Tax Consultation Services from Brotemarkle, Davis & Co:
Four Hours of Pain Relief from Sr. Tax Specialist, Randy Gnagy

You know that numbers matter. But that doesn't necessarily mean that you enjoy working with them, or are good at them. And of course, you'd prefer to see all black ones, not those annoying red ones...

The winner of this auction lot in a prior year says:  
“Randy was fabulous.  He pointed out a number of opportunities for our family winery to both simplify our accounting and significantly reduce our taxes.
We couldn't be happier.”

Just in time to learn about new tax laws going into effect, the winner of this auction lot will receive four hours of tax consultation from Randy Gnagy, nicknamed The Pain Reliever by his teammates at Brotemarkle. Randy just happens to like numbers. A lot. Especially the ones he can improve, the ones that might help you sleep better at night. The numbers that will help you make better decisions and make you and your company a little more successful. He has been a CPA for over 40 years and has worked with BDCo since 2000. He is the firm's senior tax specialist, and has a great deal of experience in interstate taxation, tax preparation for nonprofits and small to medium winery taxation.

Randy is also a highly valued board member of the UpValley Family Centers, insuring our financial success and fiscal integrity, and our senior tax adviser for the VITA tax preparation program.

This lot is designed for an owner of a small to medium sized winery. It will consist of a planning session involving the adoption of a variety of accounting methods designed to reduce the tax liability of the owner. The following are some of the areas that you may want to discuss:

• Suggested chart of accounts for a winery general ledger


• Overall cash basis of accounting – new opportunities available under the 2017 tax reform act


• For a company that is required to use the overall accrual basis of accounting – cash basis of accounting for vineyards


• For those wineries who purchase most of their grapes from one source, an alternate arrangement to lease and farm the vineyard


• For wineries required to use the full absorption method of accounting for inventories, the requirements of Internal Revenue Code section 263A


• The benefits of a cost segregation study for new or existing real estate


• Options available to use section 179 and bonus depreciation methods


• Election to use the de minimis safe harbor for property acquisitions


• Election to use the safe harbor for improvements made to buildings


• Research tax credit


• LIFO inventory method


• Amortization of AVA intangible costs

Accounting isn’t only about tax returns. It’s about improving your business. By focusing on the wine and hospitality industries since 1984, Randy has developed the experience and knowledge to help you avoid costly mistakes and grow your bottom line.

See?  Pain Relief has never been so easy!