Your Guide to Finding a Brewery Accountant 2023
Do you have a brewery accountant that you trust to point out cash flow issues, find more profitable ways to run your business, and save you thousands of dollars in tax credits each year?
If not, it’s time to switch accountants.
Working with a dedicated brewery accountant that pushes your business forward is one of the best investments you can make in your business.
Here are a few things you should look for when searching for your best-fit brewery accountant in 2023.
Skip to Our Quick Quiz: Is It Time For a New Brewery Accountant?
Knowledge of Tax Opportunities
Let’s face it, the number one reason why business owners hire accountants is to save money. That, and to avoid any trouble with the IRS!
Which is why your accountant should not only specialize in brewery accounting, but should also be well-versed in brewery-related tax credits.
You wouldn’t believe how many first-time brewery clients come to us at U-Nique Accounting who have never been told about lucrative tax credit opportunities such as the R&D Tax Credit or the FICA Tip Credit.
Note: As a brewery, anytime you come up with a new recipe, you can attribute the costs of labor and experimentation to “R&D” which in turn qualifies you for a 7-10% reimbursement through the R&D Tax Credit! Unfortunately the IRS has recently changed the rules on the R&D Tax Credit for tax years 2022 and forward and all R&D can no longer be deducted in the year incurred, but must instead be capitalized and slowly amortized over 5 years.
Make sure you find an accountant who takes the time to truly understand your business and will scrape the barrel to help you save as much money as legally possible from Uncle Sam.
If you’re curious about the tax credits you could be missing out on, check out our Top 5 list here.
Another thing to look at when searching for your brewery accountant is what kind of services they provide.
If a brewery accounting firm only provides tax services, you will still need to look elsewhere for a bookkeeper, payroll provider, and maybe even financial advisor to fill these gaps in your business.
The good news is that there are accounting firms (like ours!) who provide every accounting service you need so that you can keep everything under one roof.
And honestly, it’s better this way. One team can keep an eye on your expenses (bookkeeping), cash flow, tax credits, and overall business trajectory to give you advice on the full picture of your business.
If an accountant is only responsible for one piece of the puzzle, it’s likely that you won’t see the full benefit of our expertise.
Take Our Quick Quiz: Is It Time For a New Brewery Accountant?
Tools & Workflow Automation
You may be thinking to yourself:
“Let’s get real. Do I really need an accountant that focuses on tools and automation?”
And the answer is YES!
The best accountants in the industry stay up-to-date with the most advanced technologies available because it will save you time and make life that much easier.
One of our favorite parts of our job as brewery accountants is helping brewery owners implement technology solutions that transform time-consuming, manual processes into automated and efficient ones.
We’ll recommend bookkeeping software, receipt automation, cash flow forecasting tools, and more that can integrate seamlessly with your POS and other systems to ensure that the data is reliable and consistent across every software.
And we help you do it!
Communication, communication, communication!
Finally, if you’re like many business owners frustrated with their current accountants, it’s probably due to a lack of communication.
We hear this a lot from new clients.
Contrary to many of my colleague’s opinions, an accountant should work ON your business with you together, not just send you a meaningless report once a year.
Have a question? You should be able to email away.
Need to make a hard decision about financing options? Pick up the phone and let’s chat!
Your accountant should be available to answer questions, educate you on financial topics, and ultimately guide you to become a much savvier business owner.
Having open lines of communication with your accountant is probably the #1 key to unlocking your business growth potential.
So, Where Can I Find a Brewery Accountant?
If you aren’t happy with your current accountant, we’re always here to help.
You Can Take Our Quick 60-Second Quiz: Is It Time For a New Brewery Accountant?
Alternatively, you can book a 15-minute call with our team anytime, and we can discuss whether or not working with us would be a good fit for your business.
If it’s not? We’re not pushy. We’ll point you in the right direction to someone else who can help.
And if you’re wondering when a good time to switch accountants is, the answer is NOW!
At U-Nique Accounting, we get all of our taxes done early so that nobody is stressed during tax time. This means we have the capacity to onboard new clients at any time and still file taxes early without the stress and chaos of typical, overworked accounting firms.
Ready to have a chat?