News & Resources

Indianapolis Grant Opportunity for Signs and Lighting

  The Small Business Facade and Property Improvement Program is a component of the Inclusive Economic Opportunity Districts Program that provides matching grants to property and business owners that are interested in renovating. These improvements could include new signage, exterior lighting,

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Restaurant Retention Credits

Do you run or manage a restaurant or any other related business and had less than 100 full time employees, that took a significant hit to revenue in 2020? Then there is a strong likelihood you qualify for the employee

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2016 Tax Planning for Restaurants

  As 2016 has come to an end, taxpayers need to be proactive in year-end tax planning. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act), was signed into law in December 2015 and made many changes that

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Questions Brewery Owners Should Ask Their CPAs

  Do you own a brewery and have a question that you think may be outside of your CPA’s scope of knowledge? Do yourself a favor and contact Somerset as we have dedicated professionals focusing on the accounting needs of

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Tax Breaks for Brewpubs

  Owning and operating a brewery can be an expensive business, from the cost of maintenance and ingredients for brewing the beer, to employee compensation and everything in between.  What can breweries brewing their own beer do to help keep

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Beer Fact Fridays

Beer is healthy… sign me up! A Cali-based brewery is making beer healthy.  This brewery is adding “super foods” (acai berry, cinnamon oil and flax seed oil) known for their nutritional value and health enhancing properties. Genius! Now we can

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Beer Fact Fridays: Barrel Aged Beer

Brewing good beer is a science, but brewing great beer is an art.  Barrel aged beer is usually done on a small scale and can start with a single cask. It’s impossible to determine how the beer will react –

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Beer Fact Friday

A youthful audience: 49% of Millennials say that craft beer appeals to them. Industry growth: Indiana has gone from 63 breweries in 2013 to 98 today, while craft beer sales nationally rose 17.2% in 2013. Local love: 40% of GenX’ers

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Beer Fact Fridays: Hops…. You Need Them!

Growing season is in full swing, and according to the latest hop report, growth in market product is expected. While Indiana is known for corn, there is “more than corn in Indiana” as the saying goes, and Indiana hop farms

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Recovery for Design Firms

  Design firms are continuing their steady recovery from the recession but have yet to return to the level of financial strength they enjoyed prior to the downturn, according to the 2014 Deltek Clarity A/E Industry study. Somerset CPAs and

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Excise Tax Regulations for Craft Brewers

  There is legislation that may change the excise tax regulations in the country, lessening the burden on craft brewers. And if this legislation gets through Congress, most craft brewers will benefit.  This bill would reduce the federal beer excise

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Three Ways to Raise Capital for Your Brewery

  Raising capital can be grueling that entails infinite sales pitches and pleas for checks.  Somerset CPAs can help you navigate and avoid any pitfalls that may arise in seeking out necessary cash to grow your brewery business. There are

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