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. 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)
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.