Talking Taxes in a Truck Episode 46: Tom Nichols on the Backdoor Tax Hike That Needs to be Repealed

Talking Taxes in a Truck Episode 46: Tom Nichols on the Backdoor Tax Hike That Needs to be Repealed

Tom Nichols, partner at the Milwaukee-based Meissner Tierney Fisher & Nichols, longtime advisor to S-Corp, and author of an excellent new piece [https://s-corp.org/2025/12/taxing-losses/] exposing the Section 461(l) Excess Business Loss limitation for the money-grabbing fraud it is. Tom walks through the provision’s origins, the harm it does to affected businesses, and how flawed revenue estimates drove the policy. We also get into our SALT Parity efforts and how the state laws and legal analysis he drafted helped pave the way for $20 billion in annual tax savings for Main Street businesses.

#47 Up for Review: The Case of the Missing Plausibility Standard

As the Wisconsin Supreme Court’s 2024–25 term comes to an end, James and table discuss four of its recent decisions, including WMC v. DNR, Hubbard v. Neuman, LeMieux v. Evers, and Kaul v. Legislature.

#46 High School Sports and Thieving Employees

James and Caleb dive into a pair of decisions from the Wisconsin Supreme Court, including Halter v. WIAA and Cota v. Oconomowoc Area School District. Oh, and a new justice was elected (along with two (!) new chief justices).

#45 Up for Review: No Vacancy

James and Caleb explore three recent decisions from the Wisconsin Supreme Court, covering cases that range from the political to the nuances of appellate procedure.

#44 Up for Review: Remaking Rulemaking

James and Caleb examine two cases at the Wisconsin Supreme Court that could potentially transform rulemaking in Wisconsin, along with a medical malpractice case and a collective bargaining case.  Attorneys Featured: James M. Sosnoski and Caleb R. Gerbitz