Archived Newsletter: Released 9/4/2019

This is an archived copy of the email that was sent.

In this September edition of The Business of Wine (see more info below):

  1. We are still waiting for all of the tax authorities to agree on critical provisions of the federal tax law changes that took effect in 2018 but thankfully, California has just decided to adopt some of the more critical key provisions.
  2. Next we take a look at changes in record keeping for expenses. We don't like dealing with all of those receipts either so read on for tips on using your phone to simplify your life.
  3. Don't forget your upcoming estimated tax payments are due on 9/16. We share some options for getting those payments in on time.
  4. We have two more free classes planned for this year. Check out the schedule below.
  5. And finally, here are some happenings and charitable events including wineries around the valley.

1. California: Better Late Than Never

As of July 1, 2019, California legislators have agreed to follow certain key business tax provisions of the 2018 Federal Tax Cuts and Jobs Act, fondly known as TCJA. This law was passed at the federal level in December of 2017. California’s late conformity with the following provisions means that wineries who benefited from federal tax law changes may want to take another look at their 2018 business tax returns (even if already filed) to determine if there are available California tax savings. Read Full Article.

2. Employee Expense Reports Are More Important Than Ever

No one likes to keep track of their receipts, fill out expense reports or maintain a mileage log--especially the very people in your business who spend a lot of their time on the road.

But thanks to changes in the tax law, failure to require those employees to keep track of their expenses and to provide support for any business expenses they incur could subject them to additional income tax (starting in 2018 and continuing through 2025). Read More.

3. Estimated Tax Payment Reminder – Due Date is September 16th

Don’t forget that estimated tax payments for federal and state individual income tax returns are due Monday, September 16, 2019.

If required, you received payment vouchers and information on making payments with your 2018 income tax return. If your income has changed in 2019 or if you don’t know if you should make a payment, please reach out to our team for help calculating your estimated payment. Read More.

4. Free BDCo Classes (sponsored by Napa Valley Vintners)

  • 9/17/19: How much does it cost to make this wine? Learn more here.
  • 11/12/19: An owner's guide to working with accountants. Learn more here.

5. Around the Valley

1. ZD Wines: In July, team BDCo had the opportunity to view the beautiful “rows and columns” that make up the vineyard at ZD Wines. The team was treated to an incredible food and wine pairing in the newly remodeled tasting room, a vineyard tour and a chance to see the bottling line in action. Read More.

2. Doug Shafer: Be sure to check out this entertaining and informative podcast featuring regular interviews of wine industry notables.

3. Locals Giving Back: Check out these events benefiting local charitable organizations.

Event and Link

Dates

Location 

Calistoga Harvest Table

9/8/2019

Lincoln Street, Calistoga

Safeway Open

9/23-9/29

Silverado Resort & Spa

Harvest Celebration and Stomp

9/20/2019

Castello Di Amorosa

Harvest Ball

9/14/2019

V. Sattui

Ride to Defeat ALS

9/21/2019

Napa Valley

ZD Crush Challenge

10/12/2019

North Yountville Community Park

 

   

 

Fire Relief Information for Wineries

Extended tax filing deadlines may apply. https://www.bdcocpa.com/resources/articles/137

Please reach out if we can help you in any way!  

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Please note our New Address as of September 18, 2020

Brotemarkle, Davis & Co. LLP
1000 Main Street, Suite 250
Napa, CA 94559 

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