Medicare - The S Corporation Association

Estate Tax Fix Poses Threat for Family Businesses

As we have noted, the stars appear to have aligned for a big estate tax compromise later this year, most likely to be focused on freezing the 2009 rules for at least a year. This means the current top tax rate of 45 percent and $3.5 million exclusion will stay the same for a while. But there’s lots of mischief that can take place under those broad levels.

As tax reformers will tell you, the base is just as important in determining your tax burden as the rates.

With that in mind, several S-Corp allies have pointed out legislation introduced by Congressman …

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admin2019-02-06T17:22:35+00:00February 20, 2009|

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 …

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

AMT and Other Updates

Just after Thanksgiving, we put together a list of the must-pass items that Congress would turn to in December, including the AMT/Extender package, omnibus spending bill, farm bill, S-CHIP, energy bill, and Medicare Doctors payment legislation.

With just a few hours to go in this congressional session, it looks like many of these items will clear the Congress “in one form or another” and be sent to the President. In just the last day, the two bodies dealt with the omnibus spending bill (including $70 billion to fund the war in Iraq), a six-month extension of doctors’ payments under Medicare and …

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admin2019-02-06T18:43:58+00:00December 19, 2007|

The End is Near (of the First Session)

Congress returns Monday with lots to do and just three weeks to do it. Here’s the list of must-pass items we’ve identified:

AMT Patch
Tax Extenders (Including the S Corporation Charitable Provision)
S-CHIP Reauthorization
All the Spending Bills
Increase Doctor Payments under Medicare

That’s enough to fill two months of session, let alone 21 days, but there’s more. In addition to these items that most observers agree must get done, there is also a long list of priorities that the majority would like to address before they go home for the holidays, including an energy bill, an agriculture bill, and more.

How will it all work out? …

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admin2019-02-06T18:43:58+00:00November 28, 2007|

Higher Tax Rates on Horizon

We’ve had numerous conversations in the past couple of weeks with S corporation owners about the tax outlook for the next couple of years, and it’s becoming apparent that the S-Corp community is underestimating the threat of higher tax rates on the horizon. With that in mind, here’s our best assessment of what to worry about, and when to worry about it.

First, in case you have not heard, all the major tax relief provisions enacted since 2001 will expire at the end of 2010 unless Congress acts to extend them. For S corporations, that means higher tax rates on your …

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admin2019-02-06T18:43:59+00:00November 7, 2007|