capital gains - The S Corporation Association

Items Remaining on the Congressional “To-Do” List

Friends of ours who follow Congress have begun quoting the old country and western song, “How Can I Miss You If You Won’t Go Away?” With Christmas less than two weeks away, Members of Congress would like to leave soon, but a long list of to-do items still stands in the way:

Health Care Reform: Majority Leader Reid is still pressing to get the Senate bill finished before Congress leaves for the New Year. He still might make it, but the odds against him are climbing rapidly.
Government Funding: Congress passed a batch of …

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admin2019-02-06T17:21:55+00:00December 15, 2009|

S-Corp Organizes Defense of Family Business

Led by S-CORP, a coalition of fifteen small business trade associations sent letters last week to the Senate Finance and House Ways and Means Committees urging policymakers to protect the interests of family-owned businesses during the upcoming estate tax debate.

“Penalizing businesses simply because they are family-owned is inconsistent with good tax policy, it creates an unworkable framework with two conflicting definitions of fair market value, it makes it more difficult for these family businesses to be passed on from one generation to the next, and should be rejected by Congress,” the …

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admin2019-02-06T17:21:55+00:00November 2, 2009|

S-Corp Modernization Bill Introduced in the House

Good news! Last week, S-CORP Champion Congressman Ron Kind (D-WI) introduced the “S Corporation Modernization Act of 2009.” Joining Congressman Kind in sponsoring the legislation were fellow Ways & Means Committee Members Wally Herger (R-CA), Allyson Schwartz (D-PA) and Dave Reichert (R-WA).

The legislation is the companion bill to legislation (S.996) introduced in the Senate earlier this year, and represents the priorities of the S Corporation Association for the 111^th Congress, including a provision to make permanent the built-in …

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admin2019-02-06T17:21:56+00:00June 25, 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 …

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

Budget Process and Reconciliation

Both the House and the Senate completed their respective budget resolutions last week. The plan now is for the two bodies to get together to resolve any differences and produce a single budget in the form of a conference report. We expect most of those discussions to take place over the next couple of weeks.

One of the key questions for budget conferees is whether or not they will include reconciliation instructions for health care reform and climate change. As S-CORP readers know, the virtue of reconciliation is that it lowers the bar to pass something in the Senate from a …

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admin2019-02-06T17:22:35+00:00April 8, 2009|