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Old 03-16-2013, 01:26 PM   #131
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Right now we are flat out just trying to keep the fermenters fill with our three initial beers. We have some ideas for another beer or two but just haven't had the time to dive into them yet.

Yeah, we all have our home systems that. We'll fun test batches on. One nice thing is that because there are three of us, we can run multiple, slightly varies recipes and pick the best... And then do another round until we get it the way we want it.

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Old 03-16-2013, 02:09 PM   #132
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So do you think at some near point you will be turning a profit? Guessing you may already know this, but if you don't make a profit, in 3 of the next 5 years, then the IRS will consider the brewery as a hobby, so any deductions you make for equipment, etc will be disallowed.

I've seen some people run into this issue before (well they actually expected to make a profit) then get blindsided with a big tax bill when they don't make it. Not trying to be a downer, but just giving you a heads up.
This is true. If you don't make a profit in a certain number of years, it could be considered a hobby which will prevent you from taking "for" agi deductions on losses and force you to take them as itemized deductions subject to a 2% floor


good luck in the future. You can do it
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Old 03-16-2013, 02:14 PM   #133
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I'm not worried about it. We're already profitable... just not on some huge scale. We are in the black already, but again, just not like we are raking in millions of dollars.

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Old 03-16-2013, 02:24 PM   #134
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I'm not worried about it. We're already profitable... just not on some huge scale. We are in the black already, but again, just not like we are raking in millions of dollars.
Nope, more like raking tons of grains. Keep mashing, blue is only a tip jar away.
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Old 03-17-2013, 07:20 AM   #135
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Nope, more like raking tons of grains. Keep mashing, blue is only a tip jar away.
Speaking of raking tons of grain...what are you doing with all your spent grain?
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Old 03-17-2013, 07:01 PM   #136
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Love to read this thread as an accountant myself. I am in the very beginning stages of opening a brewpub myself and these tax issues are the first thing I thought about. Once I get into it a little more, I would lov to talk with you about how you got started with the licensing process.

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Old 03-17-2013, 11:43 PM   #137
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Speaking of raking tons of grain...what are you doing with all your spent grain?
Donchooworryboutit.
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Old 03-17-2013, 11:44 PM   #138
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Love to read this thread as an accountant myself. I am in the very beginning stages of opening a brewpub myself and these tax issues are the first thing I thought about. Once I get into it a little more, I would lov to talk with you about how you got started with the licensing process.
No problem. PM me when ever
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Old 03-18-2013, 02:32 AM   #139
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Donchooworryboutit.
Haha that doesn't sound shady or anything...
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Old 03-22-2013, 06:44 PM   #140
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Wendell's wings suck. Their sauce is the best in NE but they pour that sauce over tiny, overlooked pieces of cardboard. 3.5 is for Nancy's. Suicidal is so much better and Double Dare makes you forget how bad the wings are. Now you know the truth.
I grudgingly agree about the wing size, but it is the best sauce. tried suicidal; they are good but not when i want a lot. the best time to be there is when they are making contest wings. you can't even breathe.

I get a pint or tow of 3.5 and hotter when i am up there and mail it back to myself in florida. then i put it on big ole wings!
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