Home/Tag: AMT

S Corp Meets with House Leadership

S Corporation Association Board Member Dan McGregor participated in a small business roundtable with House Republican leadership yesterday as part of our ongoing effort to educate policymakers on the important role pass-through businesses, and particularly S corporations, play in job creation and investment.

Dan is Chairman of McGregor Metal Working, a group of metal-stamping companies located in the Springfield, Ohio area. It’s been a family-owned business since 1965 and began as an eight-person tool and die shop. Today, they employ 365 workers and have clients in the auto, agriculture, and

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2019-02-01T20:12:05+00:00December 6, 2012|

Fiscal (Slope) Cliff Forecast

While everyone in Washington waits for Tuesday’s election results, this story in The Hill caught our eye: “Fiscal cliff already weighing on economy.” According to the story:

While the expiring tax cuts and automatic spending cuts that make up the cliff do not take effect until the beginning of 2013, Pawlenty said he is hearing from financial firms that businesses are already halting business activity because they are not sure what will happen.

For example, 61 percent of JPMorgan’s U.S. clients are altering their hiring plans because of the cliff, and 42 percent of fund managers for Bank of America identify

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2019-02-01T20:12:33+00:00November 5, 2012|

Rate Debate Update

The rate debate continues. Last week, the Senate failed to extend all the current tax rates and policies by a vote of 45-54. Two Republicans voted against the measure because of a refundable credit issue and one Republican missed the vote due to illness, but even if you adjust for those votes, the Senate still came up short of a majority for not raising taxes on employers during a period of severely high unemployment.

Very disappointing and something pass-through businesses and the markets should pay sharp attention to.

We expect better results today and tomorrow when the House votes on two related

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2019-02-01T20:12:58+00:00August 1, 2012|

The Ryan Budget & Taxes

The budget introduced in the House today calls for a couple broad items on the tax front. First, it calls for extending all the tax provisions set to expire January 1st. That’s the rate cliff we’ve been warning S corporations about for the past couple months. Marty Feldstein made the case clearly this week in the Financial Times as to why Congress needs to act:

But the most important cloud on the horizon is the large tax increase that will occur next year unless legislation is passed to block it. The Congressional Budget Office predicts that, under current law, the

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2019-02-01T20:21:28+00:00March 21, 2012|

What’s Next?

The Super Committee announced today that it will not produce any recommendations for Congress to act on next month. The markets are reacting badly, which surprises us. They should have seen this coming. Maybe they were hoping for some sort of signal that Congress can function and is prepared to deal with our ongoing fiscal crisis, but every signal we received for the past two months suggested the Committee was going to fall short.

Now that they have missed the mark, the question becomes, “What’s next?”

For the remainder of 2011, Congress needs to act on the tax provisions set to expire

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2019-02-01T20:24:44+00:00November 21, 2011|