The Washington Wire Archive - The S Corporation Association

Talking Taxes in a Truck Episode 38: Helping Students Read Better

Our latest podcast guest is Marc Matsoff, President of Read Naturally, a Minnesota-based company that helps developing readers of all ages.

Marc discusses the company’s fascinating history and how the S corporation structure has helped it stay in the family for three generations, as well as the various tax challenges they currently face – from the looming expiration of Section 199A to their inability to deduct their R&E tax regime.

This episode of Talking Taxes in a Truck was recorded on June 20, 2024, and runs 29 minutes long.

admin2024-06-22T14:46:35+00:00June 22, 2024|

Congressman Steube Hosts Main Street Employers Roundtable

More than 20 business owners and members of the Main Street Employers Coalition convened in Sarasota, Florida yesterday for a roundtable discussion with Congressman Greg Steube. The key topic – the Section 199A deduction – was one that’s near and dear to the hearts of tens of millions of Main Street businesses nationwide, yet is scheduled to sunset at the end of next year.

The businesses at the event were a microcosm of the broader Main Street community nationwide and represented a wide array of sizes and industries. On hand were …

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admin2024-06-21T13:59:47+00:00June 21, 2024|

Main Street 199A Resources

Back in 2021, we posted all the studies and other information we’d compiled demonstrating the outsized role family businesses and other pass-through employers play in the American economy. These businesses earn the majority of business income and they employ more than six in ten private sector workers. Any conversation about the economy and American competitiveness needs to start with them.

That post was part of the fight over the Build Back Better Act, legislation that would have literally taxed many family businesses out of existence. We won that fight, but now face yet another existential …

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admin2024-09-09T18:23:27+00:00June 20, 2024|

Breaking Down the False CTA Narrative

Tax Notes published a good summary of the state of play regarding the Corporate Transparency Act in last week’s edition, including highlighting the multiple lawsuits filed against the law and the several bills introduced to either delay or repeal the onerous new reporting regime. That said, a couple of items in the article caught our eye that are worth clarifying.

Compliance Costs

The article notes:

According to FinCEN estimates, businesses with simple beneficial ownership structures will spend about 90 minutes on average to fill out their paperwork and about 40 minutes to update it. Companies with more complex ownership structures could spend …

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admin2024-06-17T20:36:26+00:00June 17, 2024|

How Much is Fair?

Yesterday’s Senate Budget Committee hearing produced an interesting exchange that caught our attention. The hearing was entitled “Making Wall Street Pay Its Fair Share,” but when it came to defining exactly what “fair” means, the supposedly expert majority witnesses dissolved into an incoherent, dissembling mob.

It all started when Senator Ron Johnson (R-WI) posed the question to the first committee witness, Sarah Anderson from the Institute for Policy Studies:

Sen. Johnson: What percentage of an American’s income should the federal government be able to extract? What’s the maximum tax rate?

Anderson: I’d be happy to give you my preferred top marginal …

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admin2024-06-13T22:16:34+00:00June 13, 2024|