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SALT Parity Update

Lots of progress on the SALT Parity front to report! As readers know, S-Corp and the Parity for Main Street Employers coalition has advocated for the restoration of the federal SALT deduction to businesses organized as S corporations, partnerships, and LLCs. In Minnesota, the House Tax Committee yesterday considered HF871, legislation introduced by Representative Greg Davids to enact our SALT Parity approach. The hearing featured supportive testimony from Beth Kadoun from the Minnesota Chamber of Commerce, Mike Hickey from the National Federation of Independent Business, and John Kammerer from Redpath and Company and the S Corporation Association. A companion bill ...

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SALT Parity Update2020-03-06T19:33:31+00:00

Talking Taxes In a Truck Episode 2 – SALT Parity Update

Got some time waiting for that new Hillary Clinton podcast?  We've got you covered.  S-Corp President Brian Reardon talks pass-through SALT parity and the recent “Steiner” Utah Supreme Court decision with Bruce Ely, Partner and S corporation expert at the Bradley law firm in Birmingham Alabama.  Recorded on February 25, 2020 -- 19 minutes. You can access the podcast on Libsyn by clicking here.      

Talking Taxes In a Truck Episode 2 – SALT Parity Update2020-02-28T21:12:28+00:00

Brookings and Progressivity

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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Brookings and Progressivity2020-02-05T20:49:22+00:00

Our Chairman’s Annual Letter

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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Our Chairman’s Annual Letter2020-01-22T16:45:45+00:00

Video on Main Street Employers’ Briefing

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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Video on Main Street Employers’ Briefing2020-01-07T23:27:21+00:00