There are three financial statements that you should review regularly to help you determine your restaurant’s profitability. The Balance Sheet The balance sheet is a point-in-time snapshot of your assets and liabilities. Your assets are split into two categories: current…
There are several mistakes new owners make when starting a new restaurant. The following five mistakes are the ones that we see the most often: Not having enough start-up capital. Restaurants require a lot of capital. You’ll need capital to…
The Department of Labor issued proposed new guidelines for determining when a restaurant franchisor can be held responsible for the labor policies and practices of franchises. “We know restaurant franchise owners are particularly watchful of the proposed guidelines,” says Carol…
Promotions in the Mize Restaurant Group, which provides restaurant accounting and consulting services to independent and quick service restaurants nationwide, include: Tyler Beiker, CPA is promoted to QSR Accounting Services Associate Manager. Tyler provides accounting services to McDonald’s Owner/Operators and…
Before you decide to pass your restaurant on to your children, make sure you have taken all the steps necessary to make the transfer to the next generation a smooth one. Andrew Spikes, CPA, shares his insight on the transfer…
Federal government employees aren’t the only ones shouldering an extra load during the federal government shutdown. Employers are taking on the burden of trying to keep track of Forms I-9 that need to be completed or updated despite no access…
Kerri S. Reisdorff, an employment attorney with Ogletree, Deakins, Nash, Smoak & Stewart, P.C., talked to us about the importance of having up-to-date employee handbooks at your restaurant. Mize Houser: “Kerri, restaurant owners don’t always believe that having employee handbooks…
For a restaurant owner, hiring talent is an ongoing challenge. How you hire is just as important who you hire. Chris Wunder, Vice President with Leap Hospitality based in Kansas City, recruits talent for local and national restaurants. From general…
If you’ve been around the business world in the last 20 years, the topic of mismatch notices may be familiar to you. A quick search on “Google” and you will find other instances when the Social Security Administration (SSA) announced…
We’re heading into the holiday season and many companies provide extra goodies to employees at this time of the year. Don’t forget that what seems like a gift may actually be considered compensation by the IRS. IRS Publication 15-B goes…