To evaluate your winery’s performance, it’s essential to have insight into its profit margins. Your winery’s profitability is driven by two things–what you can charge for your wine and what it costs to make and sell it. The market generally determines what someone is willing to pay for your wine, so the cost of making […]
Accounting for the Cost of Making and Selling Wine Read More »
With all the intricacies of bringing wine to market, accounting and finances typically aren’t a first priority. However, when wineries invest time and resources in these areas, they can derive valuable insights that may help increase profits. This can be particularly for true smaller wineries, given how crowded and competitive the market is. A significant
Understanding Your Costs: Tips for Wineries of All Sizes Read More »
An interesting thing happened in Hollywood during the pandemic. Many stars moved out of Los Angeles and migrated to states like Texas (such as radio personality Joe Rogan and the former Dawson’s Creek star James Van der Beek). In news stories, they usually stated it was to get away from the rat race and general craziness of L.A. (“To get
How Can Entertainers Save Money On Taxes? Read More »
Hiring has been an issue for manufacturers in the U.S. for years now. When Deloitte last looked at the issue in 2018, low unemployment was underscored as being part of the problem. But a new report on hiring in manufacturing found the issue persisted in 2020, a time of high unemployment during the pandemic. “Fast
Manufacturing, competing with distribution, struggles to attract labor Read More »
Waste is a terrible thing. And it’s a serious issue when too many people in the building and construction industry don’t realize that when they gut a building, they just shouldn’t dump all the interior contents in a landfill to compound toxicity—donate them to a charity like Habitat for Humanity for the use of others and get
When Gutting, Don’t Trash the Interior—Donate It to Charity for a Substantial Tax Break Read More »
Eligible employers may be able to claim a tax credit of up to $5,000, for three years, for the ordinary and necessary costs of starting a SEP, SIMPLE IRA or qualified plan (like a 401(k) plan.) A tax credit reduces the amount of taxes you may owe on a dollar-for-dollar basis. If you qualify, you
Retirement Plans Startup Costs Tax Credit Read More »
Are you confused about which electric vehicles (EVs) qualify for federal tax credits? You’re not alone. To clarify the rules, here’s a guide to EV and plug-in electric vehicle tax credits. It answers some crucial questions you might have about these incentives. How much is the credit? You’ll often hear that a credit is worth
Electric Vehicle Tax Credits: What You Need to Know Read More »
While monthly child tax credit payments have gotten more attention, the American Rescue Plan Act offers another benefit for families with younger children – an enhanced child and dependent care credit for 2021. Not only will millions of families get a larger credit when they file their tax return next year, but many more Americans will get the full
Child Care Credit Expanded for 2021 (Up to $8,000 Available!) Read More »
Beginning January 1, 2019 and ending December 31, 2026, Oregon allows an income subtraction for first time home buyers with qualified savings accounts in the state. This program allows qualified individuals to deduct up to $5,000 (single) or up to $10,000 (married filing jointly) from taxable income per year. Requirements You must be an Oregon
OREGON FIRST-TIME HOME BUYER’S INCENTIVE Read More »
Multnomah County voters approved a new personal income tax to fund preschool programs. The tax, effective January 1, 2021, is on individuals who live in Multnomah County or who don’t live in the county but receive income from Multnomah County sources. The tax is 1.5% on income over $125,000 (single) and $200,000 (joint) and 3.0%
New Portland Tax Further Complicates Oregon’s Tax Landscape Read More »
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