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.

YOUR ERTC PACKAGE

Mar 12, 2021 | Article

We know it has been a tough year and many of you are busy with reopening your restaurants, hiring, and all the other things you have to do for your restaurant. Kallas is working hard to support you and get you large amounts of Free money as fast as possible but we...

SUMMARY OF COVID-19 RELATED CHANGES THIS YEAR

Feb 1, 2021 | Article | Tagged:

2020 was a tumultuous year.  Beyond anyone’s imagination.  Who could have ever imagined that the entire restaurant industry would be shut down? With all the bad, there was much in the way of government programs that were good. It has been a full-time job just keeping...

RESTAURANT BEST PRACTICES

Feb 1, 2021 | Article | Tagged:

CASH HANDLING Make sure there is only one manager in the safe during each shift. Incoming and departing managers should both verify the count and report any discrepancies. Cashiers should always count their cash drawer before accepting it and sign off. Only the...

WE DON’T JUST PREPARE YOUR TAX RETURNS

Feb 1, 2021 | Article | Tagged:

Throughout the year we pick up new clients – many from other accountants.  We always review the prior work to see if there is anything that was missed or can be done to better your situation. One of the recurring things we notice is that many accountants and tax...

New 2021 Michigan Minimum Wage**

Nov 1, 2020 | Article | Tagged:

** Please note:  Per Michigan Law, if the State Unemployment rate for 2020 is 8.5% or higher, the minimum wage increase may be delayed or cancelled. As of November 1, 2020 the State has not determined the 2020 unemployment rate.  Stay tuned for more information on...

ACA Penalties and Requirements

Nov 1, 2020 | Article | Tagged:

YOU DIDN’T OFFER HEALTH INSURANCE?  HERE IS YOUR $100,000 PENALTY The IRS has not forgotten about Obamacare (ACA).  The IRS is sending letters to restaurants and proposing penalties in the tens of thousands of dollars unless you can prove that you complied with the...

Latest COVID-19 Related News

Nov 1, 2020 | Article | Tagged:

Michigan state government has established one of the most restrictive COVID-rules and regulations for businesses in the country – especially for the restaurant industry. On Monday, November 2, new rules went into effect requiring food businesses to take down...

Don’t Forget to Apply for PPP Forgiveness

Nov 1, 2020 | Article | Tagged:

You must request and be granted forgiveness for any PPP loan you obtained otherwise you will owe the money back. It is not an easy process.  Instruction issued at the beginning of the PPP loan process have been changed and the forms required to be submitted have...

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