Introducing Fire Insurance Protection – Smoke Index (FIP-SI) in 2025
Introducing Fire Insurance Protection – Smoke Index (FIP-SI) in 2025 which will be a game-changer for California Grape Growers. The USDA Risk Management Agency (RMA) has announced the introduction of a new crop insurance program. This program is tailored specifically for addressing smoke damage. The Fire Insurance Protection – Smoke Index (FIP-SI), will debut in […]
A Conversation About Today’s Wine Industry Challenges
Listen to a casual and insightful discussion on the Small Fortune Podcast. Carol Collison and Tim Allen of Allen Wine Group have a conversation about today’s wine industry challenges. Everyone’s so busy these days! So host Carol Collison invited Tim from Allen Wine Group to join her for a wide ranging conversation on topics such […]
New Beneficial Ownership Information Report Requirement
There is a new and important reporting requirement mandated by the Financial Crime Enforcement Network (FinCEN) of the US Department of the Treasury, under the Corporate Transparency Act called the Beneficial Ownership Information report. Many small business are now required to file this and we want you to be informed. What is the Beneficial Ownership Information Report? […]
Winery Collateral Audits | A Service of Allen Wine Group
Allen Wine Group offers winery collateral audits for our banking partners. This service provides a comprehensive evaluation and measurement of the asset collateral and risk for winery loans, empowering our partners to make informed decisions and manage their risks effectively. Our years of experience in the wine industry prove invaluable in understanding the complexities associated […]
Understanding the Research & Development Tax Credit
The Research and Development (R&D) tax credit (26 U.S.C. § 41), first established in 1981, is an outstanding opportunity that qualified U.S. businesses of all types can take advantage of to substantially mitigate their tax liabilities. This government-sponsored tax credit is available at the federal and state level (in some states). The R&D Tax Credit […]
New Legislation Allows for Third Tasting Room in CA
In September, California Governor Gavin Newsom signed SB19, AB239 and AB1267 into law. This new legislation relaxes some restrictions on wineries and expands tasting room privileges. Set to take effect on January 1, 2022, and create the following changes: Certainly, the changes come as a means to help California wineries with post-pandemic recovery. Here is […]
“Behind every glass is 12 hours of paperwork”: Wineries face complex bureaucracy
Article originally seen on the Nappa Valley Register – Sam Jones It takes a lot of sweat and know-how to produce a bottle of wine. It also takes a breathtaking amount of paperwork. Wineries are required to keep detailed records and file endless forms in order to comply with local, state, and federal regulations, pay […]
Equipment, Barrel, and Vineyard Lease Accounting for Wineries
Accounting Standard Codification (ASC) 842 is the new lease accounting standard that is updating the accounting practices within the winery industry as to how financial statements are prepared and presented in regards to all leases including equipment and barrel leases. This blog will serve as an overview of the new ASC 842 accounting standard and […]
The 3 Internal Controls You Need to Overcome Challenges for Your Small to Midsize Business
The internal controls for your winery are a set of accounting SOPs that you need to incorporate in order to protect your assets, maintain reliability, and ensure you are legal and tax compliant. Internal controls will also improve your internal operations efficiency and enable you to overcome accounting challenges in your business. The 3 essential […]
Insurance Changes for the California Wine Industry
The wildfires of late 2019 and 2020 saw some of the most devastating damage to the California wine industry since early settlers started growing their grapes here in the early 1830s. The recent wildfires did more than reshape the topography of California’s wine country. They also restructured how wineries here will be insured amidst a […]
