Not tax advice
Nothing on traceprep.com, and nothing produced by the TracePrep application, is tax, legal, accounting, or investment advice. It is not an opinion on any position, and it is not a substitute for the judgment of a qualified professional who knows the facts of a specific engagement.
Reading this site does not create a professional relationship of any kind between you and TracePrep Inc., a Texas corporation.
The Reviewer is the Firm's own professional
TracePrep is software used by accounting firms. In every Study, the Reviewer is the Firm's own qualified professional, working inside the Firm's own engagement with its own client, under the Firm's own standards and its own professional liability.
The Reviewer reaches the conclusion. TracePrep supports that work with structured intake, versioned evidence, a reproducible calculation, and a record of who did what. It does not make the determination, and it does not replace the review the Firm performs.
TracePrep Inc. is a software company. It is not a CPA firm, does not perform accounting or tax services, and does not review any Firm's work.
What a Study is and is not
A Study gives a Firm traceable evidence to support the Firm's own reasonable-compensation conclusion for an S-corporation shareholder-employee.
A Study does not:
- guarantee, predict, or promise how the IRS or any state tax authority will treat a position;
- constitute approval, endorsement, or acceptance by any tax authority;
- eliminate the possibility of an examination, an adjustment, or a penalty;
- replace the Firm's own review, documentation standards, or engagement letter with its client.
Reasonable compensation is a facts-and-circumstances determination. Two firms looking at the same evidence can reasonably reach different conclusions, and the conclusion belongs to the Firm that signs it.
Wage data and sources
Wage evidence in a Study comes from public sources, captured with a version, a period, and a transformation record so any figure can be traced back. Public data is published on its own schedule and can be revised or withdrawn by its publisher. TracePrep records what a source said as of the date it was captured. It does not warrant that a source is current, complete, or appropriate for a given engagement. Choosing whether a source fits the facts is the Firm's call.
Site content
Articles, guides, calculators, and examples on this site are general information written for accounting professionals. They may become out of date as law, guidance, or published data changes, and they are not written for any specific taxpayer's facts. Do not act on them without applying professional judgment to the actual engagement.
Third-party references
Where this site names a third party, links to a public source, or compares a publicly documented fact, that reference reflects the cited public source as of the date shown on the page. It is not an endorsement and it is not a statement about a third party beyond what the cited source supports. If you believe a cited fact is wrong, tell us through the Contact page and we will re-check it against the source. We acknowledge a correction request within 5 business days, and a fact that no longer follows from its source is corrected or removed within 10 business days after that.
Limits
This page summarizes a position that is stated in operative form in the Terms of Use and, once the product application is released, the Product Application Terms. Where the wording differs, those documents control.
Questions
Reach us through the Contact page.