Vineyards and Wineries Tax, Audit, and Consulting Services

Tracking your performance using these numbers is vital to maintaining and expanding a profitable business. The challenge is in the details, and the arduous, often-tedious job of allocating costs, calculating COGS, managing key indicator accounts, and more. Wineries are unique operations, and their accounting and bookkeeping must be unique to match.

Melissa Ryan, CPA

• No more paper files, no more writing checks, no more licking envelopes.
• We compare your winery’s performance against industry peers, providing insights into key metrics such as gross margin, production efficiency, and distribution effectiveness.
• At EFPR, we have been able to transfer our experience with wineries and vineyards to this rapidly expanding niche.
• Managing them strategically gives you a crystal clear picture of your winery’s financial health.
• We work with family-owned wineries from startup to about 10,000 cases.
• With varying regulations in every market, reduce exposure and maximize your opportunities to save.

Getting bogged down or lost trying to handle it all in-house is a recipe for subpar growth, or worse. As a highly experienced business consultant and CPA firm, Campbell CPA LLC is committed to guiding wineries and vineyards towards success. We provide the practical advice your winery needs to navigate financial challenges as a result of poor weather conditions, seasonal fluctuations, and changes in the marketplace. Our performance improvement strategies will reduce expenses, stabilize cash flow, and minimize risk to increase profits so your business can grow. Woodinville Winery Services is committed to providing the highest quality service to our winery partners. Our mission is to https://www.bookstime.com/ help wineries of all sizes succeed by providing them with the tools and support needed to operate in today’s competitive wine market.

Experience

To make matters simpler, winery accounting winery costs are broken down into specific cost categories according to steps in the winemaking process. At each stage of production, there are costs for materials, labor, and overhead. By tracking your investment and usage in these aspects of production, you form an accurate idea of the cost for the wines you sell. Brent is a seasoned professional with a wealth of experience in the wine industry, having worked extensively with both small and large wine companies. Presently, he collaborates with closely held private wineries, providing fractional controller and CFO services that cater to their unique needs. Leveraging our proprietary winery data and industry reports, we offer industry benchmarking services.

Winery Accounting Services

Businesses resistant to innovation will find themselves left behind, especially as wineries seek to establish presences in new regions or markets. Cash is key to grow and expand your business as the industry evolves, especially as businesses look to grow their e-commerce, retail sales, and direct-to-consumer presence. Knowing your cash flow can help you proactively plan for the next phase of your business and free you from worries that you won’t have the resources to execute your vision.

Vineyard and winery leaders ready to serve you

• ✔️ Sales Channel Profitability Breakdown – Are you making more money selling through your tasting room, your wine club, or distributors?
• If this isn’t tracked properly, wineries might price their wine too low (and lose money) or overprice it (and struggle with sales).
• Brent’s professional ethos revolves around building strong client relationships and helping them navigate the dynamic and ever-evolving wine industry.
• At each stage of production, there are costs for materials, labor, and overhead.
• Beyond year-end tax preparation services, our experience working with wineries means we employ a variety of tax planning strategies designed to reduce taxes for businesses in your industry.
• But having a deep understanding of historical trends is key when looking to the future.

This year will be even more beneficial for business owners selling wine. In 2018, the Craft Beverage Modernization and Tax Reform Act was passed, giving wineries in the United States much-needed tax breaks. The Tax Cuts and Jobs Act of 2017 also introduced several tax benefits that will impact the wine industry. That means there is money to be saved since the reform act will reduce excise tax payments and you may be able to accelerate your depreciation deductions. But between your time out with your vines, crushing grapes, or talking with customers in the tasting room about your new Cabernet Sauvignon or Pinot Noir, there can be little time for reading about tax laws. We specialize in serving wineries, allowing us to bring a wealth of industry-specific knowledge and expertise to the table.

But it also gives you the clues you need to move forward and build a successful business. We offer wineries high level industry advice and assistance you will need. We begin by establishing a strong foundation with clean books, efficient systems, and clear communication. We ensure you understand how to work effectively with us, access your information easily, and adjusting entries maximize the value of your reports.