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Extended filing deadlines for certain information returns
IRS notice provides new filing deadlines for health care related information returns.
Tax Update
The President has signed into law the "Protecting Americans from Tax Hikes" (PATH) Act of 2015.
New Reporting Requirements under the Affordable Care Act apply to 2016 filings
Certain employers who provided health care coverage to employees in 2015 will be subject to new reporting requirements when they file information returns with the Internal Revenue Service (IRS) beginning in February of 2016.
Increased asset deductions in the current year
A new IRS notice increases the safe harbor deduction for asset purchases in 2015 and forward from $500 to $2500.It's time to review your asset capitalization policy.
Think you're too small for fraud?
Small businesses represent 38% of all fraud cases. Now is the time to reduce your organization's exposure to fraud by applying these tips.
New California Sick Leave Rules apply July 1, 2015
New law requires California employers to provide paid sick leave benefits to their employees beginning July 1, 2015.
Learning Season
There are so many places to gain knowledge around the Napa Valley.
Employer Reimbursement of Individual Health Insurance Premiums
The Affordable Care Act changes the treatment of reimbursement for employee paid health insurance premiums.
Tax Increase Prevention Act of 2014
New bill extends many of the expiring provisions of the tax code for one year.
Press Release: Local CPA firm names three new partners
All three CPAs, Sam Martin, Chris Meineke, and Patricia Walker have unique areas of focus and bring specialized skill to the Napa Valley CPA firm.
As the dust settles
Tips for dealing with the earthquake cleanup
Sales tax exemption for certain wineries
Wineries engaged in certain manufacturing activities may qualify for a reduction of more than 4% in sales tax paid on equipment purchases.
Employer Reporting Required for Health Care Coverage
Beginning October 1, 2013, employers are required to share information with employees about their options for health care coverage.
What are you measuring?
A new metric was shared by Citi Research vice president Vivien Azer at the Wine Industry Financial Symposium on Tuesday.
Affordable Care Act Resources
We've compiled links to some of the best resources for dealing with Health Insurance changes under the Affordable Care Act.
Make a note of that
When you are accounting for winery transactions, what you don't write can hurt you (or at least cost you).
How to tell if an expenditure is a business expense or an asset purchase (Part 1)
The treatment of asset purchases is not always clear. In part 1 of 2, we hope to shed some light on the topic.
Rolling the dice: What are the odds you will be audited by the IRS?
A recent report shows IRS audit activity for 2012.
Commission Contracts
Employee commission agreements must be in writing as of January 1, 2013.
Treatment of vineyard costs
The Section 179 deduction is upheld for certain vineyard costs.
Gift Tax planning by December 31, 2012
Time is running out for individuals who want to make a tax free gift.
Impact of Health Care Reform Act on Employers
2013 and forward
1. Notice to employees
Employers are required to notify employees of their options for insurance through the Health Insurance Marketplace. See full article here.
Note: The model notices must be revised by...
Supreme Court rules on health care mandate
Many US citizens are unclear what the recent Supreme Court ruling on health care will mean to them.
Here is the issue as defined by the Supreme Court :
"In 2010, Congress enacted the Patient Protection and Affordable Care Act in order to...
HIghways and student loans
A new bill is awaiting signature by President Obama.
New 1099 Disclosure Requirements
Make sure you have met your 1099 filing requirements for 2011.
Farm worker payroll changes
California farm worker employers have new reporting requirements starting January 1, 2012.
Tools for recordkeeping
Many of us have just filed our individual income tax returns for 2010 (October 17th was the extended filing date). From business expenses to employee mileage to capital gains on stock sales, the painful process can take a huge amount of...
How to share QuickBooks Files
There are a number of options for sharing your yearend QuickBooks files with us. We have created the comparison table below to assist you in choosing your preferred method.
Please use our secure Sharefile portal to send us...
New requirements for California individual tax payments.
California will begin assessing penalties on certain individual taxpayers who fail to make tax deposits electronically.
The Tax Relief/Job Creation Act of 2010
2010 tax law changes impact individuals and businesses.
Don't get bamboozled this holiday season - review your internal controls
Good internal policies and procedures can help businesses reduce their exposure to fraud.
Potential Vineyard Tax Savings
The Internal Revenue Service (IRS) recently issued a memorandum recognizing the allocation of land costs to an American Viticultural Area (AVA). If such land was acquired after August 10, 1993, the part of the cost attributable to an AVA is an intangible asset which can be amortized over fifteen years.
Winery software
We created a tool to help you review your winery software expectations and offer a brief survey for users of winery software.
Small Business Health Insurance Tax Credit
Small Business employers who pay a portion of the premiums for employee health care may qualify for a credit.
St. Helena ACCOUNTANTS ON THE MOVE
BDCO today announced plans to relocate to the space formerly occupied by the Napa Valley Vintners Association at 899 Adams Street.
Think you're only keeping one set of books?
We're willing to bet that you have more than one and that's a good thing.
New filing rules take effect for Non-Profits
The new Form 990 requires disclosure of additional financial and operating details, as well as policies and procedures related to governance and compensation. It includes a number of new schedules and tables for this purpose.
Exempt Organization Action Plan
We have compiled a list of steps for Exempt Organizations subject to their first filing of the revised IRS Form 990, which is open to public inspection.
Keeping Score
Why are scores so important? Let's compare wine scoring to financial scoring.
The Good, The Bad, and the Uglies : Lessons in customer service
Lessons from a recent customer service experience.
Winners and Losers in the Health Care Reform Bill
A quick summary of some provisions in the Health Care bill.
Taking Credit- the California New Jobs Credit for Small Employers
California has enacted a New Jobs Credit provision for certain Small Employers' tax years beginning after January 2009.
Worksheet : California Small Employer New Jobs Credit
Sign in to access a worksheet to see if you qualify for the California New Jobs Credit for Small Employers.
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If you think taxes are complicated, read some of these hunting rules.
Two special wild turkey hunting opportunities are being offered this spring at Lake Sonoma.
What's Your Plan?
Now is the time to pull out your business plan and make sure you are still on track for the long haul.
2010 Jump Start Class
Jump Start your Organization
The class offers right-sized training for busy executives who want to start the new year off right. Delivered in a series of 4, 2-hour classes, this course will provide executives with a foundation of tools and strategies that will help elimiinate the guesswork.
Organization for North Bay Certified Fraud Examiners
Visit this website to learn more about team member Sam Martin's involvement with an organization devoted to reducing and preventing fraud in North Bay organizations. http://www.nbacfe.com/
2009 Individual tax planning
A list of tax saving ideas for individuals to consider before yearend.
2009 Business tax planning
Here are a few yearend items to consider for your business.
S Corp owner-employee planning
2009 Yearend planning tips for certain S Corporation owners
Alert: Avoid fake IRS scams
Scam artists are sending out e-mails in the name of the IRS. Don't be fooled.
There's Nothing "Fair" About New Valuation Rules For GAAP Financial Statements
New rules require financial statements to reflect write downs for certain assets when their fair market value is lower than their cost.
The State of California Wants You to Pay Use Tax
With California's budget tighter than ever, the state is looking for new ways to collect all taxes due. A new regulation helps the state collect Use Tax on items purchased and used in the state. Companies who have not been in the habit of filing sales tax returns could now find themselves subject to a use tax return filing requirement under these rules.
August 2009 Newsletter
Sure, you're going to be harvesting those perfectly ripened grapes from the vineyard.
But what else will you be harvesting this season?
Special Event on April 20th : An evening with Dean Zerbe
You are cordially invited to hear beltway veteran and Forbes tax policy expert Dean Zerbe as he shares the stories behind the tax law changes that could impact you this year and beyond. He'll offer insights about the players involved and the changes that he foresees in areas of interest to businesses and individuals in the wine industry.
Economic Stimulus of 2009
Do you want to know how the stimulus bill will impact you? Then read this brief summary of the key provisions.
What is Strategic Performance Management?
Strategic Performance Management is a comprehensive approach to helping businesses achieve their goals. It begins with a company's strategic plan and goes from there all the way through to the employees who support that plan.
Reduce Your Risk of Fraud with Good System Security
Fraud can occur in any business when all of the following elements exist:
A person has an incentive (pressure) to commit fraud, there is an opportunity for the person to commit fraud , and the person can rationalize the fraudulent behavior (attitude)
A well-designed computer security system is one way you can reduce the number of opportunities for fraud to occur in your business.
the number of opportunities for fraud to occur in your business.
Valuing Your Business
Customer lists are one of the most important assets of any business. The potential for ongoing revenues from your existing customers is one factor that influences the value of your business at the time of sale or merger. But more importantly, your customer list is the key to your ongoing business success.
So how do you value that customer list? And what are you doing to protect that valuable asset?
Key Performance Indicators
Key performance indicators (KPI) measure what a business must do well in order to succeed. Many areas affect how to operate a business profitably. However, each of these areas usually has one factor that is truly critical to its...
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Five Questions to Consider Before You Start Your Annual Planning
Where do you want to go? What are you personally looking to get out of this journey?Are you looking to build a legacy? Change the world? Take care of your children? Retire in the next five years? Sell the business? Or maybe you want to keep...
Roadmap to Reducing Stress
POSITIONING YOUR BUSINESS
Before you begin working on your business, you must first step outside it to gain a better perspective. When you see your business from the outside, you will be able to:
Identify what keeps you up at...
Lessons from the Automobile Industry
What can we learn from the automobile industry? Why is GM facing bankruptcy when other automobile makers, notably companies like Toyota, are surviving?
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How Many Accountants Does it Take to Sing the Twelve Days of Christmas?
How many accountants does it take to sing the Twelve Days of Christmas?
That's what the team at Brotemarkle, Davis and Company set out to determine over the Christmas holidays.
NVV class materials
Materials from our class
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2013 Year end Planning
Now is the time to consider these tax planning strategies for 2013.
Tax provisions that end in 2013
Without Congressional action, the following provisions are scheduled to disappear after 2013:
Individuals
option to deduct state and local sales and use taxes instead of state and local income taxes
above-the-line deduction for...
1099 Forms 2013
Make sure you have met your 1099 filing requirements for 2013.
Government shutdown and the IRS
How does the government shutdown impacting dealings with the IRS?
Tips for 2014 yearend giving
Make the most of charitable deductions in 2014.
New 1099 K reporting requirements
New form 1099-K will be used to match payments received from third party payment processors.
Tax Planning for 2012
Consider making asset purchases before the end of this year.
Life in the valley of the fiscal cliff
Now that Congress has acted, what can we expect for 2013?
Fall newsletter archive
Here's a copy of our Fall newsletter
Craig Underhill to teach at UC Davis Extension
Craig Underhill returns for a repeat engagement as an instructor at the UC Davis Extension Wine Marketing short course.
Proposed Regulations may Benefit Innovators
New proposed regulations expand the definition of "Research and Experimentation" for wineries.
Seminar for Vineyard Owners
We've teamed up with the Napa Valley Grapegrowers and Tony Correia of California Wineland to offer a seminar on March 8th.
A new IRS ruling has made AVA designations an amortizable portion of vineyard land costs. While the deductibility of...
Items of Note for 2010 Tax Planning Purposes
Gift Taxes
You can save gift and estate taxes by making gifts sheltered by the annual gift tax exclusion before the end of the year. You can give $13,000 in 2010 to an unlimited number of individuals.
The gift tax rate for 2010 is...
Past Articles
California Individual Estimated Payments - Safe Harbor rules
In response to continued budget pressure, California has made a number of changes related to estimated tax payments.
When is an independent contractor an employee?
The IRS and the Department of Labor have joined forces to "curb employee misclassification". Are you covered?
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