Exkalibur University, Organizer & Host
This is the 9th Annual Wine Industry Workshop organized by Exkalibur University, the education affiliate of The Exkalibur Organization, with the support of our Wine Industry Sponsors.
1. The Latest Tax & Accounting Changes for Wineries & Growers
Tax and accounting experts from Moss Adams will provide an update on what’s been learned since the Tax Cuts and Jobs Act (TCJA) became effective on January 1, 2018. They will include a breakdown of lessons learned including how the major proposed accounting changes may impact the wine industry, including:
- The C corporation tax rate decreasing to a flat rate of 21% from a maximum rate of 35%.
- If you’re a winery or vineyard taxpayer that isn’t structured as a C corporation, there’s a new 20% QBI deduction available through 2025 for the owners of flow-through entities and sole proprietorships.
- The benefits of the cash basis method of accounting. Simplifying the accounting of the overall business isn’t the only advantage for a winery using the cash method of accounting Certain rules also allow taxpayers to use simplified methods to account for inventory from a tax perspective.
- Bonus depreciation has a significant impact on business acquisitions in the wine industry. If a taxpayer acquires an existing business in a qualified asset acquisition, he or she may be able to take 100% bonus depreciation on all assets that have a tax life of 20 years or less and recognize that deduction entirely in the year of purchase.
- What revenue recognition and lease accounting may mean for the wine industry.
Mike Ricioli, CPA, Partner, Moss Adams LLP
Mike has been in public accounting since 2000 with a focus on serving members of the wine industry. He is also the Partner-in-Charge of the Napa and Santa Rosa offices.
Aaron Tompkins, CPA, Partner, Moss Adams LLP
Aaron has practiced public accounting since 2002, working with mid-sized public and closely held businesses in tax planning and compliance matters.
Rae Paulson, CPA, Senior Manager, Moss Adams LLP
Rae has been in public accounting since 2005. She provides assurance services for clients in a variety of industries, predominantly wine, food processing, and natural resources.
2. How to Control Rising Insurance Premiums
With the extraordinarily losses due to natural disasters in wine country over the last few years, property and casualty insurance rates have increased dramatically, with fewer insurance companies willing to provide adequate coverage. Join us for a panel discussion of specific steps you can take to reduce your premiums, manage your risk and increase the security of your property.
Here are some of the issues you’ll need to address to manage your risk profile:
- Storing your wine with everyone else threatens adequate coverage. What can you do about it?
- The insurance companies want to know a lot more about your business. What will you tell them?
- There is new exclusionary language showing up in your policies. Are you aware of what they’re saying?
Liz Bishop, Managing SVP, Heffernan Insurance Brokers
Debra Costa, Senior Vice President Heffernan Insurance Brokers
Debra Costa is a Senior Vice President of Heffernan Insurance Brokers and leads their Wine Practice. Debra has over 25 years of commercial insurance experience and specializes in insuring wineries and food manufacturing operations.
3. Why Branding Strategy should be the Cornerstone of Your Marketing Plan.
How can you re-establish the fundamentals of your brand and re-engage your targeted consumer at a heightened level? What are the keys to developing strategies, tactics and actions plans for a successful Brand Planning Strategy?
Here are some of the topics we will discuss:
- How to understand your brand’s strengths & weaknesses in order to identify and take advantage of the opportunities that exist in the marketplace.
- Who is your competitor in terms of volume, price and acclaim and where your brand is relation to them.
- How to develop concise, authentic, and engaging content that establishes a compelling brand narrative that will draw consumers to your brand.
- How to evaluate your brand’s strength and visual appeal in relation to core messaging and your targeted consumer base.
- How to analyze your pricing, margins and revenue by channel to be competitive and build brand equity.
Mark Evans, President, Triumph Advisers
Mark’s professional career has spanned 32 years working in various senior sales and marketing management positions.
Colin MacPhail, Founding Partner, Vinfabula
Colin MacPhail is a founding partner of VINFABULA, a consultancy that helps brands profit from identifying, aligning, and communicating their most powerful stories.
Lisa Ehrlich, Owner, Lisa Ehrlich Consulting
Lisa is devoting her sales, marketing, brand development and general management skills to work for consulting clients, building new and established wine and spirits brands.
4. What you can do to prevent Cyber Attacks
The following are a few top-trending cybersecurity and related requirements your winery should be aware of and ways to prepare for, or reduce damage caused by a security breach:
- Direct Data Breaches
- California Consumer Privacy Act (CCPA) Compliance and Beyond
Greg Reber, Partner, Moss Adams
Greg has specialized in IT security consulting since 1995.
5. Put Marketing Execution at the Center of Your Sales Plan
Join our deeply experienced panel who will discuss the role of marketing in the “new world” of wine.
Marketing has traditionally taken a back seat to the sales process, relegated to “designing” winemaker notes, labels and website content. Meanwhile, Most wineries have relied upon product quality measures (ie scores, etc) and distributor activities (placements) to drive demand.
In this era of unprecedented change, wineries need to lead with marketing. Consumer demand is where success starts and stops. Relying on scores or placements in key accounts will no longer be sufficient. Marketing prowess to create demand is now the touchstone for sales success.
• Quality is no longer a differentiator. Relying on scores won’t get the job done.
• You can’t count on distributors to build demand for your wines. How will consumers choose your wine?
• Can you define your target customer and find a path to their heart?
• Can you answer the critical question “Why should the consumer care”?
Join us for a vigorous discussion of these issues and your chance to ask questions about marketing best practices.
Steve Tamburelli, Co-Founder, Vinitas Wine Group
Steve Tamburelli is the Co-Founder of the Vinitas Wine Group with over twenty years of experience in leading some of the world’s most prestigious wine brands.
Alexis Walsh, Former Senior Vice President Marketing, DAOU Vineyards & Winery
Alexis Walsh is a strategic and commercial marketing executive, with over 15 years of experience in the wine industry. She is a passionate leader with strong commercial acumen and bottom line focus, and is skilled at aligning sales, marketing and strategy to achieve business objectives.
Lisa Rhorer, Former Marketing Director, Adobe Road Winery
In her former role as Marketing Director for Adobe Road Winery, Lisa was responsible for driving brand growth for Adobe Road and The Racing Series brands across all channels.