Category Archives: Taxes

Who gets a 1099?

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In the first few weeks of January, we get many questions about why we’re requesting W-9s for so many vendors. We hear a lot of “we don’t have any contractors, so we don’t need to file 1099s” but that’s not actually true. In this article, we explain who should receive a 1099, and why we

The 2022 Guide to Restaurant Taxes: Tips and Advice

Restaurant accounting and tax specialists have navigated many operators through millions of dollars from COVID Relief, and helped many restaurants become cash-flow-positive even throughout the pandemic. When tax time comes around, working with a seasoned accounting team like the Fork CPAs helps keep the momentum, and ensures the filing process is as pain-free as possible.

Service Charges vs Tips: Changing Restaurant Wage Models

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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

The Forgotten Tax Credit for Restaurants

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