Apr 1, 2020 | Article | Tagged: Operations
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.
Feb 1, 2020 | Article | Tagged: Tax Tips
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.
Feb 1, 2020 | Article | Tagged: General Interest
The Affordable Care Act (ACA) is still with us and a big administrative pain for large restaurants and restaurant chains.
Feb 1, 2020 | Article | Tagged: Business Tax
Grubhub and Uber Eats both are changing their procedures regarding sales tax reporting and paying. Previously, Grubhub and Uber Eats made the restaurant responsible for paying sales tax on its sales.
Feb 1, 2020 | Article | Tagged: Operations
Interchange Fess AntiTrust Litigation
There has been a class-action suit filed against Visa, Mastercard and Defendant Banks for over-charging on their fees. A new settlement has been reached and all eligible merchants including restaurants and bars could be eligible for a share of the settlement. The settlement is between $5.5-6.2 billion.
When a cardholder makes a purchase of food or beverage at your restaurant or bar using a credit or debit card, there is an interchange fee charged to the merchant by the bank. The fee is usually 1-2% of the purchase price including tips.
If you took Mastercard or Visa during the years January 1, 2004 and January 25, 2019, you would be a potential claimant.
Feb 1, 2020 | Article | Tagged: Business Tax
This is an important question. How you are organized for tax purposes can make a big difference in how much you pay.
Feb 1, 2020 | Article | Tagged: Employment Law
The Affordable Care Act (ACA) is still with us and a big administrative pain for large restaurants and restaurant chains.
It appears that the IRS is stepping up enforcement actions.
Feb 1, 2020 | Article | Tagged: Business Tax
Taxes consume the biggest portion of most people’s current earnings and future retirement income. Our job at Kallas Company is to help you maximize tax savings and help you create future wealth. For the greatest savings over time you need to plan ahead. Call us...Feb 1, 2020 | Article | Tagged: Operations
Kallas Restaurant Accounting has added Michael R. Kramb, CPA to our staffing resources. Michael has a strong history in the restaurant industry. He has worked as a controller for two well-known independent restaurant chains as well as owning his own restaurant....
