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Tax changes topic for Ellsworth chamber speaker

Lonnie Feuerhelm of Feuerhelm Langer Ltd. discussed tax changes with Ellsworth Chamber of Commerce members Thursday. The end of a tax reciprocity agreement between Minnesota and Wisconsin will affect many taxpayers in this area, Feuerhelm said.1 / 2
The Rock N'Roll Café in Ellsworth's west business district was the site of a local chamber of commerce ribbon cutting Thursday. The new café, owned by Kerry and Cheryl Johnson, also hosted the chamber's monthly meeting that day. -- Photos by Bill Kirk2 / 2

In the midst of the tax season, Ellsworth Chamber of Commerce members heard about some tax changes Thursday.

Lonnie Feuerhelm of Feuerhelm Langer Ltd. told the difference between corporations and LLCs. The latter offer corporation-like protection, but also provide tax options, Feuerhelm said. Their purpose is to simplify arrangements for small businesses.

"You don't need to keep minutes," he cited as one example of a requirement corporations face.

Section 179 of the code addresses tax breaks, he said. Business owners can now write off the entire amount of some purchases for the first year. A special tax write-off has become available for remodeling restaurants. Additionally, retail improvements might qualify for a write-off, unlike previously.

Read more in the print version of the Herald Feb. 2.

Bill Kirk

Bill Kirk was editor of the Pierce County Herald in Ellsworth, from 1988 to February, 2015 and is now on staff as a reporter. He holds a bachelors degree in journalism from the University of Wisconsin-Eau Claire. He previously worked in the media distribution department at the University of Minnesota's Minneapolis campus and is past editor of The Tri-County News in Osseo, Wisconsin.

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