Subchapter S News Today

Mentorship and s. T. E. A. M. Opportunities and how to develop opportunities for the work force and leverage the programs that the Small Business administration as well as other Government Agencies have for Small Businesses. Lets talk about what you expect to come from this. Shirley, lets start with you. It is one thing to be on a listening tour. Its another to put it in action. Did you get the sense theres going to be something within this administration to help Small Businesses that is differe...

On your show earlier we had the young lady who was talking about jpmorgan. this is how they get away with this rhetoric of claiming it is a tax break for the rich when it is not. what about the 30 million small businesses, 30 million of them that file as subchapter s and these are the ones that are going to benefit. thats a middle-class tax cut. >> harris: thats the tax component of this. it back on health care, labarre alexander is saying we have been stuck in a partisan stalemate and we are tr...

Finance their projects. >> speaker, youre talking to a human being. but youre also talking to a subchapter s corporation. and so this corporation loves your tax bill. it will take my rate from 39% to 25%. why in the world? >> can i ask you a lot of personal questions? >> no. >> this is one of the things our tax writers, which i used to be one, has to look at. take the best quarterback in america, aaron rodgers. we dont want a tax law that says aaron rodgers gets his salary from the green bay pac...

Tax rates are coming down for all businesses, all people. the president may sometimes go back and forth on some things. on this issue, he has been repetitive. clear, even what you thought he would back off, he said let me make it clear. rates are coming down. he is in love with the number 15 rather than 35. corporate rates. and for pass throughs for smaller businesses like partnership and subchapter s . maria: that will be a big deal. but i cannot imagine he is getting 15% on a corporate tax rat...

Excited about that. >> why do you have a hard time giving to small businesses? >> because of some of the regulations because of how womens credit scores tend to be different from mens credit scores. as a minority, how our credit scores lag behind some people. one size fits all approach doesnt work. >> got it. >> people that can get the money arent always the people that need the money the most. >> shirley? >> i would be disappointed if i didnt see a decrease in taxes. that is one of the major di...

Manufacturers in the united states. at these current tax rates, if they are not extended, we will pay our taxes on the individual rate up to 40 percent on the federal level. >>stuart: that is very important. you are a subchapter s, which means, doesnt it, the profits go to you and are taxed as personal income to you, not like any other kind of corporation. so, you pay personal income tax rates, right? >>guest: that is correct. >>stuart: do you think there is a good shot that the maximum rate goe...

And why you think lowering taxes has been the key to your success. >> when governor brown back and i came into office 18 months ago we had a $500 million deficit. we had been losing jobs over the last decade, actually losing population to other states. we just couldnt do that. we were the highest taxed state in many states around us. so we just couldnt do that anymore. we were losing private sector jobs. what weve done, we made an approach, lets work with business and small businesses. so were c...

Overreliance on that one percent in a second. mike, people do have the option of moving. there is a guy named richard vettter in ohio university. he found 1100 people a day including sundays and holidays moved out to high tax states moved to florida or texas. >> thats rightt. that is the millionaires tax in new york state. it is reallyy for incomes of $250,000 or more. it is not just millionaires. $250,000 for a small business owner who has a subchapter s is a very small business and these are t...

Wealthiest at its lowest level in a century. should everything be on the table in how do you make up the revenue here? >> you actually go back to somewhat where im hoping the president was leading, which is from his own deficit commission saying, look, were going to have to lower marginal rates, broaden out the base, take away a lot of the special exceptions, these special lobbyist-driven tax cuts. but you also now got to deal with another problem from the presidents own state of the union speec...

People working. im not sure it can change just because somebody throws something in there. >> gregg: the problem with almost 10% unemployment is jobs, there arent enough out there. since small businesses account for roughly 70% of job growth and since most small businesses actually pay individual tax rates under the subchapter s, would allowing the bush tax cuts to expire only make unemployment worse? >> they have to. we talk about the word business, it is not business, its people. people make t...