small business - The S Corporation Association

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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admin2019-02-01T20:12:05+00:00December 6, 2012|

Honey, I Shrunk the Small Business Sector

Earlier this month, the Department of the Treasury released a report to redefine “small business.” As Bloomberg reports:

Using the proposed definition, 20 million small business owners reported $376 billion in net business income for 2007, according to a Treasury analysis of returns that year.

Under a second, narrower definition in which profit or loss from a business represented at least 25 percent of a filer’s income, researchers estimated there were 9.4 million small business owners with $335 billion in reported income for 2007.

The previous methodology counted 34.7 million filers reporting $662 billion in income in 2007. Under the new definitions, …

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admin2019-02-01T20:24:45+00:00August 24, 2011|

Business Community Opposes Tax Hike

Following yesterday’s comments by President Obama, the S Corporation Association joined together with more than 30 other business associations to make the case for action by Congress to avoid the massive tax hike on private enterprise looming next year. As the letter states:

Main Street businesses are America’s job creators. They are responsible for 60 percent of the net new jobs created in the last decade. But uncertainty about the economy and looming tax hikes have kept this sector from hiring new workers, resulting in a weak economic recovery and slow to nonexistent job growth. Until Main Street begins to …

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admin2019-02-04T15:47:04+00:00September 9, 2010|

Congress Returns to Small Business Bill

Congress is back this week, and the pending business before the Senate is the small business tax bill that passed the House last month. Here’s BNA‘s review of the plan:

The Senate is expected to resume consideration July 13 of a small business lending bill with the hope of completing floor debate in only a few days, although a Democratic leadership aide warned that it might depend on Republican cooperation. Currently awaiting consideration is a substitute amendment (S. Amdt. 4402) that carries roughly $12 billion in tax cuts aimed at small businesses, including a highly sought after provision to extend …

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admin2019-02-06T17:20:59+00:00July 13, 2010|

Payroll Tax Update

Congressional taxwriters, especially in the House, continue to express interest in raising payroll taxes on active S corporation shareholders as an offset to the tax extender package under consideration, and the business community has responded.

Nineteen groups penned letters to Chairmen Levin of Ways and Means and Baucus of Senate Finance, highlighting their concerns with the proposal. As BNA reported:

Small business groups urged in an April 28 letter that House Ways and Means Committee Chairman Sander Levin (D-Mich.) …

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admin2019-02-06T17:21:00+00:00May 6, 2010|