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Tax and Consulting Services
Planning is the key to paying the minimum taxes legally allowed, and planning in the agricultural industry is even more critical due to ability to shift income and expenses and the cyclical nature of the industry. It is critical that tax planning begin months before the year end in order to ensure the desired result.
No element of the entire public accounting spectrum is more complex and ever-changing than the area of tax planning. The tax treatment in agriculture is very specialized and an accountant with extensive agriculture tax experience is critical. Our professionals closely monitor developing complexities of agriculture tax law.
Consulting is a key component to tax planning. Barbich Hooper King Dill Hoffman provides professional consulting services so agriculture and winery business owners can meet their business goals. Whether it is planning for growth, entity consolidation, business succession, or financial forecasting, we can help. We offer a full range of consulting services for clients in the agriculture and winery industries by professionals who understand these sectors.
Wineries are a specialized extension of agriculture with unique concerns and issues. Of importance to wineries are capitalization and depreciation of vineyard costs, the most tax efficient structure of the organization and election of the basis of accounting, capitalization of costs during the wine making process, and proper tax and book accounting for such things as grower payment contracts for related parties.
We support this important industry through participation in the annual Farmer’s Tax and Accounting Conferences, the Central Coast Wine Industry Conference, and membership in local vintner's associations.
Accounting and Auditing Services
Barbich Hooper King Dill Hoffman is a leader in accounting, business consulting and financial statement preparation for the agriculture and produce industries. Our audit professionals offer three levels of assurance services in financial reporting: audit, review, and compilation. The agriculture industry is becoming increasingly complex and businesses must process large amounts of information for external reporting to financial institutions, creditors, government agencies, and for internal use so good business decisions can be made.
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