By Restaurant Practice Leaders | June 01, 2021

BDO Knows SPACs

Restaurants, like other industries, have watched the increase in the creation of Special Purpose Acquisition Companies or SPACs within the marketplace. To date, there have been more SPACs created in 2021 then there were in all of 2020.


By Restaurant Practice Leaders | March 16, 2021

Staffing in the Wake of COVID-19: How Much Has Changed?

Before COVID-19, restaurants had a significant labor challenge, typically referred to as the “talent crisis” or “war for talent.” Unemployment rates were at a five-year low and minimum wage rates were rising across the country. To better define the challenge, there were simply...


By Kari Maue | February 02, 2021

Franchisor Revenue Recognition – New Practical Expedient

Private company franchisors have raised concerns to the FASB regarding the complexity and cost in applying Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). In response, the FASB issued ASU 2021-02, Franchisors—Revenue from Contracts...


By Lisa Haffer | 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...


By Lisa Haffer | January 05, 2021

New Stimulus Relief: What it Means for the Restaurant Industry

Capping a week filled with uncertainty, President Trump finally signed the Consolidated Appropriations Act, 2021 on Sunday December 27, 2020. The new law, which will be referred to as the “Relief Act” or “Act” throughout this article, contains a number of provisions that will...


By Restaurant Practice Leaders | December 23, 2020

New Stimulus Package Passed

Check out the latest insight from BDO on the New Stimulus Package.


By Restaurant Practice Leaders | December 08, 2020

No Surprises in IRS Guidance on PPP Expense Deductibility

In a blow to the restaurant industry, the IRS issued guidance shortly before Thanksgiving that effectively negates the opportunity to claim a 2020 tax deduction for expenses funded with forgivable PPP loans.