Restaurant Industry News

Check out the latest articles, newsletters, and more! 

Articles from The Insider’s Report archives go back over several years. Some articles may include date-sensitive information or other information that has changed over time.
Please consult with your advisor or Kallas Company for updated information or if you have any questions.

COVID-19 and How Kallas Can Help You

Since the beginning of the COVID-19 disaster, Kallas has been sending out E-Blasts informing our clients of programs and strategies for coping with the shut-down.
From mid-April until June, we sent out 22 E-Blasts letting our clients know about the various grant and loan programs, the rules at the time, changes in the rules and strategies for spending the money.

OBSERVATIONS FROM YOUR ACCOUNTANT COVID-19 EDITION

The world has turned topsy-turvy since the second half of March 2020.  The restaurant industry shut down and so did Kallas. Kallas is back up and running at full capacity even though the restaurant industry is still either closed or operating at a limited capacity....

Tax Due Date Adjustments

  Sales tax and Michigan Withholding The state had allowed businesses to delay paying their February, March, and April sales and withholding taxes until June 22 without any penalties or interest. In addition, you may enter into an installment agreement for the...

Michigan’s Workshare Program

During the COVID-19 shut-down, many restaurant owners have started taking advantage of Michigan’s Workshare Program to keep employees working at least part-time. The program pays unemployment benefits to your employee(s) if you have to reduce their hours. This is how...

Long-Term Capital Gains vs Qualified Dividends

Always consult your tax preparer for tax-saving ideas before you sell property at substantial gains. The Tax Cut and Jobs Act which passed at the beginning of the Trump Administration expanded the brackets for capital gains rates and indexed them for inflation.  This...

Payroll Efficiencies Available for Your Operations

Some restaurant operators have down-time during the COVID-19 lock-down and are looking for new ways to streamline their operation. Here are payroll services that Kallas can offer you that have proven to save time and save money. Call Jordan at Kallas ext 119  if you...

Teenage Workers and Key Guidelines

This guide is for employers who hire minor workers. Every employer who hires young workers should know that in general: A work permit is required for minors and can be obtained through the child’s school. In the summer, minors aged 16-17 may work between 6:00 am and...

HOW TO SURVIVE THE COVID-19 SHUT-DOWN – EMERGENCY RECOMMENDATIONS

Since the COVID-19 emergency began, Kallas Restaurant Accounting has been tracking all the relief programs and new law changes for our restaurant clients. There is an overload of information from many different sources and much of it duplicated and some inconsistent. The details of how the various programs work together or are implemented is still being issued over the next few weeks.

But, here are the first steps Kallas Company recommends to help get through the shutdown.

2019 TAX SEASON IS HERE

The 2019 tax season is upon us. And as usual, it means finding bills, accumulating paperwork, thinking about everything you did last year and trying to figure out ways to keep that darn tax bill to a minimum.
Our goal is to make sure you do not pay Uncle Sam any more than necessary.

Read Our Current Restaurant Owner's Newsletter!

Everything the Bar and Restaurant Owner needs to know!

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