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.

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...

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...

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...

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...

2021 TAX SEASON IS HERE

Again, like last year, all the time consuming issues related to COVID-19 are going to be a challenge.With the fall-out from COVID-19, forced closures, PPP loans, PPP forgiveness, grants, unemployment, and major changes to the IRS code, we expect to be very busy....

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...

2021 PERSONAL INCOME TAXES

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 us before you sell stocks, sell your business, buy a business, or make any substantive changes to your...

PPP FORGIVENESS STATUS AS OF AUGUST 1

Many recipients of PPP funds forget that the PPP must be forgiven otherwise is becomes a loan and has to be paid back. You have 24 weeks from the day the funds were deposited in your account to spend the funds and submit your request for forgiveness. Don’t forget that...

FINANCIAL HELP – WHAT IS STILL AVAILABLE TO YOU?

There is still some limited monies available to help a restaurant owner fund operations. First and 2nd round of PPP is not available any more. The ERTC (Employee Retention Tax Credit) is available through the end of 2021.  If you haven’t signed up with Kallas to...

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