Hops & Ledgers 001 | Protecting Your Brewery Through the Coronavirus Crisis

Send us Fan MailWelcome to the Hops & Ledgers Podcast! Hops & Ledgers is a series of quarterly podcast episodes that will focus on the business aspects of the craft beverage industry.  Presented in partnership with Wipfli CPAs and Consultants, each episode will cover a different area of interest to launch or grow your brewery.  Our intentions with the launch of this new podcast were to bring you much more positive content, but due to the severe impact on the craft beverage industry we felt that our first episode should address Coronavirus / Covid-19 and the resources available to help ease the strain on brewers. Protecting Your Brewery Through the Coronavirus Crisis Pat Tuley and Terry Hoover of Wipfli are our presenters in this episode and will cover the many options available to breweries.  The information presented here is up-to-date as of the recording but this is a constantly changing situation.  Please consults your financial advisor or contact Wipfli with any questions. Topics discussed: Overview of the Coronavirus Aid, Relief, and Economic Security Act (CARES) SBA Loans for Breweries Paycheck Protection Plan (PPP) Economic Injury Disaster Loan (EIDL) What brewers should be doing TODAY Families First Coronavirus Response Act (FFCRA) Emergency Paid Sick Leave Act Emergency Expansion of Family Medical Leave Act Tax Credits Delayed Federal Tax Deadlines and Payments Tax Provisions for Individuals Employee Retention Credit Delayed Payment of Employer Payroll Taxes Modifications to Net Operating Loss (NOLs) Limitation on Losses for Taxpayers other than Corporations Limitation on Business Interest Expense Temporary Exception from Excise Tax for Alcohol used to Produce Hand Sanitizer Resources For Wipfli’s COVID-19 Resource Center, see https://www.wipfli.com/covid-19-resource-center For an IRS summary of filing and payment deadlines FAQs, see https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers For IRS guidance updates on coronavirus tax relief, see https://www.irs.gov/coronavirus For a 35-page Senate staff summary of the overall CARES Act, see https://www.finance.senate.gov/imo/media/doc/CARES%20Act%20Section-by-Section%20(Tax,%20Unemployment%20Insurance).pdf For the CARES Act text, see https://files.taxfoundation.org/20200325223111/FINAL-FINAL-CARES-ACT.pdf Have Questions? Please contact your financial advisor with any questions or reach out to Pat Tuley or Terry Hoover at Wipfli for assistance. Pat Tuley - Atlanta, GA Office [email protected] Terry Hoover - Appleton, WI Office [email protected] Legal Disclaimer The information included and discussed in this presentation is general in nature and should not be relied upon in providing tax or legal advice without independent research and analysis. Tax  and legislative policies are ever evolving.  Current updates to information and analysis included and discussed in this presentation should be considered. This material has been prepared fThanks for listening to Beer Guys Radio!  Your hosts are Tim Dennis and Brian Hewitt with producer Nate "Mo' Mic Nate" Ellingson and occasional appearances from Becky Smalls.Subscribe to Beer Guys Radio on your favorite app: Apple Podcasts | Google Podcasts | Spotify | Stitcher  | RSSFollow Beer Guys Radio: Facebook | Instagram | Twitter | YouTube If you enjoy the show we'd appreciate your support on Patreon.  Patrons get cool perks like early, commercial-free episodes, swag, access to our exclusive Discord server, and more!