By Restaurant Practice Leaders | January 11, 2021

Significant Enhancements to the Employee Retention Tax Credit (ERTC): Maximizing the ERTC in 2020 and 2021

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a variety of economic relief measures applicable to the restaurant industry, including the Paycheck Protection Program (PPP) and the Employee Retention Tax Credit (ERTC). Under the CARES Act, businesses could take advantage of either the PPP or the ERTC, but not both. In welcome news for restaurants, the Relief Act retroactively eliminates this limitation and extends and enhances the ERTC through the first two quarters of 2021.

By Lisa Haffer | October 05, 2020

Final Meal and Entertainment Regulations: A Victory for the Restaurant Industry!

On September 30, 2020, the IRS issued final regulations relating to the limitation on tax deductions for meals and entertainment expenses. The regulations confirm that entertainment expenses are not deductible, but leave the door open for partial or full deductibility of meal...

By Larry Borgman | September 10, 2020

Evaluating Going Concern in the era of COVID-19

The COVID-19 pandemic has created unprecedented uncertainty across the restaurant industry. Restaurants have experienced a significant disruption in consumer demand resulting in reduced operations, cash flows and liquidity concerns. As COVID-19 continues to evolve, restaurants...

By Restaurant Practice Leaders | August 05, 2020

SBA Releases PPP Forgiveness FAQs

On August 4, 2020, the SBA issued long-awaited guidance pertaining to PPP loan forgiveness. The guidance, in the form of FAQ, covers three main topics: payroll costs, nonpayroll costs, and loan forgiveness reductions. Check back soon for additional restaurant-specific insights...

By Robert Brown | July 15, 2020

The New Drive-Thru Option for Restaurants During COVID-19

The COVID-19 pandemic has changed everything in the restaurant industry, and while those establishments with a drive-through option were able to continue semi-normal operation, it is was the entire dine-in restaurant industry that was forced into new reality as they shuttered...

By Restaurant Practice Leaders | July 07, 2020

The Impact of the CARES Act on Site Selection

One of the provisions of the CARES Act, passed in March, could have a significant positive impact on companies that are in growth mode and planning additional locations. While many recognize that the correction of the ‘retail glitch’ (as many in the media call it) benefits...

By Restaurant Practice Leaders | June 22, 2020

PPP Salary Limitation Clarification and Revised Application

As expected, since the passage of the PPP Flexibility Act, the Small Business Administration continues to release additional guidance. On June 17, 2020, guidance was provided relating to payroll cost limitations due to changes to the covered period. In addition to this new...