Learn how to plan restaurant startup costs, estimate build-out budgets, and evaluate profitability before opening your restaurant.
You shouldn't run personal expenses through your restaurant for multiple reasons, but here are the top 5:
Author Archives: Raffi Yousefian
23
Dec
Dec
If your restaurant or bar is structured as a partnership with foreign partners, you may have an obligation to withhold and remit U.S. federal income taxes on their behalf and file additional forms with your partnership tax return. A restaurant group, restaurant, or bar structured as a partnership with foreign partners generates "income effectively connected
Restaurant Accounting, Restaurant Growth and Profitability
How Effective Beverage Inventory Can Lower Your Liquor Cost by 3%
06
Nov
Nov
What’s everyone’s favorite type of drink? A free one! Most bars and restaurants conduct beverage inventory to some degree, but few do so in a way that is truly effective for their bottom line. An effective beverage inventory system will cover the basics of ordering weekly and periodic financial reporting, and it will provide insights
29
Oct
Oct
Do you ever feel like all these restaurant LLCs you set up for your restaurant group are more formality than function? If so, keep reading, because simply organizing your restaurant, holding company, management company, and real estate as separate LLCs doesn’t necessarily protect you from liability. To get the real benefit, you have to follow
Restaurant Loans & Financing
Merchant Cash Advances (MCAs) and POS Loans: The True Cost and Why Restaurants Should Steer Clear
29
Oct
Oct
This is a Guest Article was written by Mike Spitalney, CEO and founder of Everfund, a leading small business financing advisory firm. If you’d like to connect with Mike, you can inquire here or email him directly at mike@everfundcommercial.com. If you run a restaurant, you’ve likely seen the offers: “Fast cash tomorrow.” “No credit score minimum.” “Pay as you sell.”
Restaurant Accounting, Restaurant Accounting Automation, Restaurant Taxes
Restaurant Payroll Compliance: How to Avoid Common Payroll Mistakes
17
Sep
Sep
Running payroll for a restaurant isn’t easy. Between managing inventory, keeping customers happy, and staying compliant with health and labor laws, payroll can feel like one more complicated system on your plate. But payroll mistakes in restaurants can quickly turn into compliance issues, unhappy employees, and even financial penalties. Fortunately, with the right systems (POS,
30
Jul
Jul
inKind is an unconventional source of financing that is emerging everywhere for restaurants. inKind advances interest-free capital to restaurants in exchange for credits that inKind app users can redeem for a discount at the restaurants within a specified period. Customers use the inKind application at restaurants to pay their bills and receive a 20% discount.
24
Jul
Jul
The One Big Beautiful Bill Act (OBBBA) has been signed into law by the President. What does that mean for your restaurant, bar, or nightclub? Here are some of the key provisions in the final bill that will significantly impact your restaurant or bar's finances: 100% bonus depreciation for property acquired and placed in service
Restaurant Accounting, Restaurant Growth and Profitability, Restaurant Taxes
Sales Tax on Gratuities, Service Charges & Cover Charges
01
Jul
Jul
Sales Tax on Gratuities, Service Charges & Cover Charges In the world of restaurant sales tax compliance, some of the most significant audit risks come from everyday practices, like tipping, service charges, and cover charges. You may think it’s just a matter of what you call it on the guest check, but auditors are looking
Restaurant Accounting, Restaurant Accounting Automation, Restaurant Taxes
Use Tax, Myths & Legal Landmines for Restaurants
01
Jul
Jul
Use Tax, Myths & Legal Landmines for Restaurants If Sales Tax is the one you see coming, Use Tax is the one that hits you from behind. It doesn’t show up on receipts, your POS isn’t tracking it, and most restaurant owners don’t even know they owe it until an auditor does. But if you’re
