capital gains - The S Corporation Association

Senator Clinton’s Tax Policies – Bad for S Corporations

Recently, we reviewed Senator Obama’s tax policies and how they might impact S corporations should he become President. What about Senator Clinton? If she becomes President, how would her tax policies impact small and closely-held businesses?

In general, Senator Clinton has opposed the rate relief and other tax reductions enacted over the past eight years. As she told one audience:

I want to restore the tax rates we had in the ’90s. That means raising taxes on corporations and wealthy individuals. I want to keep the middle-class tax cuts, and I want to start making changes that will save us money, save …

(Read More)

admin2019-02-06T18:43:57+00:00March 31, 2008|

Obama and S Corporations

The Texas and Ohio presidential primaries are dominating the news today, so we thought web d take a look at the candidatesb tax policies and see how they would affect S corporations.B B Web ll start with Illinois Senator Barack Obama.

So would an Obama presidency be good for S Corps?B Hereb s a quick summary of his positions and how they might affect Main Street.

Income Tax Rates:B Obama supports letting the top tax rates revert to their pre-2001 levels.B In other words, the top tax rate would rise from 35 back …

(Read More)

admin2019-02-06T18:43:57+00:00March 4, 2008|

Peering into the Future of Tax Policy

We’ve been asked to gaze into our crystal ball and see what the future of tax policy looks like. For S Corporations, it looks a lot like when the Ghost of Christmas Future popped in to see Ebenezer Scrooge. Nothing has been etched in stone yet, but it’s still not a pretty picture of things to come.

On the macro level, three factors are going to frame the tax policy debate in the next Congress:

1. All the tax relief enacted in 2001 and 2003 expires at the end of 2010. Unless Congress takes action, tax rates on individuals and flow-through businesses, …

(Read More)

admin2019-02-06T18:43:57+00:00February 25, 2008|

President Bush Plugs S Corps in Chicago

Say what you want about this President, he understands the important role S corporations play in the economy and the critical link between low tax rates, business investment, and job creation. This excerpt is from the President’s speech in Chicago on Monday, but it could have come from any of his economic speeches over the past seven years.

“I don’t think there are many folks who believe that Washington really needs more of your money — I certainly don’t. Unfortunately, Americans could be facing higher taxes unless Congress takes action to stop it. You see, …

(Read More)

admin2019-02-06T18:43:58+00:00January 9, 2008|

Ways and Means Committee Chairman Introduces Estate Tax Relief

House Ways and Means Committee Chairman Bill Thomas (R-CA) has introduced legislation that would permanently extend lower taxes on estates. As S-CORP members may know, estate tax relief has been a top priority of the small business community and has particular importance for family-owned businesses.

The Thomas bill is intended to restart the debate on the so-called “death tax” after the Senate failed on a procedural vote to take up legislation (H.R. 8 ) to permanently repeal the estate tax. Senate Majority Leader Bill Frist (R-TN) has declared his intention to send the President a permanent estate tax relief bill before …

(Read More)

admin2019-02-06T18:47:19+00:00June 20, 2006|