December Newsletter 2022
4 min read | Written by Jeanette Tan
Hello,
We hope you are enjoying the holidays with your family and loved ones. We will keep this brief so that you can return to your mulled wine and toys. Cheers!
Tax Changes
The 100% deduction for All Meals during COVID is ending on 12/31/22. This is one of those rules that should be straightforward but is often interpreted in different ways. So call your tax preparer and review which meals are subject to the 50% deduction and which ones can still take a 100% deduction. You must record these in 2 different accounts. Make sure your account names clearly identify which is which.
Happy 2023! Happy 1099!
Live Webinar on January 5th 2023
Your payroll system will be mailing out the W2s in early January. Review your employee’s mailing address TODAY to confirm that they are correct.
You will need to send out 1099s to your vendors by January 31, 2023. Review your files and start to gather the W9 with the Tax ID number.
If you are frustrated with preparing and filing the 1099s, we have a mini course to help you. This year we will be giving it in a live webinar on Thursday, January 5th at 10 am Pacific. If you cannot make it live, the recording will be ready within 24 hours.
* This is free for Silver Club members during January. Go to your My Courses page for access.
Sales Tax Mini Course
The 2022 Quarter 4 sales tax return for California businesses is due January 31st. Many folks have found that our recommended procedure to file the sales tax return has saved them time and frustration. To learn more (and find out whether you folks who are not in California can use our method) click here.
When you purchase access to the course, you will have lifetime access so you can revisit the course each quarter.
Silver Club News
Join us for our first Office Hours of 2023 in January, Tues, Jan 31st at 10 am Pacific. We answer your questions about QuickBooks and managing a profitable winery in a live group setting.
If you cannot attend, please hit reply and email us your questions.
The recording will be in the Learning Library soon after the session.
Something Fun
The latest book by Mike Veseth, aka The Wine Economist, earned an award for Outstanding Wine & Sustainability book by Gourmand International. “Wine Wars II: The Global Battle for the Soul of Wine is a followup to his book “Wine Wars”.
Owner and winemaker Erik Miller of Kokomo Winery was a guest on the Legends Behind the Craft podcast. Hear how he stumbled into the wine industry and about his new brand Breaking Bread. Listen here
