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.

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 organization including schools come to eat at your restaurant.  If they present to you a W-9 form showing they are tax exempt, you do not collect sales tax from them nor do you pay sales tax for those sales to the state.

If you discount sales either through coupons or some other program and ring up the un-discounted sales, we can deduct the discounts on your sales tax.

If you give food away or allow employee meals and ring them up, we can deduct those sales from sales tax although there is a use tax on the cost of the meal given away.

If you have any of the above situations and you submit your sales to us without giving us the amount of tax-exempt sales, discounts, and giveaways, here is a way to save some money going forward.

Note that if you submit to us your full sales report each month, we are automatically taking the discounts you are entitled to.

 

If you submit to us your full sales report each month, we automatically take the discounts you are entitled to.

Read Our Current Restaurant Owner's Newsletter!

Everything the Bar and Restaurant Owner needs to know!

Like What You See?

Stay up-to-date and signup to receive our free newsletter.