BONNERS FERRY — Members of the Chamber of Commerce gathered together at Heart Rock Wines to discuss, over wine and dinner, local businesses and items of interest that may affect local business owners.
“It was well run and having it at one of the Chamber’s businesses is a great idea,” said Linda Hiatt.
Three speakers presented a wealth of information to local business owners: Deborah Youngwirth of Youngwirth, Davis and Associates; Ginny Kirsch from the Pearl Theater; and Dennis Weed, who is the Boundary County Economic Development Council’s executive director.
One of the main topics in discussion is the new tax plan and how it affects local businesses.
“S-corporations, LLCs and partnerships — who pay their share of the business’ taxes through their individual tax returns — will be lowered thanks to a 20 percent deduction,” according to Danielle Wiener-Bronnern, CNN journalist. “The 20 percent deduction will not be available to anyone in a service business — unless their taxable income is less than $315,000 if married (or $157,500 if single).” **
“Deb was not real long with a lot of info, she helped us understand some of the laws coming up and that the new tax laws will help all us small businesses,” said Rich Beck, from Beck’s Furniture Store.
There was much to discuss about local businesses as well, not merely the tax plan.
“Dennis Weed was short but good and I got to ask some good questions that he answered, and I got to give my opinions to him of what I would like to see, as far as businesses to come in to Bonners Ferry,” said Beck.
“I’m hoping that other businesses will pick up on helping with the Kootenai River Days celebration,” said Hiatt. “That used to be a big event for Bonners Ferry. It sounds like they have some good plans so far and I’m sure would like more input.”
The next meeting for discussion of the upcoming Kootenai River Days and the events leading up to it will be at Mugsy’s Tavern and Grill on Feb. 8 at 6 p.m.
“Bring a friend, enjoy the great food, tasty beverages and be ready to share your wonderful ideas, events or fundraisers. Vendors and local talent are encouraged to come,” according to the Bonners Ferry Chamber of Commerce website.
Upcoming meetings, locations and dates will be posted on their website.
With much to discuss about many topics pertaining to local businesses, the Chamber of Commerce holds its meetings on the third Thursday of each month at noon in various locations around town. Their next meeting will be Feb. 15, at noon at the Oriental Garden.
For more information and schedules, visit their website at http://bonnersferrychamber.org or contact Melinda at firstname.lastname@example.org.
For more information and to read about the new tax reform, visit http://www.cnn.com/2017/12/15/politics/text-read-tax-plan-republicans/index.html.
** Wiener-Bronnern’s full article is viewable at: https://www.eastidahonews.com/2017/12/tax-questions-answered/
It is a good place to read how the new tax reforms will affect local residents, as she not only covers business owners, but homeowners and students.