Mike’s latest book, Business Valuations and the IRS, Five Books in One (2018) has one of the five books that addresses reasonable compensation.
These two chapters include commentary on how to determine reasonable compensation for federal tax purposes and provides you with the IRS Job Aid on Reasonable Compensation with a critique of the Job Aid by the original issue champion.
In this presentation three Job Aids are introduced. Then highlights of the Job Aid on Reasonable Compensation are provided followed by a critique with valuable insights to help you when developing reasonable compensation.
Items covered include definitions, the market, income and cost approaches, sources of information, five common concerns, and insights on loans and exempt organizations.
In short, this is the most up to date commentary on reasonable compensation and the IRS.
- Be able to define reasonable compensation
- Be able to understand how the IRS approaches the issue
- Know what sources work best for given situations
- Be able to address five common concerns by the IRS