Tax Policy - The S Corporation Association

The Washington Post Discovers Small Employers

The Washington Post this week reported on an issue that shouldn’t come as a surprise for S-CORP readers: President Obama’s tax plans could hurt many of America’s small businesses. Small business owners who report their business profits on their personal income returns (like most small business owners do) are suddenly finding themselves classified as the “richest” Americans, and thereby subject to Obama’s tax increases. The Post explains:

Across the nation, many business owners are watching anxiously as the President undertakes expensive initiatives to overhaul health care and expand educational opportunities, while also reining …

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admin2019-02-06T17:21:56+00:00April 28, 2009|

The Washington Post Discovers Small Employer

The Washington Post this week reported on an issue that shouldn’t come as a surprise for S-CORP readers: President Obama’s tax plans could hurt many of America’s small businesses. Small business owners who report their business profits on their personal income returns (like most small business owners do) are suddenly finding themselves classified as the “richest” Americans, and thereby subject to Obama’s tax increases. The Post explains:

Across the nation, many business owners are watching anxiously as the President undertakes expensive initiatives to overhaul health care and expand educational opportunities, while also reining …

(Read More)

admin2019-02-06T17:21:56+00:00April 28, 2009|

Middle-Class Tax Increases on the Horizon

Last Wednesday’s The Hill included a comprehensive overview of the exploding spending and deficit picture and calls into question President Obama’s ability to live up to his long-held promise not to raise middle class taxes. It’s worth a look.

For the past half-year, your S-CORP team has focused on President Obama’s long-stated goal to pay for health care reform and his other spending priorities by raising taxes on American families making more than $250,000 per year, all while cutting taxes for middle-class families.

With the Federal deficit approaching $2 trillion this year, however, just how does one expand government, reduce the deficit, …

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admin2019-02-06T17:21:57+00:00April 21, 2009|

Small Business and Tax Rates — The Debate Continues

The advocates over at the Center for Budget and Policy Priorities (CBPP) issued a new study last week demonstrating, once again, how few “real” small businesses would be adversely affected by raising the top two income tax rates back to their old 39.6 and 36 percent levels. As their study states:

“Some critics of the President’s budget charge that his proposals to roll back tax breaks for taxpayers with incomes over $250,000 would harm small businesses. In fact, only 8.9 percent of people with any …

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admin2019-02-06T17:22:35+00:00March 4, 2009|

Obama’s Tax Plans Take Shape

President Obama released a 140-page outline of his budget today that reflects his revenue and spending priorities for the next couple of years.

Chief among these is a major change in federal health care policies. As made clear in his speech to Congress the other day, health care reform is first among the several big reforms on the table and his budget sets aside $634 billion of the estimated $1 trillion he plans to spend on the plan.

To raise the $634 billion, Obama calls for: 1) limiting itemized deductions for …

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admin2019-02-06T17:22:35+00:00February 26, 2009|