Bonus depreciation for restaurants

When it comes to strategies for lowering restaurant tax liability, bonus depreciation created by the 2017 Tax Cuts and Jobs Act (TCJA) tops the list. Don’t miss: Year end restaurant accounting If you opened a new restaurant location, remodeled an old one or bought any restaurant equipment this year, you can get a 100% write …

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Year end tax planning for restaurant owners

The end of the year can be a great time for restaurant owners. With family in town, many people will venture out to their favorite restaurants as opposed to making a big meal in their own kitchen, which can be great for business. The end of the year is also a great time for business …

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Challenges and solutions for restaurant growth

Whether you define growth as increasing the number of restaurant locations, or just upping your service game at the locations you have, growing your restaurant business comes with unique challenges. Here are some common challenges to restaurant growth and tips to overcoming them. Challenges to restaurant financing Chief among these unique challenges to restaurant growth …

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Don’t forget to depreciate business vehicles

Changes in tax law implemented in 2018 means businesses have been able to take advantage of depreciation laws regarding their ability to depreciate business vehicles. Here are a few things to keep in mind when figuring out the depreciation. Section 179 is an immediate expense deduction that business owners can take instead of depreciating the …

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