SALT Parity Archives - The S Corporation Association

The 2020 Elections and their Implications for Private Businesses

Are you a fan of the Progressive Insurance commercials making fun of mismanaged Zoom calls? Then you’ll love the blank Zoom screen for the first 10 minutes of our most recent S-Corp Member call covering the 2020 election results and what they mean for private companies. You can access the full video here. You can access the slide deck here.

We’re biased, obviously, but we think it’s well worth watching, particularly the portion focused on what companies can expect moving forward, as well as the BIG news (covered at the …

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The 2020 Elections and their Implications for Private Businessesadmin2020-11-11T20:55:55+00:00

Treasury Blesses SALT Parity Reform

Huge news out of Treasury yesterday – the Department has blessed our SALT Parity reforms. You can read the full Notice here. As Law360 reports:

BREAKING: Treasury To Say Pass-through SALT Workarounds OK

State and local taxes imposed at the entity level on pass-through entities are permitted as a deduction and this “is consistent with the longstanding position” of the U.S. Department of the Treasury and the Internal Revenue Service the agencies said Monday.

This announcement comes on the heels of the election results that have all but eliminated any remaining uncertainty about the value of …

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Treasury Blesses SALT Parity Reformadmin2020-11-13T15:23:55+00:00

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.

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SALT Parity Updateadmin2020-03-06T19:33:31+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 Updateadmin2020-02-28T21:12:28+00:00

Main Street Responds to House SALT Bill

Yesterday, the Main Street Employers coalition sent a letter to House tax writers raising concerns with their plan to provide temporary relief from the SALT deduction cap by raising the top tax rate applied to pass-through business income. As the letter states:

Individually and family owned businesses organized as S corporations, partnerships and sole proprietorships are the heart of the American economy. They employ the majority of workers, and they contribute the most to our national income. They also pay the majority of business taxes. A recent study by EY found that pass-through businesses pay 51 percent …

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Main Street Responds to House SALT Billadmin2019-12-11T15:18:16+00:00