Tag Archives: reasonable compensation

Business Taxes under PL 115-97 (part 1)

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We’ve discussed the personal tax (Part 1and Part 2) provisions of the newly enacted tax law.  Over the next three days, we’ll discuss the business provisions of the law.

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Are you reasonable?

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As long as you do not operate as a  partnership (partners only get a draw, fully subject to all taxes, including payroll taxes), the owners of an enterprise are expected to be paid a salary.  That’s the IRS position- the one that counts.

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Goldilocks makes decisions for the IRS now?

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As I have recently written, the SEC (US Securities and Exchange Commission) is not currently enforcing the rules about executive pay reporting.  This, despite the fact that most public companies pay excessive salaries to their executives. And, the IRS rarely challenges the pay that these public companies afford their bloated executive ranks.

Continue reading Goldilocks makes decisions for the IRS now?

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