RESTAURANT & CAFE ACCOUNTING
Getting the restaurant accounting and tax expertise you need is simple when you use the help of Honest Buck. As a full-service accounting firm, Honest Buck is an expert in accounting and tax preparation for restaurants, cafes, and other food-based businesses. Discover how you can take advantage of a cafe accounting expert to reduce taxes and leverage tax savings.
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Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
Work Opportunity Tax Credit
Small Employer Health Insurance Credit
Small Wares Tax Deduction
Qualified Business Income Deduction
Employer's Annual Return of Tip Income and Allocated Tips
Employee's Report of Tips to Employer
Unreported Tip Income
Tip Allocation Methodologies
Minimum Wage Laws
Meals Provided to Employees
Upfront Payments from Suppliers
Tipping vs. Service Charge
Gift Card Sales
Income From Delivery Facilitators
Liquor License Amortization
Honest Buck in Action
At Honest Buck, we don't just talk about what we do, we show up and deliver. Discover how we've helped a local Seattle restaurant prepare and take advantage of tax savings over the years since its opening:
A streamlined tip allocation process. Allocating tips appropriately is essential when tracking expenses for labor costs in the restaurant industry. But without an organized process, it's easy to lose track of tips. Thanks to our restaurant accounting expertise, we were able to establish a process for tip allocations to help streamline the process.
Practical wage law monitoring. We also helped our restaurant client monitor minimum wage laws effectively.
Effectively reduce taxes. With our expert restaurant tax preparation services, we helped maximize the startup cost deduction and leasehold improvements depreciation for our client. We were able to decrease taxes by enforcing Marketplace Fairness laws on delivery facilitators. We also assisted our client in leveraging the small employer health insurance credit to further reduce its tax liability. As a result of this expertise, we helped our client save on costs over time.
Get Help From a Restaurant Accounting Expert
Ready to get started?
Looking for one of the best accounting services out there with deep restaurant expertise? Leverage a restaurant accounting expert who can help you reduce taxes and more. Contact us at Honest Buck Accounting to schedule an appointment today!