Restaurant Industry News

Check out the latest articles, newsletters, and more! 

Articles from The Insider’s Report archives go back over several years. Some articles may include date-sensitive information or other information that has changed over time.
Please consult with your advisor or Kallas Company for updated information or if you have any questions.

Tax Planning Now More Important Than Ever

Feb 1, 2019 | Article | Tagged:

Small businesses can reduce their tax bills significantly. Huge Opportunities if planned properly! The new tax law which begins January 1, 2018, includes many opportunities and significant benefits for small businesses. The law fundamentally changes many of the tax...

Your Tax Returns – We Do More Than Just Preparing

Feb 1, 2019 | Article | Tagged:

Throughout the year we pick up new clients – many from other accountants.  We always review the prior work to see if there is anything that was missed or can be done to better your situation. One of the recurring things we notice is that many accountants and tax...

Michigan New Minimum Wage Starts March 2019

Feb 1, 2019 | Article | Tagged:

Michigan will have a new minimum wage of $9.45 an hour with tipped minimum wage increasing to $3.59 an hour. This will be starting on March 29, 2019. That’s an increase of 20 cents. The state’s current minimum wage is $9.25.  For tipped employees, the increase is...

18 Benefits to Going Paperless Payroll

Nov 1, 2018 | Article | Tagged:

More and more restaurants are moving to paperless payroll.  The technology is proven and just like any new technology, once people see the benefits, they jump on board. Going paperless sounds scary and unfamiliar, but it is really easy and simple.  Just like going...

Changes to Tip Pooling

Nov 1, 2018 | Article | Tagged:

Some restaurants pool tips. Tip pooling is the practice of combining all tips earned by all servers and putting them into one lump sum for distribution later by means of a formula developed by the establishment. Tip pooling is not practiced frequently in restaurants...

Health Insurance for S-Corp Shareholders

Nov 1, 2018 | Article | Tagged:

S Corporations have always had unique issues with respect to health insurance for owners. The Affordable Care Act (ACA) created more complexity for S Corporation owners. Here are the basic rules: Group health insurance non-discriminatory plans that cover all eligible...

Warning! Number of Sales Tax Audits Are Increasing

Aug 1, 2018 | Article | Tagged:

In the last year, Kallas has seen an unusual spike in sales tax audits by the State of Michigan.  Although no one knows for sure how they pick their victims, we think that the state is now matching the 1099-K that the credit card processing companies are providing to...

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