Wine for Tax Time: Which Wines to Return To?

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The deadline for taxes is coming up and that thought alone may drive you to drink. Here with her suggestions on which wines to pair with your return is Natalie MacLean, author of the new memoir, Wine Witch on Fire: Rising from the Ashes of Divorce, Defamation, and Drinking Too Much.

Welcome Natalie.

So how do you determine which wine to pair with tax time?

At this time of the year, most of us need some liquid assets. So pairing the right wine with your tax return should not be taken at face value. As well as vinous savvy, you’ll also need financial acumen to calibrate the wine to your T4.

So which wine would you choose if you have to send a cheque in with your return?

First of all, I’m sorry for your loss. After sending in the cheque, it’s time to eat repentant bologna sandwiches for six weeks. If you owe, it’s off to the bargain wine basement you go.

But that doesn’t mean your wines have to be a write-off. There are many wines with excellent PE multiples (that’s price-to-enjoyment) from lesser-known regions, countries with aggressive export strategies and those with weak currency.





Imagery Estate Winery Pinot Noir
California, United States




For wines that make tinned and frozen foods taste better, try Imagery Pinot.


What if you’ve had a break-even year?

Even though you’re not in the red, you still may want to drink red, so try wines that are balanced such as Frescobaldi.






Frescobaldi Tenuta Perano Chianti Classico
Tuscany D.O.C.G., Italy




What if you owe a lot?

Those researching Chapter 11 will want to try wines that offer extreme value such as Fortune Rosé because you’re going to need rosé-coloured glasses.






Reif Estate Winery Fortune Rosé
Niagara Peninsula, Ontario V.Q.A., Canada




What if you’re getting a refund?

There are the happy few walking around with that refund smirk (really, you shouldn’t gloat).

Maturity is a concept that not only applies to your well-stocked cellar and investment portfolio, but also to sharing that windfall with your tax-paying brethren.





Caymus-Suisun Grand Durif
Suisun Valley, California, United States





A splurge wine that still represents excellent value is Grand Durif.


What if you’re getting a big refund?

Show some irrational exuberance with the Laurent-Perrier Rosé Champagne.






Laurent-Perrier Cuvée Brut Rosé Champagne
Champagne A.C., France




A capital choice that go well with your caviar and paté or, if Jeeves has the weekend off and isn’t cooking.


Tax time must be interesting for you, Natalie. Is all wine a write off?


Then there are those of us who actually drink for a living, and for whom all wine should be deductible. (Try having that discussion with Revenue Canada.) The problem is that when your only assets are liquid, you can easily become insolvent.


Now that I’ve written the memoir Wine Witch on Fire, everything should be a write off right?


On a more serious note, what percentage of the price of wine do taxes and fees represent?

About 65% of the price is of wine is tax, so you’ll get to contribute one way or the other.




Posted with permission of CTV.






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