With over 30 years of industry experience providing tax and accounting services to clients ranging from large fine-dining establishments to franchises and caterers, we understand the challenges business owners face and know that operating a successful restaurant can be overwhelming.
Our professional team is intimately familiar with tax laws specific to the restaurant industry, commonly used forms and notices, and day-to-day food service operations. We can answer your questions about tip reporting, food and liquor costs, sales tax audit, and much more. Because we know the industry and are dedicated to consistently educating ourselves on industry trends, we work with you to help mitigate your tax burden and improve your bottom line.
If you’re like many self-employed business owners, you may be tempted to stick to the tried-and-true tax deductions (your home office, if you have one, office supplies, mileage, meals, etc.) when doing your taxes. However, one important money-saving advantage of working with a tax professional is they can identify lesser known deductions that you may be entitled to, but are unaware of.
Now that President Trump has signed the new tax law, it’s time to look at how the new changes to the tax code, also known as the “Tax Cuts and Jobs Act,” may impact individuals and businesses. Below is a summary of the major changes that may impact you:
With the Tax Cuts and Jobs Act reportedly headed for the President's desk shortly, you may be asking what you can do before year-end to best position yourself for tax savings, and to avoid or soften the impact of disappearing deductions. The following offers year-end moves that can accomplish those goals.