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.

Long-Term Capital Gains vs Qualified Dividends

Always consult your tax preparer for tax-saving ideas before you sell property at substantial gains. The Tax Cut and Jobs Act which passed at the beginning of the Trump Administration expanded the brackets for capital gains rates and indexed them for inflation.  This...


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.

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.

Tax Planning Now More Important Than Ever

Small businesses can reduce their tax bills significantly. Huge Opportunities if planned properly! The new tax law which begins January 1, 2018, includes many opportunities and significant benefits for small businesses. The law fundamentally changes many of the tax...

Your Tax Returns – We Do More Than Just Preparing

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...

Health Insurance for S-Corp Shareholders

S Corporations have always had unique issues with respect to health insurance for owners. The Affordable Care Act (ACA) created more complexity for S Corporation owners. Here are the basic rules: Group health insurance non-discriminatory plans that cover all eligible...

Foreign Reporting Requirements for U.S. Taxpayers

DO YOU HAVE A FOREIGN BANK ACCOUNT OR INCOME PRODUCING PROPERTY? In the past several years, the IRS has been vigorously pursuing taxpayers who fail to comply with foreign reporting requirements.  The IRS has instituted banking treaties with almost all sovereign...

Tips to Lower Your Sales Tax

Kallas bookkeepers and tax preparers are trained to look for every dollar we can to reduce your taxes. One way to reduce sales tax is to deduct tax-exempt sales, discounts, and giveaways. Tax-exempt sales are allowed when a charitable organization or a governmental...

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