Category: Hospitality
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What Restaurant Operators Should Know About the Common Cents Act
Learn how the Common Cents Act may affect restaurant cash transactions, point-of-sale systems, employee training, and customer payment processes.
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Reducing your payroll burden with FICA tip credit
This valuable tax break helps hospitality businesses offset payroll tax costs for tipped employees, yet it’s often underused. Learn how to calculate and claim this dollar-for-dollar credit to reduce your tax burden and maximize savings.
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IRS Form 8027: What restaurant owners need to know
Learn the guidelines and calculations to determine if your restaurant is required to file IRS Form 8027, and get tips to avoid any compliance issues.
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Tip credit rule voided: What it means for tipped workers (and their employers)
BeachFleischman recaps the recent U.S. Court of Appeals decision overturning the Department of Labor's 80/20 tip credit rule under the FLSA. Learn how this ruling simplifies compliance for businesses with tipped employees and reduces the need for tracking non-tipped work. Stay updated on tip credits, taxes, and minimum wage laws.
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Is your company ready for year-end inventory counts?
For retailers, manufacturers, and many other businesses, a significant amount of working capital is tied up in inventory. A year-end physical count of raw materials, work-in-progress, and finished goods is essential.
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Businesses with employees who receive tips may be eligible for a tax credit
Owners of restaurants and bars have had a rough couple of years due to the pandemic. Keep in mind that employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.