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Washington Wire

Our Chairman’s Annual Letter

January 22nd, 2020|

Dear S-CORP Member: The S Corporation Association recently surveyed voters and asked them how much private companies and other taxpayers should pay in taxes every year? Almost without exception, the responses were consistent, reasonable and completely out of step with today’s rhetoric.  Voters believed family businesses should pay no more than twenty cents for every dollar of income, or about half what most actually pay and less than one-third what they would pay under a ...

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Video on Main Street Employers’ Briefing

January 7th, 2020|

Video on Main Street Employers’ Briefing   In case you missed it, S-Corp has posted video of its October briefing on Main Street tax issues on its website. The briefing, which took place in the historic Senate Russell Caucus Room and was hosted by the Parity for Main Street Employers coalition, featured Senator Steve Daines (R-MT), Martin Sullivan (Tax Analysts), Bob Carroll (EY), David Winston (The Winston Group) and Chris Smith Parity for Main Street ...

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Main Street Responds to House SALT Bill

December 11th, 2019|

Yesterday, the Main Street Employers coalition sent a letter to House tax writers raising concerns with their plan to provide temporary relief from the SALT deduction cap by raising the top tax rate applied to pass-through business income. As the letter states: Individually and family owned businesses organized as S corporations, partnerships and sole proprietorships are the heart of the American economy. They employ the majority of workers, and they contribute the most to our ...

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Long-Term Tax Policy Outlook

November 22nd, 2019|

Whoever claimed there’s not a “dime’s worth of difference” between the political parties clearly was not referring to American politics in 2020. For tax policy alone, the difference is in the trillions. On one hand, a Trump victory would likely mean continued divided government, possible consideration (although not adoption) of a middle-class tax cut, and a resumption of the status quo. If Trump has a fifty percent chance of winning next fall, then there’s a ...

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S Corps and Income Inequality

October 31st, 2019|

Much of today’s tax policy debate is premised on the notion that income inequality is bad and getting worse. Economists Piketty and Saez have published numerous papers making this case (here, and here), and Saez recently wrote a book arguing for a wealth tax to address this inequality. But what if their premise is simply wrong? What if the whole income inequality narrative itself is built on a faulty foundation? It’s been known for a ...

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