SCOTTSDALE, Ariz. - Sept. 15, 2015 - PRLog -- Based on recent public scrutiny of the issue by the IRS, the question of “reasonable compensation” has now been pushed to the forefront of any conversation on taxes and taxation planning for all S-Corp owners. Indeed, according to many tax pundits, LLC owners would also be wise to take heed as well. Fortunately, local Scottsdale accountant G. Preston Parker is now offering competitively priced opinions for such owners on this important question. What is “reasonable compensation” to report? Parker says many of his clients instinctively gravitate to the idea of recording no compensation whatsoever, or very little. With new skepticism from the IRS, this may be problematic, resulting in other penalties or ancillary tax levies to other aspects of the corporate return.
“I don’t usually give testimonials for accountants, but the fact is, Parker saved me thousands in my tax bill, and allowed my audit to go smoothly,” said a prominent local entrepreneur and community philanthropist. “This ‘reasonable compensation’ stuff is awfully complicated, and he was able to synergize the facts into a straightforward, coherent explanation. I would never dare take my business anywhere else.”
In addition to this new service Parker also can prepare all legal documents for his clients, as he holds a license in legal document preparation. This translates into convenient, “one stop shopping” for more than just tax preparation, namely, help with: incorporations, amendments, dissolutions, revocable living trusts, trademarks and any agreements that don’t involve legal advice.
With more than 20 years of experience in the accounting industry and many years working as a local resident, Parker has positioned himself as an essential teammate for the administration of many local businesspeople and independent companies. The introduction of these new consultations on “reasonable compensation,” has enabled Parker to demonstrate his responsiveness to the changing needs of his savvy, influential clients. As his schedule quickly fills up, Parker recommends interested corporation owners contact him soon to ensure they can meet with him well before relevant deadlines approach.
George Parker is a graduate of the University of Utah. He was associated with the Los Angeles office of Price Waterhouse & Co., one of the largest, international accounting firms. He worked on audit teams with a number of publicly traded companies in manufacturing, importing, warehousing, and the motion picture industries. George is a long-standing resident of Scottsdale, Arizona, and has is the author of a forthcoming book regarding income tax and small business.
G. Preston Parker CPA
preston@azsdcpa.com
480 499-5427
866 459-5242
Photos: (Click photo to enlarge)
Read Full Story - Consultations on “Reasonable Compensation” for S Corp Owners Now Offered by Local CPA | More news from this source
Press release distribution by PRLog
