S-Corp sent its members a new survey this Spring.  The goal was to follow up the survey we did just after tax reform was enacted to see how things had evolved.  Now that our members had a year to digest the new rules, where did they stand?  Here are the key takeaways –

1. Seven out of ten say their taxes went down or stayed about the same;
2. Four out of five say making permanent the 20-percent 199A deduction is a priority; and
3. Seven out of ten plan to remain S corporations in the near future.

That’s not bad, considering where we …

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The visual economist issued another great chart last month, this time showing the largest public companies by market cap.

Our first reaction is, wait, Microsoft is number one?  When did that happen?  All the focus on FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) and stodgy old Microsoft is bigger?  Go figure.

Our second reaction is “Gee Grandmother, what big market caps you have.”  These companies are huge!  And that’s not limited to the ten companies illustrated here.  Measured against GDP, the market cap of all public companies in the US has …

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The S Corporation Association sent comments to the Department of Treasury today raising concerns that recent guidance it published has the potential to impose the new, Section 4960 excise tax onto private operating companies.

The tax is supposed to be targeted at big non-profits and universities that pay their executives and coaches salaries in excess of $1 million per year, but due to expansive definitions of “employee” and “related organization” included in the department’s guidance (Notice 2019-09), the tax could be paid by many family businesses with related foundations and other charities instead.

Worse, the new law is written in such …

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