Author Archives: Marisa Parker

General

Restaurant Inventory that Actually Counts

Posted on by Marisa Parker
A chef prepares raw ingredients.
15
Dec

You may not like it, but taking consistent and correct inventory counts is essential to having actionable information. When restaurant operators skip inventory counts, they run the risk of running out of necessary ingredients, cramping cash flow with too much or the wrong inventory, and making poor menu pricing decisions. In collaboration with Toast, our

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General, Taxes

Service Charges vs Tips: Changing Restaurant Wage Models

Posted on by Marisa Parker
couple seated at restaurant table discussing the bill
20
Sep

Service charges are in the headlines more than ever. Many restaurant owners are rethinking their wage model to maintain a competitive advantage during a labor revolution. In this article, I will discuss: Changing wage models The differences between a tip and a service charge Sales tax on service charges Payroll taxes for tips and services

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Capital and Ownership

Incentivizing Restaurant Employees with Ownership Equity and Profits

Posted on by Marisa Parker
08
Dec

If you have been in the restaurant industry for a while, you have probably heard some buzz about alternative pay structures for your managers and employees, such as granting ownership, equity, or deferred compensation. While these ideas might seem tempting to attract and retain good talent, figuring out the differences and tax consequences can be

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General

What Should Prime Cost Be in a Restaurant?

Posted on by Marisa Parker
03
Oct

The restaurant industry is known for having very slim profit margins. According to Restaurantowner.com, the pre-tax average net profit for independent fast-casual (quick service) restaurants is 6-7% and 4-5% for full-service restaurants. When working with such small margins, it is essential to the health of your business to track prime costs. Analyzing these costs can

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Taxes

The Forgotten Tax Credit for Restaurants

Posted on by Marisa Parker
19
Jul

While states are opening throughout the country, the current job market for restaurant owners has been challenging as potential employees are hesitant in the rapidly changing environment. Restaurants can benefit significantly from taking advantage of the Work Opportunity Tax Credit (WOTC) which encourages restaurants to expand their hiring pool. Eligibility for the WOTC The WOTC

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