Tag Archives: taxes

Use Tax, Myths & Legal Landmines for Restaurants

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

Recordkeeping, POS, and Multi-State Sales Tax Risk for Restaurants

People around a bar at a nightclub.

Recordkeeping, POS, and Multi-State Risk Part One on Sales Tax Audit Triggers showed what sparks a sales tax investigation; this next chapter shows you how to prepare for one. When the audit notice arrives, what matters isn’t just what happened; it’s what you can prove. The systems you use, the reports you save, and the

The Ideal Retirement Benefit Plan for Restaurant Groups

retirement

The restaurant and food industry are behind other industries in offering retirement plan benefits to employees. Plan participation is the lowest of all industries, and average account balances place second to last, according to a 2022 Defined Contribution Plan benchmarking survey conducted by PlanSponsor. Restaurant groups can offer a retirement benefit plan to their employees

Avoiding the Hidden Tax Trap of TI Allowances

TI Allowances

Tenant improvement allowances (frequently referred to as “TI”), are an enticing and common incentive that many restaurateurs and landlords incorporate in their lease agreement because it’s a win-win for both parties. The landlord gets the benefit of someone building out their space and committing to rent it, which will in turn attract future tenants and