Tax Strategies for Breweries: Leasing vs. Buying Kegs, Choice of Entity, R&D Credit, Excise and Other Taxes
Recording of a 110-minute CPE webinar with Q&A
This course will address general business decisions, the taxes paid that are specific to beverage alcohol industries, and the incentives available for brewery owners and advisers. Our brewery experts will focus on steps to minimize taxes and maximize profits for these businesses.
Outline
- Breweries: an introduction to the industry
- General business strategies
- Tax saving opportunities
- Cost segregation
- Research and development credits
- Pandemic relief
- State, local, and other taxes
- Best practices
Benefits
The panel will review these and other critical issues:
- Strategizing new lines, equipment purchases, and acquiring kegs
- How breweries are ideally suited for the research and development credit
- Handling taxes applicable to the beer industry, including alcohol excise and sales and use taxes
- Structuring considerations for craft brewers
- Pandemic relief available to beer makers
- New federal rules for the treatment of R&D expenses, and the strategies and credits breweries can use to reduce taxes
Faculty
Josh Harbin, CPA
Senior Manager
Moss Adams
Mr. Harbin has worked in public accounting since 2012. He specializes in tax credits and incentives, including federal... | Read More
Mr. Harbin has worked in public accounting since 2012. He specializes in tax credits and incentives, including federal and state research and development (R&D) tax credits, research and experimental expenditures (IRC Sec. 174), and employee retention tax credits.
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Lawrence Knutson, CPA
Partner
Plante & Moran
As a leader with the firm’s tax solutions group, Mr. Knutson assists both closely held and public clients with... | Read More
As a leader with the firm’s tax solutions group, Mr. Knutson assists both closely held and public clients with specialty tax services. His extensive experience includes engineering-based cost segregation studies, research and development tax credits, 382 studies, transaction cost studies, stock basis studies, and 280G analyses. Many of Mr. Knutson's clients are in the real estate, manufacturing, and technology industries. He often speaks at industry conferences on tax-related issues. Recently, Mr. Knutson spoke at the Software Colorado conference on tax reform and at the Financial Executives International conference on the top tax-planning ideas.
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Liddy Steele, JD, LLM
Senior Manager
Moss Adams LLP
Ms. Steele has significant experience helping companies identify, increase, document, and support claims related to... | Read More
Ms. Steele has significant experience helping companies identify, increase, document, and support claims related to R&D credits. She works with clients from a wide range of industries, including manufacturing, agribusiness, food and beverage, technology, aerospace, and forest products. She primarily works with S corporations and partnerships in the Pacific Northwest region, and understands the unique opportunities and challenges facing these companies.
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Derek White
Principal
Withum Smith+Brown
Mr. White has over 16 years of experience specializing in ASC 740 and associated income tax footnote disclosures for... | Read More
Mr. White has over 16 years of experience specializing in ASC 740 and associated income tax footnote disclosures for financial statement audits, federal and state tax compliance, and consulting services to mid-market companies, private and public companies, and startups in a variety of industries including Consumer and Industrial Products (including manufacturing and restaurants), Life Science, Technology, and Real Estate. He also has experience in Merger and Acquisitions and individual tax consulting for high net worth individuals and the owners of many clients he works with. He also has significant, non-tax experience in assisting private companies setting up business plans and financial/accounting goals within organizations. Mr. White works closely with many of his small business clients' owners and investors.
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