By Giselle El Biri | January 24, 2017

Impairment of Long-Lived Assets: GAAP and Tax Treatment

As restaurant operators well know, things do not always go as planned. For instance, areas where restaurants are operating can become saturated with competition, demographics and target audiences can evolve, or management’s plans may simply change, resulting in a decision to close a location. Under generally accepted accounting principles (GAAP), these situations each represent examples of triggering events which require the performance of an asset impairment test.

By Dennis Hoyt | January 26, 2017

Treasury Considerations for Restaurant Industry

By Dustin Minton | January 05, 2017

Tis The Season for Gift Card Redemption Are You Properly Accounting for Them?

For many restaurants, the holiday season brings a bustle of promotions, parties and gift card sales. Now that the holidays are over and gift cards will soon be spent, if they havent already, restaurants must be sure theyre accounting for these gift cards properly.

By Dustin Minton | December 12, 2016

The Counter: How Did Your Restaurant Fare?

Each quarter, we analyze operating results of publicly traded restaurants to reveal timely benchmarking information for the industry. The Q3 2016 edition of BDO’s The Counter is now live and available for download.

By Dr. Tami Bolder | November 29, 2016

Proposed Regulations May Limit Discounts on Family Transfers – Guidance on IRS Section 2704

Time may be running out for restaurant owners to take discounts on transfers to family members. On August 2, 2016, the Department of the Treasury issued proposed regulations under IRC Section 2704 in response to perceived abuses in the use of valuation discounts. Currently...

By Adam Berebitsky | November 23, 2016

New Overtime Rule Suspended

On November 22, a Texas federal judge issued a nationwide temporary injunction, blocking for now the U.S. Department of Labor’s implementation of its new minimum salary requirement that was scheduled to take effect on Dec. 1, 2016. The new regulation was set to roughly double...

By Restaurant Practice Leaders | November 14, 2016

2016 Year in Review: Tax Planning for Restaurants

As 2016 comes to an end, taxpayers need to be proactive in year-end tax planning. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act), was signed into law in December 2015 and made many changes that are effective with 2016 tax returns.

By Vince Stasiulewicz | November 03, 2016

The Effect of Change in Control Transactions on Financial Reporting

M&A activity reached record levels in 2015 with deal volume reaching $4.9 trillion—and the momentum shows no signs of slowing. Within the restaurant industry, it seems much of this M&A activity is driven by the market’s saturation and private equity investors turning their...