Questions Brewery Owners Should Ask Their CPAs: Part II

In the first installment of this series, I covered five questions brewery owners should ask their CPAs in an effort to improve their business operations and find opportunities for savings. Below, I discuss the final four questions:

How can I expense the cost of the building housing my brewery faster than I am using it?You have a couple of different options available to you, both of which your CPA can discuss. First, you could purchase the building and perform a cost segregation study, which may allow you to shorten the depreciation time on the asset from the 39 years the IRS typically assigns to non-residential property.

You could also pursue a fixed asset review, which allows you to identify where you have the opportunity to reclassify assets for swifter depreciation.

How can I compare my financial numbers to other brewpubs and breweries?It can be difficult to make an apples-to-apples comparison between yourself and a competitor, as a number of different metrics can be used to…