The Washington Wire Archive - The S Corporation Association

Small Business Exporters to the Rescue

In a bit of good news, the new trade numbers came in and are in line to add 1.8 percent to the GDP in the second quarter. That, and stronger than expected retail sales numbers, should result in GDP growth of more than 2 percent in the second quarter, putting another dent in public perception that we are in the midst of a recession.

The explosion of exports over the past couple of years is an under-reported story. Exports are up nearly 18 percent in just the last twelve months and …

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admin2019-02-06T18:06:07+00:00July 11, 2008|

Stimulus Getting More Ink

Several papers are reporting what we have been hearing for the past week – a possible second economic stimulus package is in the early stages of discussion. As the Wall Street Journal reported:

Senate Majority Leader Harry Reid (D., Nev.) said he had spoken to the Democratic leadership in the House of Representatives about a second economic-stimulus package, in another attempt to bring the country out of what increasingly seems to be a severe economic downturn.

If Congress takes up another stimulus package, it will likely be in September, not July, and it should include …

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admin2019-02-06T18:06:08+00:00July 11, 2008|

S Corporations and the Estate Tax

With a large fraction of the tax code expiring in the next couple of years, the big surprise may be the growing consensus for compromise over the estate tax. The estate tax is scheduled to go away in 2011 followed by its return in 2011 with a top rate of 55 percent and a $1 million exemption per spouse.

How did the estate tax, perhaps the most contentious and divisive of taxes, get to the head of the line of possible compromises? A couple of factors appear to be in play.

For legislators who support full repeal, the prospect of allowing the …

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admin2019-02-06T18:06:08+00:00June 26, 2008|

S Corp Testifies in the House!

This week the House Committee on Small Business held a hearing to consider reforms that would promote equality and growth for S corporations. Rick Klahsen, a member of the S Corporation Association’s Board of Advisors testified on our behalf.

Rick’s testimony reviewed the dramatic growth of S corporations over the last half-century and identified critical reforms Congress should consider to improve the S corporation rules and level the playing field …

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admin2019-02-06T18:06:08+00:00June 20, 2008|

Busy Week in Washington

Lots of activity on tax policy with implications for S corporations this week.

On Monday, the White House held a forum on the expiring tax relief and its potential to hurt the economy if it is not extended. In preparation for the forum, Treasury issued a collection of issue summaries that focus on the importance of keeping tax rates low, including the top two individual tax rates most in danger of going up in the next Congress.

As friends of S-Corp know, the debate over the …

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admin2019-02-06T18:06:08+00:00June 5, 2008|