By Restaurant Practice Leaders | April 20, 2021

New Guide Now Available for the Restaurant Revitalization Fund

On April 17, 2021, the SBA released a program guide and a sample application form for the Restaurant Revitalization Fund (RRF) authorized under the American Rescue Plan Act (ARPA). Although the SBA hasn’t announced when they will start to accept applications, every indication is that the process will begin in the very near future.

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.

By Restaurant Practice Leaders | December 03, 2020

Three Post-Election Legislative Impacts on Restaurants

With the 2020 election in the rearview mirror, businesses are looking forward to beginning 2021 with more clarity. Restaurants are particularly keen to understand what new legislative developments may have passed or are on the horizon as they continue to navigate the acute...

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...