Flathead Business Watercooler

PeerSpectives taking new cohort applications

PeerSpectives, a roundtable system for leaders of second-stage companies, is seeking eight to 12 business executives to join a confidential forum.

The program is designed to develop entrepreneurs and support business growth in the Flathead Valley. PeerSpectives is a program for CEOs of second stage companies, typically organizations with annual sales of more than $1 million and 10 employees or more. PeerSpectives benefits business leaders who are looking for more dedicated time to work on their business and improve their decision-making through support and connection with other dedicated entrepreneurs.

The new cohort of PeerSpectives will launch in late January 2022. Limited spaces are available. Apply before Jan. 7 at https://dobusinessinmontana.com/peerspectives/.

IRS highlights tax provision

The Internal Revenue Service and Montana Nonprofit Association are encouraging Montanans to take advantage of a new tax provision for charitable giving.

This pandemic-related provision provides an opportunity for married couples filing jointly to deduct up to $600 in cash donations and individual taxpayers to deduct up to $300 in donations.

Under the temporary law, taxpayers don’t need to itemize deductions on their tax returns to take advantage of this, which creates tax-favorable donation options not normally available to about 90% of tax filers. Ordinarily, people who choose to take the standard deduction cannot claim a deduction for their charitable contributions. But this special provision permits them to claim a limited deduction on their 2021 federal income tax returns for cash contributions made to qualifying charitable organizations by year’s end, Dec. 31.