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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 […]
Tax Impact Of Tenant Improvement Allowances And The “Section 110 Exclusion”
Often used as an incentive by real estate lessors, tenant improvement allowances are an important factor and negotiation tool for many companies, especially restaurants, looking to refresh or build a […]
Top 10 Restaurant Topics In 2023
Keeping up with the ever-changing business environment doesn’t have to be taxing! Check out the top 10 restaurant topics we’re keeping an eye on. Labor Shortage and Wage Increase: […]
Can You Benefit By Making A Pass-Through Entity Tax Election?
Many restaurant owners could be uniquely positioned to slice thousands of dollars off their federal tax bill due to the recent proliferation of state-level elective pass-through entity taxes. If your […]