Christine Walizer, Author at The S Corporation Association

S Corporation Association Member Survey

2018 will be a pivotal year for Main Street businesses and the trade groups that represent them. The 20-percent pass-through deduction is helpful to those businesses that qualify, but it’s availability is limited by income, industry, location, and other “guardrails” so complicated even tax experts are scratching their heads.

Meanwhile, the new federal law precludes most pass-through businesses from deducting their state and local income taxes. And finally, the 20-percent deduction is scheduled to sunset in a few years, threatening many pass-through businesses with a tax hike in future years.

To help provide policymakers with a better sense of how the Main …

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admin2019-02-06T18:49:36+00:00February 27, 2018|

S-Corp at Brookings—Making the Case for Tax Parity

On Tuesday the Urban-Brookings Tax Policy Center held a forum on the new tax bill entitled “The Tax Cuts and Jobs Act: The new business tax landscape.” The forum focused on two of the more confusing aspects of the new law – the treatment of pass-through businesses and the treatment of international income.

S-Corp was represented on a panel discussion devoted to the pass-through issues, with S-Corp President Brian Reardon joining Lilian Faulhaber of Georgetown Law and Joseph Rosenberg of the Tax Policy Center. Reardon made a strong case for the pass-through structure as a preferred mode of business taxation, and …

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admin2019-02-06T18:49:36+00:00February 14, 2018|

Tax Reform Overview

From the corporate perspective, the early returns on the new tax bill are promising. The markets certainly like the lower corporate tax rate and dozens of public companies have announced tax-cut related investments, wage hikes, and bonuses. For the corporate world, the new law appears to be doing exactly what its authors hoped for.

But what about Main Street businesses? Will they benefit from the new law? There, the outlook is much more complicated. C corporations got a rate cut. Pass-through businesses got a 20-percent deduction. The deduction is helpful, but it is smaller than the rate cut and it raises …

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admin2021-08-16T14:02:07+00:00February 7, 2018|

Our Chairman’s 2018 New Year Message

Dear S-CORP Member:

Well that was a roller coaster ride. In just ten weeks, Congress went from being nowhere on tax reform to seeing a massive rewrite of the Tax Code enacted into law. It was a remarkable accomplishment whose benefits are already being felt in the job and equity markets. The stock markets like the new tax bill.

But does the new tax bill like Main Street? That’s a little more complicated.

Thanks to the efforts of your S-Corp team and allies, the final version of the bill is a dramatic improvement over earlier drafts – the new pass-through deduction is larger, …

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admin2019-02-06T18:49:36+00:00January 12, 2018|

S-Corp Thanks its Champions

With tax reform passing the Congress in the next few hours, S-Corp sent a note of thanks to those members of the Senate – Johnson, Daines and Inhofe – who stood up for Main Street businesses at a most critical time. As the letter states:

Thank you for your outstanding leadership to promote tax fairness for thousands of American Main Street and family businesses throughout consideration of H.R. 1, the Tax Cuts and Jobs Act.

Because of your efforts, the final conference agreement included a number of improvements, including provisions directly aimed at addressing …

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admin2019-02-06T18:49:36+00:00December 20, 2017|