Inventory is arguably the most complex accounting function for wineries, starting with harvest. Harvest is the most exciting and demanding time for wineries, requiring a lot of information to be communicated back to your accountant. Still, luckily some information can be provided before this hectic period. Grown or Purchased Grapes To provide the appropriate…
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I was recently reminded of how complex government programs can be and how they can evolve. Even to people who deal with tax laws and government programs on a regular basis, opportunity can be overlooked. I was speaking to a friend and business owner over dinner several months ago. We were talking about the economy,…
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As with many cycles in business and life, our country has reached a point in time when generations are moving into different stages of their lives, giving rise to new opportunities for less experienced individuals. The shift brings about a mixed bag of challenges and benefits. There is likely sadness and some grieving as experienced,…
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The Spring of 2022 marks the beginning of the third year of the COVID-19 pandemic. While many Americans believe the pandemic is over with life returning to pre-pandemic normal, it is certainly not behind us. The landscape of the pandemic has merely shifted to a new “normal”. This new normal includes continuing mask mandates, vaccine…
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Business owners often ask, “When is the right time to sell my business?” The answer is some version of “A good time to sell is when there is a seller’s market, and the owner and the business are prepared”. Simple enough, but there is a lot to unpack in this response. Don’t Try to Time…
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While it is the large businesses who make the news when there’s financial fraud, the greatest amount of wire fraud happens to small business owners. Recent research indicates that 78% of small businesses suffer some kind of wire fraud each year. In fact, all businesses lose at least 5% of their earnings to fraud every…
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