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.

IRS Warning of Higher Penalties

The IRS has increased penalties again for late or non-filed 1099 or W-2’s For the last few years, the IRS has been ratcheting up its effort to match all income from whatever source to personal tax returns.  The reason is obvious.  Audits are easier and income that may...

New Photo App Saves Time

NOT EVERYTHING OUT THERE IS WORTHWHILE Seems like every day some new technology is being introduced to the restaurant industry. Kallas spends a good amount of time from May to November each year testing and evaluating restaurant-related software applications to see if...

This is the Time of Year to Assess Your Tax Situation

DO YOU NEED TO START PAYING OR INCREASING YOUR ESTIMATES? HOW WILL THE 20% QBID DEDUCTION EFFECT YOU? Restaurant owners and other business owners have to pay attention to their tax situation more than other taxpayers.  Your income can vary from year to year and...

3 Tax Benefits You May Not Be Getting

In prior years the home office deduction was somewhat risky. The IRS seemed to audit that deduction frequently and there were complications due to apportionment of expenses between personal and business and depreciation on your home.

Form I-9 Compliance

FROM THE DEPARTMENT OF “HOW TO MAKE THE SMALL BUSINESS OWNER SUFFER EVEN MORE” Last month, I had to refer one of my well established, long-time clients to an immigration attorney. He got hit with a $141,000 penalty from Homeland Security. What was his sin?  He did not...

The Purchasing Cycle – Accounting Cycle for Restaurants

WHAT NEEDS TO BE ACCOUNTED FOR IN YOUR RESTAURANT BE AWARE OF WHAT IS REQUIRED Restaurant owners rarely know how much accounting is required to run their restaurant.  Naturally, they just assume that the accountant “just handles it.” But does the accountant really...

Please Help Us To Help You

PERSONAL TAX EXTENSIONS GOOD ONLY UNTIL OCTOBER 15, 2019  A lot of bad things can happen if you wait until the last minute. According to the IRS, filing an extension beyond the filing deadline of April 15 is a privilege. Sometimes you cannot help but extend filing if...

The Sales Cycle – Accounting Cycle for Restaurants

WHAT NEEDS TO BE ACCOUNTED FOR IN YOUR RESTAURANT BE AWARE OF WHAT IS REQUIRED Restaurant owners rarely know how much accounting is required to run their restaurant.  Naturally, they just assume that the accountant “just handles it.” But does the accountant really...

Make Sales Tax Time Less Demanding

Paying sales tax each month has always been a hassle.  Restaurant owners have enough responsibilities running a restaurant.  Being available at sales tax time to cut a check and mail it on time is just another burden.  Kallas Restaurant Accounting can take that burden...

Read Our Current Restaurant Owner's Newsletter!

Everything the Bar and Restaurant Owner needs to know!

Like What You See?

Stay up-to-date and signup to receive our free newsletter.