Changes in the Tax Cuts and Job Acts will require changes to your chart of accounts.
The tax law made it possible for more wineries to elect the cash basis of accounting for tax purposes. Here's what you need to know.
HIghlights of the new Tax Law
Do you have proper documentation of your business expenses? If your expense is less than $75, documentation is not required, otherwise, you can use your mobile device.
New regulations expand the definition of "Research and Experimentation" for wineries.