A New Restaurant

I know.  Nothing like pointing out the obvious, but too often taxes are the 500 lb. gorilla in the room.  we all know about, but we hate to bring it up.  Like it or not, it is that time.

Across the country there are restaurant owners huddled over their computers, trying to squeeze an extra dollar or two out of Quickbooks.  My advice on the matter: talk to your accountant!  The tax code is a complex beast, and if you don’t know how to handle that beast, it will hurt you.

There are  deductions you haven’t even thought of, not to mention the ones you did think of that aren’t really allowed.  A good CPA has studied this stuff for years, and has built up a bit of expertise on the subject.  The savings they can give you in found deductions and by avoiding penalties is worth far more than they will charge you.  Not to mention the fact that if your taxes are prepared by a professional, they will help represent you in the event of an audit.

To many business owners will try to save as much money as they can every where they can, but to survive and succeed in restaurants, or any business, it’s not always about pinching pennies, it’s about know where to spend and where to save.  Dealing with the IRS is not the time to try to do it on the cheap.

Don’t risk making a costly mistake that could cost you your business.  Hire an accountant to do your taxes for you.