Comments on: Congress Hates Small Businesses

By: Senate Votes to Eliminate Tax Deduction for Punitive Damages | taxgirl

Senate Votes to Eliminate Tax Deduction for Punitive Damages | taxgirl — Mon, 21 Jun 2010 12:22:56 +0000

[...] to Congress: All of the tissue flowers in the world aren’t going to make that s corps provision any more [...]

By: forex robot

forex robot — Thu, 17 Jun 2010 08:06:06 +0000

Keep posting stuff like this i really like it

By: JimG

JimG — Tue, 15 Jun 2010 23:55:35 +0000

Note to Congress. You sock this on me but not on my bigger competitor down the street? Anyone who votes for this monstrosity will never get my vote again.

By: Forecast: More Snowe in June | taxgirl

Forecast: More Snowe in June | taxgirl — Sat, 12 Jun 2010 22:58:31 +0000

[...] small businesses collectively hold their breath this summer over the inane Congressional proposal to tax some – but not all – s corporations differently, Sen. Olympia Snowe (R-ME) is offering some hope. Together with Mike Enzi (R-WY), she [...]

By: Who Hates America’s Small Businesses? H.R. 4213 American Jobs and Closing Tax Loopholes Act of 2010 Does. « Stacie's More Tax Tips

Fri, 04 Jun 2010 18:05:54 +0000

[...] at the weird revenue grab from small S corporation professional practices contained in HR 4213. TaxGrrrl, Kay Bell, Robert D Flach, and Monica Lawver (UPDATE – Russ Fox, too) have all raised the [...]

By: Katrina

Katrina — Thu, 03 Jun 2010 19:44:52 +0000

This is was rightone Tax girl. I’ve been following the American Jobs… and not sure how I missed this “Loophole” but I’m glad I found your blog. I’m outraged at this especially as an African American women who’s main business is in professional services. I like what Bobby said “Yay for the government biting the hand that feds them”

You are right about that!

By: House Passes Tax Extenders Bill | CafeTax

House Passes Tax Extenders Bill | CafeTax — Tue, 01 Jun 2010 15:32:08 +0000

[...] makes it very clear where issues will arise shall this bill be passed. Kay Bell also refers to Joe’s blog and talks about Congress sticking it to small [...]

By: Jessica Dorsett

Jessica Dorsett — Tue, 01 Jun 2010 15:09:09 +0000

Thank God it’s an election year. I’m so fed up with Congress.

By: Pancho

Pancho — Sun, 30 May 2010 20:45:25 +0000

Kelly, perhaps you are right, but the penalties run up much further back in the history and complexities of our tax system. S corps are an attempt to straighten the distortions caused by the two-tier tax on limited liability businesses (corps). But the rules for S-corps are quite arbitrary. Why should we even have such two tiers imposed on any business?

Further, I think that the problem begins right with the preference that the tax code gives to debt financing. Deductibility of interest penalizes equity holders and businesses with fluctuating cash flows (as most small businesses are).

If we wanted to get serious about stimulating the economy and saving more, lets make interest non-deductible and scratch the corporate income tax (or, alternatively, the capital gains tax).

By: Bobby Huang

Bobby Huang — Sun, 30 May 2010 20:28:24 +0000

Yay for the government biting the hand that feeds them.