Kristine Thomas, contributor to the Capital Press — a weekly newspaper covers farming, ranching and agriculture industries in the Pacific Northwest — recently interviewed Winemaker Dave for insights into how agricultural businesses should secure financial advisors and partners. Dave was included in a four-part series: Four Steps to Financial Health. In the third part, “Pick The Right Accountant,” Thomas asked Dave why a former corporate tax attorney would need to hire a CPA.
Here’s what Dave had to say:
The old saying “time is money” applies to Bells Up winemaker and owner Dave Specter. While he certainly has the skillset to tackle the business side of his winery, what he lacks is the time.
Before he and his wife, Sara, started Bells Up Winery in Newberg, Ore., in 2013, Specter spent more than a decade as a successful corporate tax attorney working for multinational public accounting firms.
“For a small winery like ours, it is simply not possible for a single person to handle every aspect of the operation and be successful even if you have expertise in a field,” Specter said. “Making and selling wine are where my attention is needed each day, so what we pay our CPA to do our annual tax returns and planning is among the best money we spend each year.”