Tax Policy - The S Corporation Association

You Can’t Fix Stupid

When Norway recently enacted a new wealth tax, it was billed as an easy way to make the rich “pay their fair share.” They packed their bags instead.

Within a year, hundreds of high-net-worth Norwegians fled the country, taking with them billions in capital, thousands of jobs, and a massive portion of the tax base. The exodus has been so severe that government revenue declined, serving as a case study in the inevitable response to bad tax policy.

Learning nothing, California is flirting with the same economic poison. A proposed “billionaire …

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admin2026-01-09T17:42:51+00:00January 9, 2026|

Wealth Tax Mania Spreads East

With California’s wealth-tax debate heating up, it appears Congress does not want to be outdone. New York Democratic Representative Dan Goldman has introduced a new tax aimed at appreciated property held by high-net-worth individuals. The legislation offers yet another chance to highlight why tax proposals targeting capital all suffer from the same fatal flaws.

Goldman’s Redistribution of Billions by Instituting New High-Income Obligations on Overlooked Debt (ROBINHOOD) Act would impose a 20-percent excise tax on loans secured by appreciated assets. When a taxpayer borrows against the value of stock, real estate, or a business interest that has risen in value, …

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admin2025-12-23T15:40:17+00:00December 23, 2025|

Talking Taxes in a Truck Episode 46: Tom Nichols on the Backdoor Tax Hike That Needs to be Repealed

Our guest is Tom Nichols, partner at the Milwaukee-based Meissner Tierney Fisher & Nichols, longtime advisor to S-Corp, and author of an excellent new piece exposing the Section 461(l) Excess Business Loss limitation for the money-grabbing fraud it is. Tom walks through the provision’s origins, the harm it does to affected businesses, and how flawed revenue estimates drove the policy. We also get into our SALT Parity efforts and how the state laws and legal analysis he drafted helped pave the way for $20 billion in annual tax savings for Main Street businesses.

This episode of the Talking Taxes in …

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admin2025-12-19T16:35:04+00:00December 19, 2025|

SALT Parity Certainty

It’s been seven years since the first state enacted our SALT Parity legislation restoring the SALT deduction for pass-through businesses.

Since that time, thirty-five other states have followed suit, the IRS issued Notice 2020-75 in support of the state laws, and Congress considered but rejected several efforts to repeal or otherwise limit the deduction for pass-throughs. (As always, C corporations continue to deduct their SALT without limitation or debate.)

After all that, you’d think the tax community would accept that our SALT Parity laws are in good standing. You’d be wrong.

The latest example of hand-wringing comes from a recent …

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admin2025-12-05T19:34:29+00:00December 5, 2025|

The Reasonable American

The progressive Economic Policy Institute is out with a menu of tax hike options it hopes policymakers will consider. The paper and the related Politico interview are worthy of a response.

“A lot of people assume the public is anti-tax. But they might just be very annoyed because they think the wealthy are avoiding their obligations,” said Josh Bivens of EPI, the author of the report…

“Might” taxpayers be “annoyed” because they “think” the wealthy are avoiding their obligations? A lot of fudge factors in that sentence. Certainly the latter point rings true — polling consistently shows that Americans believe …

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admin2025-11-25T15:20:19+00:00November 25, 2025|