S-Corp is starting a new podcast. In episode 1, Cornerstone Macro Partner Andy Laperriere talks elections, the State of the Union, the future of tax policy, and UFOs with S Corporation Association President Brian Reardon. The podcast was recorded on February 5th and runs 21 minutes long. You can access the podcast on Libsyn by clicking here or on the play button below.
We interrupted our impeachment viewing last week for a Brookings Institute briefing exploring various ways the Congress could raise taxes. A book of revenue raising recommendations accompanying the briefing weighed in at a hefty 368 pages. According to the book’s editors, “This book is about taxes. It poses a simple question: Given that the United States needs more revenue, how should we raise it?” It’s too early for us to digest all 368 pages, but the book raises one issue that’s worth exploring from the onset – the progressivity of the U.S. Tax Code and which direction we’re headed. In ...
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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 wealth tax as proposed by Senators Warren and Sanders. How to explain the disconnect? How can voters support reasonable tax rates on one hand and ...
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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 Employers). It also featured new work from EY and the Winston Group focused on the challenges individually and family-owned businesses face in the post-tax reform ...
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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 national income. They also pay the majority of business taxes. A recent study by EY found that pass-through businesses pay 51 percent of all business ...
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