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Category: Restaurants & Breweries

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May 13, 2019
Should You Buy or Lease Business Equipment?

Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But...

April 1, 2019
Fraud Fact – Crooks Prefer Cash

It should come as no surprise that cash is the most popular target of fraud perpetrators. After all, once stolen, cash itself is virtually untraceable. But that doesn’t mean forensic accounting professionals can’t unearth cash fraud schemes — and the crooks behind them...

March 20, 2019
Use an Implementation Plan to Make Strategic Goals a Reality

Strategic planning comprises two primary tasks: establishing strategic goals and achieving them. Many business owners would probably say the first part, coming up with objectives, is relatively easy. It’s that second part — accomplishing those goals — that can really c...

February 22, 2019
Keep Fraud Off Your Restaurant’s Menu

In the restaurant industry, where long hours and thin profit margins are the norm, owners and managers often lack the time and resources to focus on fraud. Unfortunately, restaurants can provide crooked employees, customers and vendors with plenty of opportunities to steal. ...

February 18, 2019
Update on the New Business Interest Expense Limit Rules

The Tax Cut and Jobs Act imposed a new limitation for business interest expense.  Interest expense for the year is limited to 30% of adjusted taxable income plus any floor plan financing interest paid by vehicle dealers under new code section 163(j)(1).  This limitation ap...

February 18, 2019
Best Practices When Filing a Business Interruption Claim

Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally provides the cash flow to cov...

February 12, 2019
Use SWOT to Refine Your Strategic Plan

With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic...

January 29, 2019
Clarification on Parking Lot Tax

One of the changes made to the tax laws by the Tax Cuts and Jobs Act (TCJA) was to disallow a tax deduction for qualified transportation fringe benefits businesses provide to their employees. Qualified transportation fringe benefits (QTFs) include:...

January 29, 2019
First Signs of Business Fraud

Forensic accountants are best qualified to unearth the “hows and whys” of occupational fraud. But it’s up to employers to know when it’s time to call for professional help in the first place. The signs of fraud can be easy to miss, but they’re usually there....

January 23, 2019
Is Your Marketing Plan Working?

A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your company. But, all too easily, a business can get stuck in the mud while trying to build these thoroughfares, leaving its marketing message ...

December 31, 2018
Funding a Business With Your IRA – Be Cautious

Consider this situation: A business owner thought an IRA was his money and he could use it to fund his start-up business. Instead, he had his entire IRA disqualified and he was forced by the appellate court to pay substantial penalties and a massive tax bill....

November 26, 2018
Estimates vs Actuals – Was Your 2018 Budget Reasonable?

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your ...