More than Accounting Resources Available
Kallas Restaurant Accounting has added Michael R. Kramb, CPA to our staffing resources. Michael has a strong history in the restaurant industry. He has worked as a controller for two well-known independent restaurant chains as well as owning his own restaurant....New Michigan Minimum Wage – January 1, 2020
The new rate effective January 1, 2020 is $9.65 per hour. Employees who regularly receive tips may be paid $3.67 per hour as long as that person is claiming at least $5.98 in tips per hour. The law also allows a Michigan employer to pay minor employees (aged 16-18)...Introducing Accounting Software: Restaurant365
Specialized Software For Restaurants For over 40 years myself and Kallas Company have provided accounting, tax and payroll services exclusively to independent restaurant owners. So, naturally we are highly attuned to any improvements in software or procedures that...Generous Tax Credit May Be Available
The WOTC (Work Opportunity Tax Credit) can be used to reduce your taxes.
It is a Federal credit calculated off your payroll and is based on you hiring certain hard to employ target groups.
If you hire a person who belongs to one of the groups, you can obtain the credit
ACA Still Around
YOU DIDN’T OFFER HEALTH INSURANCE? HERE IS YOUR $100,000 PENALTY
REMINDER UPDATE ON WHAT YOU NEED TO DO
The IRS has not forgotten about Obamacare (ACA).
The IRS is sending letters to restaurants and proposing penalties in the tens of thousands of dollars unless you can prove that you complied with the rules.
2019 ACA Timeline
AFFORDABLE CARE ACT (OBAMACARE) SERVICE TIMELINE FOR 2019/2020 Nov 20, 2019Dec 1, 2019Jan 1, 2020Jan 31, 2020Feb 28, 2020 Kallas Services Your Responsibilities Kallas will send ACA Service Agreement & fee chart Review Service Agreement and applicable Fee...Warning – Misclassifying Employees Can Be Costly
Contractor versus employee status is a grey area with plenty of definitions and interpretations. In some industries, it is common practice to employ contractors. Contractors give employers the flexibility to get certain jobs done without hiring a full-time employee.
