The Barrett Group

I know many of my small business friends have been adversely impacted due to the worker shortage. Please make sure your accountant is aware of this available credit.

Thank you to all those making herculean efforts to keep their businesses afloat. Don't hesitate to contact The Barrett Group for assistance.

Employee Retention Credit - Source Advisors The ERC is a refundable credit that businesses can claim on qualified wages paid to employees during 2020 and 2021

The U.S. Small Business Administration is conducting a webinar for Tennesseans on the Paycheck Protection Program (PPP) First and Second Draw Loans and the Economic Injury Disaster Loans for Covid-19.

This is a free webinar. The next one is tomorrow, but there are multiple dates available. See the link below for more details.

Small Business Administration We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.

Have you been following the proposed Federal Tax Bill?

The bill is now on its way to the president's desk to be signed into law!

Below are a just a few of the highlights of the new law include:

• Pass-through filers earning under $315,000 (for married couples) can deduct 20 percent of their business income. For the typical small business with income of $100,000, that will reduce their taxes by thousands of dollars.

• The bill doubles the standard deduction, from $12,000 to $24,000 for married couples, and from $6,350 to $12,700 for individuals.

• It also allows small business owners to expense immediately the full cost of equipment.

I am pleased that Composite Solutions allowed The Barrett Group to assist with their IDB negotiations.

Not only can we assist with business negotiations, The Barrett Group can identify over expenditures and leaking revenue within your company.

http://www.cannoncourier.com/idb-seals-deal-to-add-25-local-jobs-cms-16935

IDB seals deal to add 25 local jobs The CannonCourier.com is the website for the Cannon Courier newspaper in Woodbury, Tenn.