Archive: restaurant taxes

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Hotel and Restaurant Owners: Renovations Equal Tax Depreciation Deductions

As 2017’s tax year begins to wind down, hotel and restaurant owners will be able to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a hotel and restaurant owner purchases a high quantity of fixed assets, or if a major buildout or refurbishment project for their property is […]
November 22, 2017

“FICA Tip Credit” Gives Restaurant Owners Tax Savings on 2014 Tax Returns

Full service restaurant owners with employees who receive tips from customers have an opportunity to claim a highly favorable federal tax credit on this year’s tax return. Restaurant owners can claim the “Credit for Employer Social Security and Medicare Taxes,” better known as the “FICA Tip Credit.” This tax credit is equal to the Social […]
January 19, 2015