This week’s guest is Tony Simmons, the former President and CEO of McIlhenny Company and long-time Chairman of the S Corporation Association. Tony shares the history of Tabasco – starting with a single pepper plant back in 1868 and now a storied worldwide brand – as well as the importance of family-owned businesses and the role that tax policy plays in deciding whether to pass a company down from one generation to the next.

This episode of the Talking Taxes in a Truck podcast was recorded on June 22, 2023, and runs 35 minutes long.

 

For today’s Debt Ceiling-themed episode, we’re joined by repeat guest Joe Lieber, Director of Research at Washington Analysis, an institutional research firm that closely tracks the goings-on in Congress. Joe offers his thoughts on the debt limit negotiations and the odds of a deal being reached, the surprising dynamics within the House Republican caucus, and which provisions are likely to emerge from a potential deal. Later he breaks down how Wall Street and Main Street are reacting to the impasse, what a default on US debt would look like, and the broader implications of growing debt and deficits to S …

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With the 118^th Congress underway, there’s a general sentiment that the next two years of divided government will be a quiet place for tax policy. To explore that question we invited Marc Gerson, Miller & Chevalier’s Tax Department Chair and longtime S-CORP ally, for a return visit to the podcast. Marc breaks down the tax policy to-do list facing Congress, runs through the actions Treasury might take in lieu of congressional action, and reminds us that, in Washington, no bad idea ever truly dies. Brian and …

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If you operate a business, your inbox is probably full of solicitations from firms promising a big payday through the Employee Retention Credit. We receive several a day, which got us wondering – what’s the real story here? To address that question and more, we invited Lynn Mucenski-Keck, a Principal at Withum and prolific writer on federal tax policy to discuss the history of the ERC, the interplay between the credit and the Section 199A deduction, and why promises of free ERC money should be approached cautiously.  We also discuss the lame duck Congress, the prospects for a holiday tax …

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