Finance to Table Education for Operating Your Restaurant

SALT Restaurant Accounting 101

When you’re ready to expand your restaurant business across state lines, there are SALT restaurant accounting issues you need to be aware of. Managing SALT (state and local taxes) matters across state borders requires an understanding of the complexities of multistate taxes. Proper accounting of SALT can help restaurant owners avoid expensive mistakes. Here are …

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Restaurant tax strategies your generalist CPA may be missing

There’s a lot a generalist CPA can do for your restaurant business. But at the same time, there’s a lot more to be gained by working with a CPA who specializes in restaurant tax and accounting. If you’re not working with a restaurant accounting specialist, you could be missing out on some key credits, deductions, …

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Data Analytics for your restaurant

When you think of ways to improve your restaurant’s performance, tech and data don’t usually come to mind first, but it should. Your business is awash in data and getting it to work for you will help you set realistic goals, efficiently target your client base, improve internal processes and identify business opportunities. Here’s what …

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Breaking up with your CPA

Business partnerships are a lot like relationships. You get into one thinking it’s for the long haul but along the way your needs stop getting met. It’s easy to settle for substandard service, and it’s hard to know when it’s time to cut your losses and move on. But there are red flags you can …

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Three top pain points for restaurants and what to do about them

It’s rough out there for restaurants right now. What COVID-19 didn’t kill, problems left in the pandemic’s wake are threatening to. Restaurants weathered the last few years with flexibility and creative problem-solving. You turned your parking lots into dining rooms, offered take-out Margaritas, introduced QR code menus and accessed federal assistance funding to fill in …

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Restaurant financing ideas

Your days as a mom and pop shop are behind you. You threw your life savings into your restaurant, asked your friends and family for additional funding, and you’re ready to grow your concept. Now what? Here are some tips on finding restaurant financing. Get your accounting process in order. As a small restaurant business …

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Clean up for restaurant audits

When thinking about your year end restaurant audits there are some key areas that could be cleaned up in order to help the audit process go smoother. Don’t stress, we have put together a list of some common areas that generally result in financial statement adjustments and ways to help prevent this. Don’t miss: Understanding …

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Understanding your restaurant’s chart of accounts

A restaurant’s chart of accounts is the foundation for all financial recordkeeping. It’s a coded list of all of the assets, liabilities, income and expenses that flow in and out of your business. Have you ever looked at your P&L and wondered what made up each line item? Having a solid chart of accounts will …

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House passes $42 billion Restaurant Revitalization Fund replenishment

The U.S. House of Representatives voted today to add $42 billion to the Restaurant Revitalization Fund for food industry businesses that originally applied for a grant. Restaurants that applied previously will not need to reapply. The Restaurant Revitalization Fund was passed in 2021 with $28.6 billion, providing desperately needed assistance to over 100,000 restaurants. But …

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Ease hiring, finance pain with the Work Opportunity Tax Credit

As restaurants continue to reopen and struggle to find new employees, they may be leaving an untapped employee pool and lucrative tax planning opportunities on the table. The Work Opportunity Tax Credit is a federal tax credit for hiring individuals from a few targeted groups designated by the IRS. In general, employers can receive a …

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