Finance

Implementing the New Accounting Lease Standard: What Restaurants Need to Know

Posted In: Finance, Restaurant Industry News, Restaurant Operations, Tax + Accounting,

Sep 13

The COVID-19 pandemic has significantly impacted restaurants due to mandatory restaurant closures, capacity limitations, social distancing...

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EIDL Opportunity to be Released by SBA

Posted In: COVID-19, Federal Legislation, Finance, GRA News, Grants + Support Programs, Legislation, NRA, Restaurant Industry News,

Aug 30

This week, the National Restaurant Association urged the U.S. Small Business Administration (SBA) to release plans improving the Economic Injury...

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IRS Confirms Tips are Eligible Wages for ERTC

Posted In: ERTC, Federal Legislation, Legal + Regulatory, Tax + Accounting,

Aug 6

Source: Aaron Frazier, National Restaurant Association IRS Confirms Tips are Eligible Wages for ERTC In positive news for restaurants accessing...

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SBA Announces Opening Of Paycheck Protection Program Direct Forgiveness Portal

Posted In: CARES Act, Grants + Support Programs, PPP, Tax + Accounting,

Jul 28

SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal New portal will streamline applications for loans $150K...

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Take a tax break for hiring the unemployed

Posted In: American Rescue Plan, ERTC, Federal Legislation, Tax + Accounting,

Jul 14

The Work Opportunity Tax Credit can help offset your hiring costs

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ERTC for small business expanded to include all of 2021

Posted In: American Rescue Plan, ERTC, Federal Legislation, Tax + Accounting,

May 3

The American Rescue Plan Act extends the Employee Retention Tax Credit to Dec. 31. While there hasn’t been a lot of good news for restaurants...

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Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurants

Posted In: Federal Legislation, Tax + Accounting,

Apr 8

Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurantsBusinesses can temporarily deduct 100% beginning...

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Alert: IRS Releases Guidance on the Employee Retention Credit for PPP Borrowers

Posted In: ERTC, Tax + Accounting,

Mar 12

March 12, 2021 | Blog, COVID-19 Strategy Hub | Bert Mills, CPA; Andy Starnes, CPA; and Chris Arnone, CPA Disclaimer: This...

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IRS Issues 2020 Guidance for Employee Retention Tax Credit

Posted In: ERTC, Federal Legislation, Tax + Accounting,

Mar 2

Sources: Aaron Frazier (Director of Healthcare and Tax Policy, National Restaurant Association); Internal Revenue Service (IRS) The Internal...

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New tax credit rule can gain you up to $19K per restaurant employee

Posted In: ERTC, Federal Legislation, Tax + Accounting,

Feb 23

Stan Harris, LRA president and CEO, weighs in on the tax law changes that could provide restaurants with big credits. The Taxpayer...

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Restaurant operators do not expect a rapid return to normal

Posted In: COVID-19, Financial Forecasting, NRA,

Feb 22

Six in 10 operators think it will be at least 7 months before business conditions return to normal for their restaurant. Although eating and...

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Smith & Howard Answers to Your ERC Questions

Posted In: ERTC, Federal Legislation, Tax + Accounting,

Feb 8

Smith & Howard is helping clients navigate changes made to the Employee Retention Credit (ERC) as a result of the Consolidated Appropriations...

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