marginal tax rates - The S Corporation Association

Jobs Bill on Senate Floor Next Week

Senate leadership has committed to taking up a Jobs bill next week. The details of the package are still being worked out, but the list released by the Senate Democrats includes:

Job Creation tax credit
UI and Cobra Extensions
Bonus depreciation and 179 expensing
Highway funding
Build America Bonds
SBA loans
Export Promotion
Some energy related tax items

Although it’s not mentioned, we do expect the tax extenders to also be part on the mix. On the other hand, an estate tax fix is not likely to be included. Senator Reid told reporters that he still plans to move legislation restoring the estate tax, …

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admin2019-02-06T17:21:00+00:00February 5, 2010|

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|

House Releases Health Care Legislation

As expected, House Leadership released its health care reform plan yesterday — America’s Affordable Health Choices Act of 2009 (H.R. 3200). As you can imagine, there are any number of provisions to explore in a 1000-page health care bill, but for S corporations, the big four items appear to be:

The new health insurance exchange;
The surtax on high income individuals;
The health insurance tax credit for smaller firms; and
The payroll tax penalty for non-participating firms.

Supporters of the plan argue that the combination of the health care exchange and …

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admin2019-02-06T17:21:56+00:00July 15, 2009|

The Washington Post Discovers Small Employers

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 …

(Read More)

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

(Read More)

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