Author name: Chris Farmand

I’m sure you have heard that tax reform is upon us. Exactly what, when, or how is yet to be determined, but I am certain it is happening. I will dedicate the next two Tax Tips to explain how the changes will affect your business and personal taxes. This week I will share my thoughts […]

Hey, here we are 7 weeks into our Tax Tip Tuesday series, have they been informative? Let me know. While all this info is super important for wealth creation, I can’t wait to get back into the strategy posts. I have been traveling, speaking, and helping breweries push through the plateau. Yes, I said plateau;

Happy Halloween Everyone! My kids are dressing up as 2 Minions and a Poppy (Trolls) They have me going as Gru…. As promised, this week is going to be about tax credits and deductions. Every brewery in the land should be trying to take advantage of the following: FICA Tip Credit Domestic Production Activity Deduction

Hey, If you are just joining us, each week I am releasing a Tax Tip Tuesday through December 1, 2017.   This week I want to talk about audits, any agency audits. (IRS, State, TTB, ABC)   Tense? I know.   But it doesn’t have to be.   Getting audited a real fear for some

Hey, this week’s tax tip is the conclusion to a 3 part series. If you are just joining us, I highly recommend you start with Part 1 and Part 2, before reading this conclusion. Last week’s recap: Brewery owner was given advice to spend, spend, spend because his CPA projected $40,000 in profits at year

This weeks tax tip is a continuation from last week. If you missed it, you can read it here. So we need a better strategy, one that provides the cash to pay taxes, avoids spending, and allows us to stockpile cash for use in future tax saving strategies. It’s that simple, and those who follow

Most tax planning advice given to small business owners is based on spending money. “Buy new equipment before year-end.” “Prepay next year’s insurance policy.” “Buy the heavy duty truck for your new ‘business vehicle’ so we can write it all off in year one.” Is this the best we can do? This annual ritual is

As you may know, I prefer to be writing and talking about brewery growth strategies. What you may or may not know that I have spent 15 years as a tax CPA. Not bragging; but bragging…..We know a lot about Federal and State income tax AND we have prepared just over 50 brewery tax returns over

Welcome to the quarterly edition of Savory Suds and Spent Grains from Small Batch Standard. I thought this would be a fun way to highlight some “Wins” and expose some stink of the craft brewing industry. Savory Suds go to Nancy P, Executive Director of GA brewers guild. This southern peach and their board used

I recently wrote a post about Gross Profit vs Gross Margin, it was nice.  Piggybacking off that topic I want to explain the differences between Markup vs Margin.  More specifically, what it looks like at different points in the supply chain.  In the margin vs markup game, margin wins….always.  Distributors and Retailers work off margin.