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

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...

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...

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...

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...

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...

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...