable compensation