Wineries & Vineyards
Articles
New Depreciation Incentives: Does Your Winery Qualify? by Craig Anderson, Partner, and Michael Ricioli, Senior Manager, Moss Adams LLP (Wine Business Monthly, February 2010: used with permission)
There are many strategies a winery can implement to maximize the return on its investments, including depreciation. Taking depreciation on a tax return can affect a business's bottom line in immediate and often sizeable ways. Does your winery qualify? Could recent legislative incentives associated with depreciation strategically and beneficially impact your winery?
IRS Settling LIFO Audits, Proposes Stringent New Inventory Definitions with Michael Ricioli, Senior Tax Manager, Moss Adams LLP (Wine Business Monthly, December 16, 2009)
Through extensive audits that began last April, the IRS has been challenging the LIFO accounting method of several wineries. The IRS recently presented their interpretation of LIFO and how it applies to wineries. and offered the wineries four LIFO options to choose from that would bring resolution to their audits. The wineries are in the process of evaluating the proposed options.
Any winery either using or contemplating using the LIFO accounting method should take note of these developments, and should seriously consider evaluating their current or proposed LIFO method.
LIFO for Wineries: Here Today, Gone Tomorrow? by Jeff Gutsch, Tax/Business Consulting Partner, Moss Adams LLP (Wine Business Monthly, October 15, 2009)
If the results of current IRS winery audits indicate a high incidence of "noncompliance," the future of one of the few remaining tax advantages for wineries may be in doubt and wineries across the U.S. could be at risk. Will the current last-in, first-out (LIFO) tax advantage be gone tomorrow? What could an IRS resolution mean for the wine industry?
Wine Industry Roundtable: Discussion Summaries
Winter 2010—Intentional Success: How Wineries are Combating the Doom and Gloom
Learn how some wineries are strategically combating and succeeding against the economic environment—and how you can, too.
Fall 2009—State of the Industry
Like many other businesses, wineries and vineyards continue to be at the mercy of an uncertain economic climate. What can growers and vintners do to adapt to consumer trends and maintain their businesses’ financial strength? What will 2010 and beyond look like?
