Archive: food

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How Hospitality Owners Can Preserve Cashflow During COVID-19

The coronavirus (COVID-19) outbreak has had an immediate impact on businesses and more repercussions are to come, particularly for restaurants, hotels, food distributors, retailers, and other vendors that service the hospitality industry. Below are some potential solutions that can assist hospitality owners with cashflow in the coming months. Defer Tax Payments Both the federal and […]
March 25, 2020

Tax Credits Available to Hospitality Owners for Hiring Employees from “Targeted Groups”

As labor costs continue to rise for most hospitality owners, as well as employers in other industries, there is a tax credit available that can assist in mitigating some of the labor costs to the business owner. The Work Opportunity Tax Credit is available to business owners on qualified first- and/or second-year wages that are […]
March 6, 2020

Purchasing Meals as a Tax Exempt Entity in VA, What you Need to Know

Virginia Changes Sales Tax Policy on Meals Purchased by Tax Exempt Entities – Effective as of April 22, 2016, a change in policy by the Virginia Department of Taxation allows state and local governmental entities, nonprofit organizations, and nonprofit churches in Virginia to purchase prepared foods, catering, and related services without paying Virginia sales tax. Caterers […]
May 10, 2016