Craft Spirits and the Local Economy

Craft Spirits and the Local Economy

We all know that the world is a much smaller place than it was a generation ago.

How Your Distillery Can Simplify Year End Paperwork

How Your Distillery Can Simplify Year End Paperwork

Wouldn't it be nice if all we had to do to complete our year-end reports was to press one single button, and POOF…it would all be magically done? Yes, it would. And maybe when some genius finally creates an accounting-bot (a Hooch-Bot) like something from Star Wars that will do everything for you. Until we figure out a way to make a real-life Hooch-Bot, you have Hoochware. It's close to a Hooch-bot already. It just lives in your browser instead of beeping around the office.

2017 Distilling in Review

2017 Distilling in Review

What will historians say about 2017? Whatever it is, chances are they will need a drink first. Things have gotten so crazy in the world and national politics that when the Pentagon admits that UFO's are real, nobody notices. And with 2018 starting off with kids eating Tide Pods, chances are future historians are going to die from alcohol poisoning before they finish out talking about this decade. It will be up to us to make sure those drinks get made, so let's take a look at some of the big things that hit the craft distillery industry this year good, bad, and in between.

More than Proof Gallons

More than Proof Gallons

It’s only been a short while since President Trump signed the Tax Cuts and Jobs Act into law, and if you are like me, the reality of these much needed and wanted changes is still sinking in. For distillery owners, this is as close as it gets to winning the Publisher’s Clearing House Sweepstakes without Ed McMahon rising from the grave and knocking on the front door.

Ways to Capitalize on the New Tax Laws

Ways to Capitalize on the New Tax Laws

As of this writing, the Tax Cuts and Jobs Act hasn’t officially received the final vote, and signed into law. It looks more than likely that it will come to be, but as strange a political season that the last two years were, anything can happen. I don’t want to risk jinxing it.

The Tax Cuts and Jobs Act--Keep Fighting

The Tax Cuts and Jobs Act--Keep Fighting

On December 2nd, 2017, the US Senate passed The Tax Cuts and Jobs Act. Part of this bill included the provisions that would reform the way distilleries, breweries, and wineries are taxed. This puts us another step closer to the needed tax reform that can help smaller distilleries become competitive. All it needs to do now is pass the house review, and it lands on the President's desk where it will be signed into law. That doesn't mean we are done though.

One Step Closer to Tax Reform

One Step Closer to Tax Reform

Most of the news coming out of Washington is about how our dysfunctional legislators can't get along with each other. As a result, deals on essential matters are going down in flames due to infighting, the usual tweet storms, and senseless drama. So, it's nice to hear it when something good is finally being accomplished. This goes double when it’s about something near and dear to our hearts, like distilled spirits. The Craft Beverage Modernization and Tax Reform Act, Senate bill S. 236 and HR 747 are one step closer to becoming law.

Pennsylvania's Big Money Mess

Pennsylvania's Big Money Mess

It really says something about a state when their liquor laws are so messed up and broken that there is an entire Wikipedia page devoted to the mess that it is. Pennsylvania is that state. The liquor laws there is a culmination of general government mismanagement of their monopoly, regulation hell, moral busybodies forcing their views on others, the abuse of the three-tier system, and a string of other bad decisions made over the course of generations. Even selling beer there is a bureaucratic nightmare of red tape, which comes back to make the lives of consumers needlessly complicated.

New Tax Reform Could Help Small Craft Distilleries

New Tax Reform Could Help Small Craft Distilleries

I say it would be hard to find anyone in the liquor business that is 100% behind what the government does to us. And that feeling doesn’t have anything to do with which party is in power either.

Accounting for Alternating Proprietorships & Contract Distilling

Accounting for Alternating Proprietorships & Contract Distilling

One increasingly common practice in the liquor industry is contract distilling or having alternating proprietorships. With the maze of laws and regulations that the states and federal bodies force distilleries to go through, it should come as no surprise that bringing in someone else adds to the complication. The TTB red tape is enough of a headache as it is. And if generic accounting software like QuickBooks doesn't handle the standard side of a distillery's books all that well, it will turn contract distilling and alternating proprietorships into an absolute horror show.

Tax Tips for Distilleries

Tax Tips for Distilleries

With April 15th fast approaching, let’s all hope that everyone has already gotten started or already filed their taxes. Now, let’s swallow a dose of reality and remember that there are more than a few looking at a pile of paperwork with tears streaming down their cheeks screaming, “Oh God! What do I do now?” It’s a stressful time, even if you don’t owe anything.

Want to Start a Craft Distillery? Consider This

Want to Start a Craft Distillery? Consider This

The desire to start one’s own distillery always seems to start with a moment of clarity – a drink from some generic, big brand whisky followed by the realization, “I could make better whisky than this.” Even if you’ve been a fan of good craft whiskey for years, you have probably been sipping your favorite brand and imaging what magic in a bottle you could make. After all, the real mark of greatness is that it inspires more greatness. What does it take to start your own distillery? A lot of work for starters, but there are some other things to consider before you begin building your rackhouse.

The Taxman Loves Your Liquor

The Taxman Loves Your Liquor

We all know that old saying, “The only sure things in life are death and taxes.” It’s also ironic how much liquor is taxed, considering taxes are one of the big reasons we have the occasional drink. We all understand that taxes are a necessary evil…part of the time. We need roads, a strong military, and good schools. What our tax dollars all too often get us are shrimp running on treadmills and schools that produce high school graduates who can’t read the diploma they’re given.