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Horrible news. Hail devastates Vouvray.
- Thread starter Brad Kane
- Start date
Ian Fitzsimmons
Ian Fitzsimmons
Probably a stupid question, but won't he get any kind of a tax break, based on his substantial business loss, that would offset these relatively modest revenues? The man is forgoing a whole year's (or two) business income.
In the case of futures, could payments be packaged as a loan from, say, the importer, eventually to be repaid in kind?
In the case of futures, could payments be packaged as a loan from, say, the importer, eventually to be repaid in kind?
originally posted by Ian Fitzsimmons:
Probably a stupid question, but won't he get any kind of a tax break, based on his substantial business loss, that would offset these relatively modest revenues? The man is forgoing a whole year's (or two) business income.
In the case of futures, could payments be packaged as a loan from, say, the importer, eventually to be repaid in kind?
Socialist systems favor labor over capital.
kirk wallace
kirk wallace
originally posted by Ian Fitzsimmons:
Probably a stupid question, but won't he get any kind of a tax break, based on his substantial business loss, that would offset these relatively modest revenues? The man is forgoing a whole year's (or two) business income.
In the case of futures, could payments be packaged as a loan from, say, the importer, eventually to be repaid in kind?
Gift " income" is not reduced by business losses.
originally posted by Ian Fitzsimmons:
Probably a stupid question, but won't he get any kind of a tax break, based on his substantial business loss, that would offset these relatively modest revenues? The man is forgoing a whole year's (or two) business income.
In the case of futures, could payments be packaged as a loan from, say, the importer, eventually to be repaid in kind?
In principle, business losses can be offset against profits for tax purposes. In most European countries there is a time delay for offsetting losses of 5 years. Even if ultimately taxable, payments deemed to be revenue receipts would still bring cash flow relief until the happy time when he has taxable profits again. VAT also could be a hazard.
I'm sure that a way can be found where there is a will. Capital contribution? Non-voting shares?
Ian Fitzsimmons
Ian Fitzsimmons
originally posted by VLM:
Socialist systems favor labor over capital.
You can favor without entirely abandoning balance.
originally posted by kirk wallace:
Gift " income" is not reduced by business losses.
I suppose, but most of the discussion has been about expediting payment in some kind of a business framework, as opposed to outright gifts (which I wonder if Pinon would want, in any event).
Ian Fitzsimmons
Ian Fitzsimmons
originally posted by SFJoe:
I was thinking something more like "The Producers."
From Zero to hero.
originally posted by SFJoe:
originally posted by SFJoe:
Also, I know a guy who knows a French tax attorney or three, and inquiries are in progress. (He sometimes posts here, but hasn't on this question).
He relays to me a pessimistic view. There doesn't seem an obvious way to avoid some steep French taxes.
In further news from Parisian sages, "after they made a few phone calls: there are no existing structures to channel the funds in a tax effective way. A possible way could be to set up a foundation which would either make long term interest free loans or invest in sub-preferred non-voting shares in the agricultural companies."
To which I would add that these would seem to involve nonzero transaction costs.
originally posted by SFJoe:
I was thinking something more like "The Producers."
I call dibs om the casting.
Mark Lipton
Jay Miller
Jay Miller
Or perhaps sell vineyard tours to be arranged at a mutually convenient future time?
Oswaldo Costa
Oswaldo Costa
originally posted by Don Rice:
Well I just cleaned out the 05 Cuvee Botrytis from 67th St wines. Looking forward to assisting in other ways.
+1 (from elsewhere, of course).
Mike Evans
Mike Evans
Does anyone have any news on the Pinon front? I suspect that they are still in the assessment and planning stage, but didn't want this to fall off the radar (mainly my own).
originally posted by Mike Evans:
Does anyone have any news on the Pinon front? I suspect that they are still in the assessment and planning stage, but didn't want this to fall off the radar (mainly my own).
No, but I'll check in with Kevin.
originally posted by Mike Evans:
Does anyone have any news on the Pinon front? I suspect that they are still in the assessment and planning stage, but didn't want this to fall off the radar (mainly my own).
Bumping this back into view.
Received a quick note from Francois last week, thanking us for our concerns and hinting at an upcoming library release. Here's a snippet:
" Since the beginning of july we have a real summer (no rain and hot weather).
[That's] very good for the vines and for the vigneron's mind.
... We plan to sell some old sweet bottles in NYC.
it's the good thing to do waiting for the new vintage."
Jay Miller
Jay Miller
originally posted by Don Rice:
originally posted by Mike Evans:
Does anyone have any news on the Pinon front? I suspect that they are still in the assessment and planning stage, but didn't want this to fall off the radar (mainly my own).
Bumping this back into view.
Received a quick note from Francois last week, thanking us for our concerns and hinting at an upcoming library release. Here's a snippet:
" Since the beginning of july we have a real summer (no rain and hot weather).
[That's] very good for the vines and for the vigneron's mind.
... We plan to sell some old sweet bottles in NYC.
it's the good thing to do waiting for the new vintage."
Great news on both fronts!
originally posted by Jay Miller:
originally posted by Don Rice:
originally posted by Mike Evans:
Does anyone have any news on the Pinon front? I suspect that they are still in the assessment and planning stage, but didn't want this to fall off the radar (mainly my own).
Bumping this back into view.
Received a quick note from Francois last week, thanking us for our concerns and hinting at an upcoming library release. Here's a snippet:
" Since the beginning of july we have a real summer (no rain and hot weather).
[That's] very good for the vines and for the vigneron's mind.
... We plan to sell some old sweet bottles in NYC.
it's the good thing to do waiting for the new vintage."
Great news on both fronts!
Indeed!
I heard a report passed from Foreau that things for him were not as bad as originally feared, that he lost about 25%, but that the year is turning out well so far and that harvest looks to be around mid-October if things continue as they have.
Mike Evans
Mike Evans
I can confirm that the Pinon library sale is a reality, having received an offer a couple of days ago from the primary local purveyor of LDM wines. The offer is for a six bottle lot for $1,200 consisting of:
1 bottle each Vouvray Cuvée Botrytis 1989, 1990 and 1996
1 bottle each of Vouvray Goutte d'Or 1989 and 1990
1 bottle of 2013 Vouvray
Having never had any older wines from Pinon, I'm looking forward to trying them. And I'm glad to do my own small part to help Francois and his family in the wake of the devastation from last year's hailstorm.
1 bottle each Vouvray Cuvée Botrytis 1989, 1990 and 1996
1 bottle each of Vouvray Goutte d'Or 1989 and 1990
1 bottle of 2013 Vouvray
Having never had any older wines from Pinon, I'm looking forward to trying them. And I'm glad to do my own small part to help Francois and his family in the wake of the devastation from last year's hailstorm.