RCReports

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RCReports is packed with the tools and resources you need to successfully incorporate reasonable compensation into your practice. Reports in Minutes: Generate a full reasonable compensation report in minutes using our proprietary tool that includes step-by-step guidance to calculate an accurate and defensible figure. Custom Branding: Add your firm logo and color scheme for a fully branded report for your clients. Delivery Suppression: You have the option to send reports directly to your client or suppress delivery until they have been reviewed. Reports are editable for up to 30 days so you can adjust as needed. Methodology Approaches: • Cost Approach - Also known as the Many Hats Approach, the Cost Approach breaks down the time spent by the business owner into various duties performed and quantifies the amount of time devoted to the different duties. The Cost Approach generally works best for small businesses where the business owner provides multiple services for the business. • Market Approach - Also known as the Industry Comparison Approach, the Market Approach compares the business owner’s compensation to compensation with businesses of the same size and industry. The Market Approach generally works best for medium and large businesses where the business owner provides only one duty: management of the business. • Income Approach - Also known as the Independent Investors Test, the Income Approach seeks to determine whether a hypothetical investor would be satisfied with their return on investment when looking at the financial performance of the business in conjunction with the compensation level of the owner. Generally used in litigation to support or discredit a primary approach such as the Cost or Market. Professional Tools: • Entity Selection Planner - Quickly determine what business entity is most beneficial to your client and generate a report that details savings over a ten year period. • Warp Speed Wages - Look up any wage data point in our database in seconds. • Pro Advisor Worksheet - Detail your notes regarding a client’s reasonable compensation figure along with any adjustments needed and append this worksheet to the official report. Professional Resources: • Resource Library - Access court cases, IRS job aids, whitepapers, eBooks, articles and more on the topic of reasonable compensation. • Advisor Network - Market your firm as a reasonable compensation expert in our advisor network used by SMBs to find their next accounting partner. • Audit & Litigation Support - Tap into the knowledge of our team of experts when undergoing audit or litigation where an RCReports report is key evidence.