Christine Walizer, Author at The S Corporation Association

Letter Leaves Pass Through Employers Behind

For seven years, your S-Corp team has repeated the same mantra for tax reform – tax all income once, tax it at similar reasonable rates, and then leave it alone. If Congress wants to make the tax code simpler and encourage more job creation, this is the place to start.

A competing view is one where the largest corporations pay very low rates while everybody else – individuals and pass through businesses alike – pay rates significantly higher. Recall that pass through businesses are taxed via the individual tax rates of their owners. The idea is that while US corporations can …

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admin2019-01-31T22:48:48+00:00August 1, 2017|

Tax Reform Statement & Pass Through Taxes

Just in time for the August recess, the House, Senate and the White House released a joint statement yesterday on the status of their tax reform talks and their plans moving forward. You can read the statement here. From our perspective, here are the key points:

“While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it and have decided to set this policy aside in order to advance tax reform.”

A primary purpose of the statement was to pivot the tax conversation away from the House Blueprint and the …

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admin2021-08-16T14:02:33+00:00August 1, 2017|

S-Corp Submits Comments

The S Corporation Association submitted the following comments to the Senate Finance Committee today as part of the Committee’s request for input:

The United States is unique among developed countries in the emphasis it places on pass-through business structures – S corporations, partnerships (including limited liability companies), and sole proprietorships. Pass-through businesses make up 95 percent of all U.S. businesses, they employ the majority of private sector workers, and they contribute the majority of business income to our GDP.

This reliance on pass-through businesses is not an accident or a byproduct of other priorities. Rather, it was done purposefully by successive Congresses …

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admin2019-01-31T22:48:48+00:00July 17, 2017|

Business Community Rallies Behind 3.8% NIIT Repeal

The Business Committee came out in force today in opposition to the Obamacare 3.8 percent Net Investment Income Tax (NIIT) and, more to the point, in support of repealing this harmful tax as part of the on-going health care reform effort.

More than forty national trade groups joined the S Corporation Association in writing to Senate Majority Leader McConnell supporting NIIT repeal as a priority in health care reform. Since the beginning of the year, repeal of this tax had been a core part of Republican efforts to roll back the Affordable Care Act (ACA). But in recent weeks a …

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admin2019-01-31T22:48:48+00:00July 11, 2017|

S-Corp Testifies

S-Corp President Brian Reardon testified yesterday before the Senate Small Business Committee in a hearing entitled “Tax Reform: Removing Barriers to Small Business Growth.” As Inside Sources reported:

The hearing primarily focused on ensuring small businesses are considered in the current push to lower corporate tax rates. The Small Business Administration found that small businesses make up a sizable portion of the national economy at 49.2 percent of private-sector employment.

“As we all know, our tax code is in need of reform,” New Hampshire Democratic Sen. Jeanne Shaheen, the ranking member of the committee, said at the start of the …

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admin2019-01-31T22:48:48+00:00June 15, 2017|