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.

Another Outrageous Gotcha Tax

Business owners face many tax traps and what I call “Gotcha” taxes.  Gotcha taxes are obscure laws that even the most conscientious owners could not anticipate or account for but still end up paying for. I have written in the past of other Gotcha taxes like the late...

Beware “Back-Up Withholding” Trap

Have you ever received a form called an W-9?  W-9’s are sent to you usually by someone you do business with like a vendor, bank, or merchant credit card processing company asking for your federal identification number and other information such as your address and...

Warnings for S-Corporations and LLCs

A new penalty for late filed S Corporations and partnership LLC’s was created starting with the 2009 tax year and continues to present. I use this newsletter to remind taxpayers about this penalty because the penalty is severe. $195 per shareholder or partner per...

Top 10 Red Flags for New Restaurants

After 40 years advising new restaurant owners, I have come up with 10 of the most common red flags that increase the risks of failure. Not having a good idea of the type of customer you want to draw and the corollary; not providing an appealing experience for that...

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