Five Mistakes New Restaurant Owners Make
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.…
TCJA Changes Transportation Fringe Benefits for Businesses and Nonprofits
The Tax Cuts and Jobs Act of 2017 significantly reduced the ability of a business to deduct the cost of transportation fringe benefits provided to their employees, unless the annual…
Research credit available to some businesses for the first time
The Tax Cuts and Jobs Act (TCJA) didn’t change the federal tax credit for “increasing research activities,” but several TCJA provisions have an indirect impact on the credit. As a…
Year-End Tax Planning for Restaurants in the Wake of the Tax Cuts and Jobs Act
Carol Casale, CPA/ABV, CVA The Tax Cuts and Jobs Act may prove to be historically influential legislation for the restaurant industry. While it’s true that some restaurant owners will benefit…
Do you qualify for the home office deduction?
Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and…
TCJA changes to employee benefits tax breaks: 4 negatives and a positive
The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not…