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.

2023 Holiday Schedule

Our office will be closed on: Thursday,  November 23 2023 for Thanksgiving. Friday,  November 24 2023 for Thanksgiving. Monday, December 25 for Christmas. Monday, January 1 for New Years. While the phones will be off, some employees may be processing faxed and...

8 Ideas for Refreshing Your Concept

Some restaurants never change.  And for some, that is a good thing. But even tried and true restaurant concepts need refreshing over time. For most, a particular restaurant concept probably will not last forever. Some reasons a restaurant concept might lose popularity...

NEW SMALL BUSINESS REPORTING REQUIREMENTS

NEW BURDEN FOR SMALL BUSINESS CORPORATE TRANSPARENCY ACT; STARTING JANUARY 1, 2024   Starting January 1, 2024 a new mandatory ownership reporting will be required for small businesses (corporations, partnerships and LLC’s). In 2021, Congress passed the Corporate...

10 ESSENTIAL BACK OF THE HOUSE COST CONTROLS

Thanks to Restaurantowner.com for these suggestions.  Go to restaurantowner.com for more excellent information on management tips for independent restaurants. Separate duties of checking in deliveries from counting inventory from paying bills. If you have one person...

HOW LONG SHOULD YOU KEEP RECORDS?

There is no hard and fast rule or law on what records you should keep or how long you should keep them. The general rule is that you should keep all records that would be required so that you can prove your tax returns.  Remember, the burden of proof is on the...

5 IDEAS FOR RETAINING GOOD EMPLOYEES

Hiring new employees and retaining good employees is the biggest problem facing restaurants these days. Hiring new employees and retaining good employees is the biggest problem facing restaurants these days. The pressure of COVID-19 has changed people’s thinking and,...

WE DON’T JUST PREPARE YOUR TAX RETURNS

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...

75 YEARS IN BUSINESS

Kallas Restaurant Accounting celebrates it’s 75th year in business in 2021. Wow! That is a long time. And still going strong to serve your needs. Nicholas Kallas founded the company in 1946. George took over in 1984 and Nicolas Kallas continues today. For 75 years,...

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