BPM’s Andre Shevchuck Discusses on American Vineyard
More than more than 9,600 fires burned in California in 2020, destroying more than 4.3 million acres and upending the state’s multibillion-dollar wine industry. Nearly 30 vineyards in Napa and Sonoma counties were damaged or destroyed by 2020 wildfires, and even those that escaped direct damage from the flames still face an uncertain future.
In his article for American Vineyard, Andre Shevchuck says winemakers who explored new processes to overcome tainted grape may be able to take advantage of research and development (R&D) credits on their 2020 tax return. Andre breaks down the four-part test the IRS uses to determine whether a business qualifies for the credit, as well as the activities that are excluded from the R&D tax credit.
Read the entire article on American Vineyard.
About Andre Shevchuck
With more than 15 years of public accounting experience, Andre assists clients in a wide range of industries, including winemaking, food processing, manufacturing and life sciences. He leads BPM’s Research and Development (R&D) Tax Credit Consulting practice, helping clients identify, document, and defend their R&D tax credit claims.
About BPM’s Wine/Craft Beverage Group
BPM is one of the largest California-based accounting and consulting firms, ranking in the top 50 in the country. It has served the San Francisco Bay Area's emerging and mid-cap businesses, as well as high-net-worth individuals, since 1986. We have served California’s wine and craft beverage communities for the past 30 years. Our Wine/Craft Beverage professionals serve the diverse needs of wineries and breweries of all sizes – from small négociants to large, fully integrated winery, breweries and suppliers. Our specialized advisory services include business succession planning, mergers & acquisitions, due-diligence, valuation and CFO services. For more information, visit https://www.bpmcpa.com/Wine