There is still potential for the hospitality industry to capitalize on the evolving market despite challenges the industry faces.
Collecting, Modeling, and Securing Your Restaurant’s Data
The restaurant industry is no stranger to data’s critical role in running a business. Yet, in many cases, the restaurateur struggles to identify the proper data from the sheer volume that may be available through countless sources.
4 Tips for Working With a Resource-Constrained IRS
Federal tax professionals working to resolve issues with the IRS can attest to the multifaceted impacts of the agency’s resource constraints on taxpayer service. The following are some suggested best practices for dealing with the IRS in the current environment.
The Case for Diverse Revenue Streams at Restaurants
A patron speaks with a restaurant host to confirm a reservation or ask if there’s a table available. Ideally, the host calls upon a server, who then leads the patron to a table and takes their order. It’s a system that worked since the dawn of the U.S. restaurant industry — until it didn’t.
Debt Refinancing Transactions: Tax Issues and Opportunities
Debt is an important component of any company’s capital structure since it creates leverage to fund growth without raising capital for every expansion. Although interest rates continue to be historically low, concerns about their potential rise have caused many companies to consider refinancing existing indebtedness to “lock-in” current rates.
What to Do If You’re the Subject of a Sales Tax Audit (and Steps to Avoid One)
If your business is undergoing a sales tax audit or is worried about dealing with one in the future, here are tips to navigate, prepare for, and avoid a sales tax audit.
IRS Increases Mileage Rates Reimbursements for Second Half of 2022
The Internal Revenue Service will raise the optional standard mileage rate for the final six months of 2022 to help offset the rise in gas prices nationwide.
Haven’t Considered the Employee Retention Credit? It’s Not Too Late
One of the biggest struggles businesses face today is finding qualified people to hire while keeping the people they have. That’s why the government came up with some creative ways in 2020 and 2021 to deal with this growing issue, including the Employee Retention Credit (ERC).
From Automat to Automatic: How New Tech Brings Efficiencies to Restaurants’ Back of House
From the drive-through speaker to the QR code menu, restaurant patrons are familiar with the evolution of technology that streamlines front-of-house operations. Though they might not be visible to the average customer, changes underway will impact customer experience.
Are You Up to Date on Travel Deductions as Business Travel Returns?
COVID restrictions have eased, and in-person conferences are back on the calendar. And as more people return to offices, companies are warming to sending their employees on work trips.