You worked hard and started your wine business from the fertile ground up. It’s been a long, hard road but your winery or vineyard is finally becoming successful – congratulations! But are you getting in over your head? Are you still working on filing your growing business’ 2017 taxes? Statistics show that wine sales are only improving from 2017 and that means more money for your business. Are you prepared and up to date with your vineyard and winery accounting? Luckily, the team at C&D specializes in vineyard financial services, winery accounting, and much more- we are here to help winery owners!
Wine Industry
It’s a good time to be in the wine industry. Wine sales in 2017 reached $41.8 billion according to Wines and Vines, which is up 2% from 2016. This year will be even more beneficial for business owners selling wine. In 2018, the Craft Beverage Modernization and Tax Reform Act was passed, giving wineries in the United States much-needed tax breaks. The Tax Cuts and Jobs Act of 2017 also introduced several tax benefits that will impact the wine industry. That means there is money to be saved since the reform act will reduce excise tax payments and you may be able to accelerate your depreciation deductions. But between your time out with your vines, crushing grapes, or talking with customers in the tasting room about your new Cabernet Sauvignon or Pinot Noir, there can be little time for reading about tax laws.
Let C&D do the legwork for you. We will not only help you get the most return on your taxes, but we’ll also be there with you as an ongoing business partner and confidant. Our team at C&D specialize in agriculture accounting and have served wine business owners in Central California and the Napa Valley for years. Our clients range from small boutique vineyards to wineries that sell over 100,000 cases annually. Let’s just say wine is C&D’s tax expertise.
Winery Accounting Services | C&D
The CPAs at C&D know where to look for tax advantages in the agriculture industry and winemaking process. Let us help you navigate the complicated and ever-changing tax code. Having a CPA firm working closely with your vineyard and winery with financial reporting and accounting methods will allow you to have more time to do what you set out to do: grow quality grapes and make delicious wine for the world to enjoy.
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