Archive: Hospitality

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Restaurants and Hotels Should Weigh the Pros and Cons of the PPP Loan Versus the Employer Retention Credit Before May 14th

As congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act and signed into law by the President on March 27, 2020, one of the measures within the bill that has gained the most attention is the Paycheck Protection Program (PPP). The PPP loan program was designed to ease some of the economic hardship […]
May 8, 2020

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

Donate Food Inventory During Epidemic and Claim Sizeable Charitable Deductions

As the coronavirus (COVID-19) outbreak continues to spread, restaurants are being restricted to carryout and delivery service, while many others are closing their businesses entirely during this period. As a result, much of restaurants’ food inventory may spoil and end up getting trashed. Restaurant owners should strongly consider donating their food inventory to a charitable […]
March 19, 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

“Joint Employer” Regulations to Impact Hospitality Owners

The U.S. Department of Labor announced a final rule that interprets joint employer status under the Fair Labor Standards Act (FLSA). Under the FLSA, an employee may have one or more joint employers that will require the covered employers to pay their employees at least the federal minimum wage for every hour worked and overtime […]
January 21, 2020

Renovations Placed in Service Provide Tax Deductions for Hospitality Business Owners

As 2019’s tax year begins to wind down, restaurant, hotel, and food distribution owners have the opportunity to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a business owner purchases a high quantity of fixed assets or a major buildout, or if a refurbishment project for their […]
December 13, 2019

Expanded Overtime in 2020 to Impact Hospitality Owners

The U.S. Department of Labor has issued a final rule under the Fair Labor Standards Act (FLSA) that will expand overtime pay. This is the largest increase to the salary threshold eligible for overtime since 2004. Effective January 1, 2020, the new overtime rule will implement a substantial increase to the FLSA’s previous salary level […]
November 25, 2019

Aaron Boker Served on a Panel about Driving ROI in the Hospitality Industry

Aaron Boker served on a panel about driving ROI in the hospitality industry at the Bisnow Hotel Leadership, Investment & Management Summit on October 30th. The hospitality industry is one that evolves and constantly re-thinks the question: who do we want to be for our customers, and how do we ensure they keep coming back? Experiences, […]
October 30, 2019

Social Security “No Match” Letters Are Back and Shouldn’t Be Taken Lightly

In March 2019, the Social Security Administration (SSA) announced that it will begin to notify employers if a wage and tax statement (Form W-2) contains a name and Social Security number (SSN) that does not match the SSA’s official records. The issuance of “no match” letters is not a new practice. The SSA began sending […]
April 29, 2019

Wage Hike for D.C. Servers, Bartenders Gets Repealed: What Restaurant Owners Need to Know

On October 23, D.C. Mayor Muriel Bowser signed legislation to overturn Initiative 77, which would have established a higher minimum wage for service workers who rely on tips for the majority of their incomes. This move comes after the D.C. Council voted 8-5 in favor of the repeal the week prior, as well as after […]
November 6, 2018