Christine Walizer, Author at The S Corporation Association

Main Street Tax Relief Still Popular

Punchbowl News is out with a story on how the reconciliation bill before the Senate polls poorly. The DC media loves to throw shade at the BBB. Something that definitely polls well is extending the TCJA’s policies benefiting Main Street businesses.

As last month’s Winston Group poll found:

From the electorate’s perspective, government spending is by far the bigger problem than not enough revenue coming from taxes (70-21). Independent voters also see spending as the larger problem at 68-20. Inflation is still a major concern, with almost half the electorate (49%) believing that inflation is getting worse, rather than better …

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admin2025-06-20T15:06:16+00:00June 20, 2025|

Avoiding Tax Hikes in the Big Beautiful Bill

The Main Street community needs the Big Beautiful Bill to succeed. Absent congressional action, taxes on pass-through businesses of all sizes will go up sharply. The same applies to most families. So the Main Street Employers Coalition supports efforts in both the House and the Senate to extend the sunsetting provisions from the Tax Cuts and Jobs Act.

Comparing the two approaches, the House bill is more friendly to small- and family-owned businesses. It increases the Section 199A pass-through deduction to 23 percent and its disallowance of Pass-Through Entity Taxes (PTETs) is limited to Specified Service Trades or Businesses (SSTB) …

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admin2025-06-18T21:40:52+00:00June 18, 2025|

Tax Notes Highlights House SALT Limitation

As we wrote recently, there’s lots to like about the House reconciliation package, but a dramatic expansion of B-SALT continues to give Main Street heartburn.

A new piece in Tax Notes lays out just how much pain the new regime would cause. Appropriately titled, “More SALTy Than Sweet?” the article beings:

Perhaps most importantly, the new SALT regime would allow for the continued viability of PTET regimes only in certain circumstances. However, PTET regimes would no longer be available in a variety of circumstances, and those circumstances are broader than an initial read might suggest.

Translation? Under the House bill, hundreds …

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admin2025-06-12T19:40:09+00:00June 12, 2025|

Oppose the Nancy Pelosi Tax Hike

There are a number of mysteries embedded in the House reconciliation bill, but number one among those is why the House is taking tax advice from former Speaker Nancy Pelosi.

Buried in the House bill is a provision championed by the former Speaker to treat the active losses of a pass-through worse than any other type of loss. The provision targets family businesses and would effectively preclude many of them from ever realizing these losses. Here’s why the Senate should reject this ill-advised provision.

Background: Prior to the Tax Cuts and Jobs Act (TCJA), taxpayers with active business losses could use …

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admin2025-06-03T18:32:57+00:00June 3, 2025|

In Defense of SALT Parity

House passage of the big reconciliation bill is a welcome development for the millions of Main Street job creators otherwise facing a massive tax hike next year. S-Corp enthusiastically supports the measure, but one question remains — why does a bill designed to prevent tax hikes on small and family-owned businesses raise taxes on many of those businesses instead?

To recap – the House-passed bill would limit SALT deductions for millions of pass-through business owners of so-called Specified Service Trade or Businesses (SSTBs), imposing an $80 billion tax hike on these businesses even as the C corporation down the street …

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admin2025-05-29T09:49:23+00:00May 29, 2025|