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.

OBSERVATIONS & WARNINGS REGARDING NEW FOUND EMERGENCY MONEY

Nov 1, 2021 | Article

Some of you are rolling in government money. Some restaurants were lucky enough to obtain first and second round PPP’s, first and second round ERTC refunds, EIDL loans and RRF grant money.  In some instances totaling in the hundreds of thousands and even in the...

75 YEARS IN BUSINESS

Aug 1, 2021 | Article | Tagged:

Kallas Restaurant Accounting celebrates it’s 75th year in business in 2021. Wow! That is a long time. And still going strong to serve your needs. Nicholas Kallas founded the company in 1946. George took over in 1984 and Nicolas Kallas continues today. For 75 years,...

PPP FORGIVENESS STATUS AS OF AUGUST 1

Aug 1, 2021 | Article | Tagged:

Many recipients of PPP funds forget that the PPP must be forgiven otherwise is becomes a loan and has to be paid back. You have 24 weeks from the day the funds were deposited in your account to spend the funds and submit your request for forgiveness. Don’t forget that...

QUICKBOOKS PRICING

Aug 1, 2021 | Article | Tagged:

Quickbooks has advised us that they are increasing wholesale pricing beginning September 1.  Therefore, If you are licensed for Quickbooks through Kallas you are paying the wholesale price and will be experiencing an increase.  In most cases, it will be about $5 per...

FINANCIAL HELP – WHAT IS STILL AVAILABLE TO YOU?

Aug 1, 2021 | Article | Tagged:

There is still some limited monies available to help a restaurant owner fund operations. First and 2nd round of PPP is not available any more. The ERTC (Employee Retention Tax Credit) is available through the end of 2021.  If you haven’t signed up with Kallas to...

YOU CAN BENEFIT FROM THE MICHIGAN WORKSHARE PROGRAM

Aug 1, 2021 | Article | Tagged:

During the Covid shut-down, many restaurant owners are taking advantage of Michigan’s Workshare Program to keep employees working at least part-time. The program pays unemployment benefits to your employee(s) if you have to reduce their hours. This is how it works:...

TIMELINE FOR THE REMAINDER OF 2021

Aug 1, 2021 | Article | Tagged:

HOW WE EXPECT TO PROCEED WITH COVID PANDEMIC RELATED PROJECTS The pandemic generated many government programs and laws designed to mitigate the government enforced shut-downs. As a result, this has been a very difficult and unusual year for government compliance....

PROTECT YOURSELF! SLOW MAIL IS MAKING THINGS HARD

Aug 1, 2021 | Article | Tagged:

United States mail service over the years has been spotty.  Lately however, it has been getting really bad. We are seeing business reply delayed up to 2 weeks and government agencies have increasingly “lost” mail. Kallas is recommending to all our clients that any...

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