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Don’t Be Caught Off Guard By Deferred Revenues
Despite the fact that most restaurant operators have fairly straightforward revenue recognition as a point-of-sale business, deferred revenues can often catch a restaurant operator and franchisors off guard. While Generally […]
Proposed Tax Law Changes And Impact To Restaurants
On Tuesday, January 16th, Congress introduced a bipartisan tax framework that would modify and extend a handful of tax provisions that would significantly impact restaurants. Below are some key highlights […]
Is A Cost Segregation Study Your Restaurant’s Next Tax Savings Opportunity?
Cost segregation studies have been around for many years, yet many in the restaurant industry are unfamiliar. Cost segregation studies allow taxpayers with significant capital expenditures toward their facilities to […]
Reporting Beneficial Ownership Information Critical To Avoiding Hefty Penalties
The Corporate Transparency Act (“CTA”) was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires that certain entities disclose beneficial ownership information […]
Year-End Tax Strategies For Restaurants
Not only is the end of the year reserved for holidays and time with family, it is also the time of year for year-end tax planning. Although there have been […]
Ohio Joins List Of States Considering Eliminating The Tip Credit
On August 31, 2023, a group of Ohio Senators introduced Senate Bill 146, a Bill that may bring significant changes to restaurants operating in Ohio. SB 146 would raise Ohio’s […]