Restaurant Industry News

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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.

IMMIGRATION REVISES I-9 FORM

A new Form I-9 is required starting November 1, 2023. The I-9 Form is a United States Citizen and Immigration Services form that is required to be completed for every new employee you hire. The form is used to verify the identity and legal authorization to work in the...

TAX ADVANTAGED SAVINGS FOR CHILDREN AND GRANDCHILDREN

  If you are a parent or grandparent who is thinking ahead and wants to save money for their minor children and grandchildren there are a few ways to save that come with some tax benefits  The easiest way to save money for a child or grandchild is to set up a...

10 TIPS FOR PORTION CONTROL

The very best restaurants adhere to strict portion controls.  Portion controls enhance consistency and reduce losses from waste. Here are some simple tips to control portions: Establish recipes.  Restaurant recipes have two purposes:  to ensure consistency and control...

PAYMENTS TO IRS GETTING LOST

We are experiencing increasing “lost” payments to IRS mainly pertaining to payments for Income Taxes. Payroll and business tax payments are being made without a hitch but Estimated Tax Payments and payments due on your personal tax returns seem to be disappearing into...

THIS IS THE TIME OF YEAR TO CHECK YOUR TAX SITUATION

YOUR ESTIMATED TAXES MAY HAVE TO BE ADJUSTED 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 profits and losses from your business can cause your taxes to...

KALLAS GETS MICHIGAN RESTAURANT ASSOCIATION AWARD

We Are the MRLA Feature: Kallas Restaurant Accounting Your favorite accounting firm recently received an award from the Michigan Restaurant Association for 41 years as a member.  MRA President, Justin Winslow is seen in this picture handing the plaque to George Kallas...

IRS IS STILL FAR BEHIND IN PROCESSING TAX RETURNS

WHAT IS GOING ON OVER THERE? We have been experiencing long delays in responses from IRS regarding amended returns, correspondence, ERTC refunds and paper filed returns. This could effect you if you have an IRS problem that needs to be resolved or if you are waiting...

FREE MONEY STILL AVAILABLE

ERTC BENEFITS STILL OPEN  If you haven’t applied for your ERTC (Employee Retention Tax Credit) refunds or you know someone who still hasn’t applied, give us a call at Kallas.  The second, third and fourth quarter of 2020 is still open for refunds and the first, second...

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