Craft brewing continues to grow and today’s brewers face many unique and difficult challenges: inventory controls, research and development, overhead allocation and developing pricing strategies.
The industry requires the owners to have good working relationships with financing sources, to be innovative and receptive to new brewing techniques and to have a thorough grasp of cost accounting principles.
The industry is highly regulated and requires owners to maintain detailed accountings and records. Periodic and annual filings are required by federal and state law. In order to be successful, today’s brewery owner must be capable of wearing many hats.
Specialized Brewery Services
- Brewery report of operations
- Filings with Tobacco Tax and Trade Bureau
- Federal excise tax reporting
- Development of pricing structures
- Evaluation of production methods
- Evaluation of production costs—fixed vs. variable
- Inventory management and controls
- Recommendations to improve working capital to help increase financing capacities
- Evaluation, development and installation of accounting systems
- Preparation of budgets and projections
- Preparation of financial statements according to present industry standards
- Coordination of business and personal tax planning
- Income and cost recognition methods
- Multistate issues—nexus, sales and use tax, franchise, income and other taxes
- Structuring of business entities
- Specialized deduction and credit opportunities:
- Research and development credits
- Business continuation/succession planning
- Analysis of potential acquisitions and mergers