How many wines do you make per year?

[MedPretzel]

In which way, PWP?


Whatever doesn't exchange cash/debit/credit, is totally unknown to the IRS/Feds.


Someone gives you a gift, and you give one in return? Are gifts ("Christmas gifts") reportable to the IRS?


Or you could do a "Wine-Tasting" get-together. Parties for business purposes are tax-deductable.... Hint, hint. No, my party was NOT a tax deduction!

 

[peterCooper]

Do we have to define wine?
What about strong lemonade or apple cider?

 

[PolishWineP]

Peter, anything that we can legally make is about what I am wondering.


Martina, We need a new roof. If we were to pay for the supplies with cash and exchange roofer labor for wines we create, is that legal?


I do remember about 10-15 years ago reading about the IRS trying to get involved in big deals like that. I sure don't want the revenuers coming after me, but if it's possible I'd like to exchange our labor making good wines for the labor of people putting a good roof on our home.


It's funny how the tax man hears about things like this. We have a neighbor who I don't think would think twice about dropping a dime on us if he found out about a deal we'd cut. And in small towns, everyone tries to know everyone else's business.

 

[MedPretzel]

Martina, We need a new roof. If we were to pay for the supplies with cash and exchange roofer labor for wines we create, is that legal?

All I will say is... Ask George. I am sure he can answer this one for ya!

Accountant by trade, Winemaker by calling. He'll be the best to answer this one.


In my limited knowledge, ask the roofers to a party???? Of course, the party might cost 10,000 (???) but at least you might get 30% back?





M.

 

[masta]

PWP,


If you get the proper permits for putting on your roof it is nobody's business how you pay the contractor. I am so glad I don't have the pain in the *** neighbors who have nothing better to do than worry about who is doing what with their own home.

 

[PolishWineP]

Yea, this guy is a piece of work. I'll tell you all about him when we're in Texas. It makes a good story, along with the "Screw-Top Wine Bottle and the Cork Screw." I have some stories that will make you laugh or cry. I like to laugh!