posts tagged as FICA

By Restaurant Practice Leaders | January 12, 2018

How Tax Reform Will Impact Restaurants

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

By Restaurant Practice Leaders | November 08, 2017

Tax Reform’s Potential Impact to Restaurants

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

By Adam Berebitsky | July 27, 2017

Turning Tax Reform on High Heat

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

By Lisa Haffer | 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... read more

By Restaurant Practice Leaders | October 03, 2016

Nine Questions Brewery Owners Should Ask Their CPAs: Part 1

Do you own a brewery and have a question that you think may be outside of your CPA’s scope of knowledge? Do yourself a favor and just ask! From research and development (R&D) to trademarking advice, your CPA can provide insights into... read more

By Jeff Tubaugh | July 19, 2016

Minimize Tax Reporting Errors by Avoiding These Common Myths

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

By Restaurant Practice Leaders | November 20, 2015

Event Recap: Restaurant Finance & Development Conference

Last week, our team attended Restaurant Finance Monitor's annual Restaurant Finance & Development Conference, where we spent three days connecting with industry colleagues about all things restaurant finance, operations and... read more

By Lisa Haffer | June 01, 2015

FICA Tip Credit under Fire on Capitol Hill and the White House

It's no secret that there's gridlock in Washington, but a Congressman and the White House have come together to agree on one issue: repeal of the FICA tip credit (IRC section 45B) as part of larger tax reform packages. read more

By Lisa Haffer | May 21, 2015

Tax Considerations Related to Tips vs. Service Charges

The recent IRS rules that redefined tips and service charges are still generating a great deal of questions from restaurants. Understanding how to implement these new rules when it comes to catering and delivery can be challenging. read more

By Restaurant Practice Leaders | May 07, 2015

Tax Opportunities on Tap for Breweries and Brewpubs

Craft brewers have evolved from specialty producers into major players in the food and beverage industry, producing 22.2 million barrels of beer in 2014. read more