After being introduced to RCReports by a colleague, Matt started using it as a beta tester. He quickly realized RCReports was the solution he had been looking for. Finally, Matt had the resource he needed to offer his clients an objective, defensible and accurate calculation of reasonable compensation quickly and easily.
Before RCReports, compiling a Reasonable Compensation report took hours or even days. Matt and his team would have to pour over wage data, comparing geographic regions all for various roles, which was time consuming and inefficient. Now RCReports does the work for them and generates a report that can be used as is.
How RCReports works
RCReports ensures that when determining a business owner’s reasonable compensation, you can easily break down their roles by title and percentage of time and calculate accurate wage data that is supported by an independent, third-party source.
Matt likes that RCReports even makes the process of determining owner roles easy by sending out an electronic survey that allows his clients to input their various roles and percentage of time spent in each role. Once this has been completed, RC Reports automatically generates the Reasonable Compensation analysis and estimate.
Reasonable Compensation Challenges
RCReports provides robust, readable, simple, and extremely easy to understand reports. Footnotes and references show all the data sources to ensure credibility. Reports can be used as is or customized This means valuation and tax professional can add their professional assumptions, perspectives, and opinions to the report. For example, in cases where adjustments need to be made to align pay with work hours, customization is crucial.
Matt can now rest assured that in the event of an IRS or other challenge to a Reasonable Compensation estimate, he can quickly validate and defend his analysis.
- Easy to use
- Quickly generates a detailed reasonable compensation report using data from an independent third-party source
- Reporting is robust yet simple and easy to understand
- Involves client in the process
- Appropriate for litigation, stands up in court
- Includes the cost approach
- Generated reports can be included directly in valuation / tax reports
RCReports features an exclusive wage database with more than 12.9 million data points and a simple system to generate lightning fast Reasonable Compensation reports that are objective, accurate and backed by proprietary methodology combining IRS criteria, court rulings and geographic data.
About Matthew J.Pontiff
Matthew J. Pontiff. Certified Public Accountant; Accredited in Business Valuation; Certified in Financial Forensics; Certified Valuation Analyst
Since 1987, Matt’s practice Pontiff + Associates, P.C. has been a multidisciplinary accounting and consulting firm primarily focusing on tax preparation and planning, business valuation, small business consulting and litigation support Matt Pontiff practices primarily in the areas of business valuation, litigation support, tax planning, and business consulting.
His expertise in valuing closely held businesses, calculating economic damages, forensic accounting, and divorce tax planning issues, which has made him a sought-after expert witness in many civil cases.