WageProof
“Generate defensible reasonable compensation reports for S-Corp clients using the approaches described in the IRS Job Aid: cost and market, priced with BLS wage data, and income.”
“Defensible reasonable compensation reports for S-Corp owners and their tax professionals, using the cost and market approaches from the IRS Job Aid with Bureau of Labor Statistics wage data, plus the income approach for tax professionals.”
“Generate defensible reasonable compensation reports for S-Corp clients using the approaches described in the IRS Job Aid: cost and market, priced with BLS wage data, and income.”
“The three calculation approaches are the ones described in the Reasonable Compensation Job Aid for IRS Valuation Professionals, a 2014 reference guide written by IRS valuation professionals (it says it is not an official IRS position). The wage data comes from the Bureau of Labor Statistics.”
“Yes. There’s a full sample report on the site, no email required. Cost and Market reports of your own have the same format, data sources and methodology documentation.”
“It’s the salary an S-corp must pay its owner-employees for the work they perform. The IRS requires it to be comparable to what someone in a similar role would earn in the open market. Getting it wrong can trigger penalties, back taxes, and interest.”
“A single report is $199. Tax professionals can also choose an annual plan: Starter $499/year for 10 reports, Professional $999/year for 30, or Firm $1,499/year for 60 ($24.98/report on the Firm plan at 60 reports).”
“Yes. Annual plans renew automatically for another one-year term at the then-current price, charged to the card on file on the renewal date, unless you cancel first.”
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