By Dustin Minton | January 30, 2018

Expensing Termination Benefits for GAAP Purposes

In the normal course of business, employees may be terminated and given a severance package. It is important to know whether the payments are subject to an existing severance plan, which could be either a written employment agreement or a historical pattern of providing...

By Kari Maue | January 18, 2018

Accounting for Closed Store Lease Obligations

It’s never easy making the decision to close a store, but once the choice is made, it’s important to understand how that decision will impact your GAAP financial statements. One critical factor to consider is the treatment of your remaining lease obligation on the store you...

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 restaurant industry review the changes that...

By Dustin Minton | January 03, 2018

‘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 haven’t already, restaurants must be sure they’re accounting for these gift cards properly.

By Dustin Minton | December 22, 2017

NLRB Reverses Joint-Employer Ruling

With labor being one of the biggest line items on restaurants’ balance sheets, it’s important for operators and employees to stay abreast of the labor regulation decisions made at a federal level. Last week, the National Labor Relations Board reversed a significant Obama-era...

By Restaurant Practice Leaders | December 12, 2017

The Counter: Restaurant Industry Scorecard for Q3 2017

The combination of slow summer traffic and natural disasters dealt a blow to the service sector, particularly the restaurant industry through the third quarter. As a result, restaurants saw a 0.4 percent same-store sales decline through Q3.

By Tanya Erbe | December 11, 2017

Tax Credit Relief In The Wake of Recent Natural Disasters

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.

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 could put restaurateurs under pressure...

By Restaurant Practice Leaders | October 18, 2017

Tips Before Transacting: A Look at Restaurant M&A

The restaurant industry is abuzz with opportunity resulting in new companies emerging and a flurry of M&A activity. If you’re a restaurateur considering a transaction in the near term, there are three key practices to keep in mind.

By Giselle El Biri | September 29, 2017

It’s 5:00 Somewhere: Happy Hour and Your Bottom Line

Happy hour has historically been a great way for restaurants to increase guest counts during slower time periods. But making happy hour profitable while giving guests a great experience can be tricky. To determine if happy hour will work for them, restaurateurs should consider...