IRS ruling allows vineyard owners some appellation-based deductions
on 04/11/10 at 10:25 pmIndustry
Can Your AVA Reduce Your Taxes?
Washington, D.C. — A Chief Counsel Advice ruling issued Oct. 8 by the IRS appears to allow some vineyard owners to depreciate the added value provided by a recognized American Viticultural Area designation. But the ruling is as yet unproven: It will not apply to everyone, and everyone who wants to utilize it should seek professional advice, experts explained.