Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, "Tax Breaks: The Next Great Wine Pairing" by Guest Contributor Tetyana Guguchkina, Manager - Research & Development Tax Credit Services, KBKG.
"While California has dominated the wine industry for decades, new regions across the United States are making waves as they delight wine aficionados here and abroad. According to the American Association of Wine Economists, the U.S. is home to over 12,000 wineries, amounting to an incredible $20 billion industry.1 With new tasting rooms popping up and creating competition, winemakers are experimenting with new ways to push the envelope and make their mark. And while winemakers or vintners know about wine pairing and barrel aging, they may be unaware of a tax credit that is ripe for the picking.
R&D Tax Credits for the Wine Industry
The R&D Tax Credit is one of the most valuable, yet overlooked, credits leveraged by savvy businesses each year. The research credit is a federal benefit that is also available in many states. Winemakers can earn up to..."
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KROST Quarterly is a digital publication that highlights some of the hot topics in the accounting and finance industry. Volume 2, Issue 2 covers hospitality trends and news including California sales tax compliance, employee theft, data breaches, Wage Order 7, trends in restaurant technology, and more.