Teri Molini Appointed Compliance Manager at Allen Wine Group
SANTA ROSA, CA – October 11, 2022 – Allen Wine Group is pleased to announce the appointment of Teri Molini as Compliance Manager to lead the Allen Wine Compliance division. The addition of Teri Molini allows Allen Wine Group to provide a one-stop compliance solution for businesses in the wine industry. Services offered by Allen […]
CalSavers Enrollment Deadline for Companies in California is June 30
In 2016, California enacted a state-sponsored retirement savings program called CalSavers to benefit private sector employees without employer-provided retirement plans. This year, the law requires that any business with five or more employees either provides a retirement plan or enrolls the business in CalSavers. We will explain what your needs to know to make sure […]
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. They are set to go into effect on January 1, 2022, and create the following changes: The changes come as a means to help California wineries with post-pandemic recovery. […]
Equipment and Office Leases for Construction Companies
The accounting practices for the construction industry are changing due to the Accounting Standard Codification (ASC) 842 update. This update will affect how you prepare financial statements for your construction company, as well as how you record financial transactions for leases in your accounting system. This blog will serve as an introduction and guide to […]
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 […]
Allen Group LLP Announces Three New Partner Appointments
Allen Group LLP (https://allenwine.com) is pleased to announce that it has appointed Shannon Pakes CPA (inactive), Scott Stone CPA and Hiromi Young CPA / CCIFP as Partners at the firm. Founded by Timothy Allen CPA, Allen Group is a client advisory service CPA firm which provides a complete range of accounting, finance and advisory services […]
Megan Nelms, CPA Promoted to Senior Manager at Allen Group LLP
SANTA ROSA, CA – July 21, 2021 – Allen Group LLP (allenwine.com) is pleased to announce the promotion of Megan Nelms, CPA to Senior Manager at the firm. Founded by Timothy Allen CPA, Allen Group is a leading client advisory service firm which provides a complete range of accounting, finance and advisory services exclusively to […]
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 […]
Employee Retention Credits for the Wine Industry
Fiscal year 2020 was tough on just about all business, and the future of 2021 is very much uncertain. Few industries have been hit harder than the wine industry. When it comes to bottled wine sales, much of a winery’s revenue comes from bulk sales to restaurants, most of which have been closed entirely, or […]
