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.

CALL EARLY FOR YOUR TAX APPOINTMENTS

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...

LATEST ON ERTC – February 2023

THE IRS IS EXPERIENCING CONTINUED DELAYS ERTC REFUNDS ARE TRICKLING OUT YOU CAN CHECK ON YOUR REFUND AND SPEED THINGS UP The IRS is currently backlogged with millions of unprocessed payroll tax returns.  The backlog is due to the unprecedented amount of Employee...

2022 TAX SEASON IS HERE

The 2022 tax season is upon us.  This year we have additional preparers to help you and the pressure from the PPP loans, PPP forgiveness, grants, unemployment, and major changes to the IRS code has lessened.  We still, of course, anticipate being very busy.  Most...

HOW TO HANDLE THE NEW WAGE INCREASE

As of today’s date, and assuming the Michigan Supreme Court does not change it, a new law called the Improved Workforce Opportunity Act (IWOWA) and the Earned Sick Time Act (ESTA) will go into effect February 20, 2023.  It is certain these two new laws will cause...

2022 Holiday Schedule

Our office will be closed on: Thursday,  November 24 2022 for Thanksgiving. Friday,  November 25 2022 for Thanksgiving. Monday, December 26 for Christmas. Monday, January 2 for New Years. While the phones will be off, some employees may be in the office to process...

BE AWARE OF A NEW LABOR LAW THAT WILL AFFECT YOU

There is a new law that, as it stands now, will go into effect February 19, 2023.  This new law could have dire consequences to the restaurant industry. The “Improved Workforce Act” and the “Earned Sick Time Act” will: Increase the minimum wage to $12 per hour. The...

ACA RULES and NON-KALLAS PAYROLL SERVICE

The bad news is the ACA (Obamacare) rules are still in effect. The ACA requirements for restaurants are complex and time-consuming. Yearly testing is required and if a restaurant or group of commonly owned restaurants meet the IRS defined criteria of 50 employees,...

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