As most of you know, the CARES Act has been all over the news for the past couple of months, primarily as it relates to government stimulus checks and of course the Paycheck Protection Program, the intricacies of which are still being navigated by borrowers and their tax advisors. One of the more important and …
A new decade is well underway, and below are ten top tax tips (say that five times fast) to make sure this year is your most tax-savvy to date! Don’t miss: Resources for restaurants during COVID-19 crisis Review your compensation – if your restaurant is owned in an S Corporation, you may want to review …
Employers incur costs to recruit, hire and train new employees. Typically, these turnover costs in the restaurant industry can range anywhere from $3,000-5,000 or more, depending on the level of employee. So high turnover can be detrimental to any restaurant and business. There are some things that can be done that might help reduce turnover. …
Written reviews on restaurants are everywhere now. Not only do people hear good & bad experiences just through word of mouth, but looking up reviews is just a click away thanks to companies like Yelp and Google. Unfortunately, that means people can write a scathing review and the whole world can see. It happens to …
With technology today, it’s simple enough to find out what items you might need to prepare for an audit of your restaurant. But it’s not as common to find ways that you can improve your preparation tools. In this blog, we’ll look at five preparation tips/tools, and ways that enhancing these areas can improve your …
Operators of full-service restaurants should take note of recent developments from the United States Department of Labor, regarding regulations governing the use of tip-pooling arrangements. There is one caveat to be aware of, which is that the non-tipped duties must be performed in conjunction with tipped duties, or within a reasonable amount of time before …
When most business owners think of potential risks their restaurant could face, I would bet the first thing that comes to mind would be food safety. And rightly so. The health and safety of your customers should be top of mind. All restaurant owners should be aware of the regulations they are subject to, what …
FASB has just given the go-ahead to delay the effective date of the new lease standard for private companies for another year. Now it won’t be applicable until 2021 for calendar year ends. But it is still important to envision what the impact will be to your financial statements. Our earlier blog, “New lease standard: …
Third-party delivery services like Grubhub, DoorDash, UberEats, and Postmates have been growing in popularity over the past few years and will continue to grow. The industry is currently over a $15 billion dollars and is expected to grow at least 10% to 15% per year over the next five years. These services provide consumers the …
Leading with courage takes many different forms and can be challenging to break tradition or old habits, but it can propel us forward to become better operators and corporate citizens. This year’s Restaurant Leadership Conference (RLC) took place at the JW Marriott Desert Ridge in Scottsdale, Arizona from April 7 – 10 with a theme …