Christine Walizer, Author at The S Corporation Association

A Tale of Two Speeches

The president gave his State of the Union speech last Tuesday, while his Secretary of Treasury spoke to the Brookings Institution the following morning. The president didn’t mention tax reform, whereas Lew devoted nearly his entire speech to building the case for action this year. It was a head-scratching juxtaposition that still has us wondering if Treasury and the White House are on speaking terms these days.

You can read the president’s speech here
You can watch the Lew speech here

Lew’s speech in particular is worth watching. His focus was on the tax reform “framework” Treasury put forward three …

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admin2019-02-01T20:00:11+00:00January 26, 2015|

Tax Foundation on Pass-Through Businesses

The Tax Foundation today released a great paper outlining the state of American pass-through businesses – S corps, partnerships, and sole props – and how the tax code currently treats those companies. According to the Foundation, those businesses account for more jobs and more business income than traditional C corps, making them the major player in the American economy. As the paper concludes:

One of the main goals of fundamental tax reform is to make U.S. businesses more competitive and to increase economic growth. This requires a reduction in taxes on businesses and investment. Most attention is given to traditional …

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admin2019-02-01T20:00:11+00:00January 21, 2015|

Ryan Rolls Out New Ways & Means Committee

Main Street business tax treatment was a big theme during the Ways & Means Committee’s first hearing of the year. Its purpose was to look at the state of the economy, but key members kept raising the question of how to best treat pass-through businesses in tax reform. Carrying the flag for S corps was our longtime S-CORP Champion Dave Reichert (R-WA):

Reichert (1:53:00): In another area where we have the ability to boost our economy – through tax reform, as has been mentioned, and which would benefit businesses large and small — what about pass-through businesses…which face a …

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admin2019-02-01T20:00:11+00:00January 16, 2015|

S Corporation News Clips | December 15-23, 2014

A compilation of the tax-related stories that caught our eye:

Business Tax Reform

The White House is planning on meeting with Republican lawmakers in the days leading up to the State of the Union to push their tax reform plan, pledging to “make sure that we put forward some pretty specific proposals…” Tax reform came up during the President’s year-end press conference as well, part of his ongoing message that he “wants a serious attempt at tax reform next year.”

Combine those comments with noise from the Hill and downtown and there seems to be a critical mass of interest …

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admin2019-02-01T20:00:30+00:00December 23, 2014|

Extenders Clear the Senate

Although it’s not ideal and expires in just two weeks, we are glad to report that the tax extenders bill finally passed in the Senate last night by a 76-16 vote and is on its way to the President’s desk.

Among the 55 provisions included in the bill are the reduced five-year built-in gains holding period and the basis adjustment fix for charitable contributions. The package, however, is a one year retroactive extension of the expired provisions through 2014, and will therefore expire at year’s end.

Interestingly, Senate Finance Chairman Ron Wyden (D-OR) voted against the bill, as did Sen. …

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admin2019-02-01T20:01:38+00:00December 17, 2014|