effective rates - The S Corporation Association

S-CORP’s Comments to the Senate Finance Committee

Today is the deadline for the so-called “clean slate” process in the Senate, and while S corporations and other pass-through business entities are (properly so) not tax expenditures, we thought it was important that the priorities of this community be made clear to tax writers as they begin drafting their reform plans over August.

With that in mind, today more than 70 (!) national business trade associations, including the American Farm Bureau, the National Federation of Independent Business, the National Restaurant Association, and the S Corporation Association, signed a letter reiterating the three tax reform priorities of the pass-through community:

First, …

(Read More)

S Corporations and Payroll Taxes, Again

The release of Newt Gingrich’s tax return has returned the issue of payroll taxes and S corporations to the public’s attention. This issue first came to prominence during the 2004 election cycle, when Vice Presidential nominee John Edwards was accused of using an S corporation to avoid paying Medicare taxes on some of his income as a lawyer.

Now it appears Newt Gingrich may be using a similar structure. USA Today has an excellent report on the issue. Here are a couple excerpts:

Gingrich’s tax return shows his S Corporation, Gingrich Holdings, accounted for the bulk of his $3,142,066 adjusted gross …

(Read More)

S-CORP’s Comments to the Senate Finance Committee

S Corporations and Payroll Taxes, Again

S-CORP’s Comments to the Senate Finance Committee