posts tagged as Business Tax

Established by the Tax Cuts and Jobs Act, the new limitations on business interest deduction may affect restaurants’ taxable income. read more

On December 22, 2017, the conference version of the tax reform bill was signed into law, marking the largest change to U.S. tax policy in decades. With most of the provisions set to go into effect in 2018, it’s important that the... read more

The restaurant industry was hit hard by Hurricanes Harvey, Irma and Maria. Certain employers that were rendered inoperable and are located in a federally-declared disaster zone may be eligible to claim an employee retention credit. read more

Late last week the House of Representatives unveiled a first draft of the long-awaited tax reform bill, the Tax Cuts and Jobs Act (TCJA). In the legislation’s current state, the repeal or rollback of several key credits and incentives... read more

Today the average family’s schedule is faster-paced than before. As traditions around the dinner table reflect that change, the restaurant industry is growing at staggering rates. For new restaurant concepts entering the market, it is... read more

As Congress turns its attention to tax reform, it’s clear they’re taking legislation off the backburner and turning up the heat. Though it looks like an overhaul may be starting to simmer, don’t make any major tax planning changes until... read more

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... read more

There are many misconceptions that lead to tax reporting errors in the restaurant business. We often receive questions or overhear comments from restaurant owners, operators and CFOs about practices that seem normal, but often lead to... read more

In late February, the IRS made available a new Publication 5125, Large Business & International (LB&I) Examination Process, which is effective beginning May 1, 2016. read more

The IRS’s Large Business & International (LB&I) Division, which covers corporations, S corporations and partnerships with assets greater than $10 million, recently announced that it would be implementing significant... read more