Restaurant Industry News

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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.

MICHIGAN VOTERS: IMPORTANT CALL TO ACTION

Nov 1, 2024 | Article

By now you probably have heard that the democrat majority Michigan Supreme Court went partisan last July to strike down the Workforce Opportunity Wage Act (2018 PA 368) and Paid Medical Leave Act (2018 PA 369) arguing that they are unconstitutional because they...

NEW BOI REPORTING NON-FILING PENALTIES START JANUARY 1, 2025

Nov 1, 2024 | Article

Beneficial Ownership Information reporting requirement has Stiff Penalties for NonCompliance   Starting January 1, 2024 a new mandatory ownership reporting requirement for small businesses (corporations, partnerships and LLC’s) was instituted. Three years...

MICHIGAN’S MINIMUM WAGE WILL INCREASE TWICE IN 2025

Nov 1, 2024 | Article

We would like to inform you of important changes to the minimum wage regulations in Michigan, The first will take effect January 1, 2025 and the second February 21, 2025. Key Changes to the Michigan Minimum Wage: January 1, 2025 The standard minimum hourly wage will...

2024 Holiday Schedule

Nov 1, 2024 | Article

Our office will be closed on: Thursday,  November 28 2024 for Thanksgiving. Friday,  November 29 2024 for Thanksgiving. Wednesday, December 25 for Christmas. Wednesday, January 1 for New Years. While the phones will be off, some employees may be processing faxed and...

8 ways Paperless Payroll Saves Time & Money

Aug 1, 2024 | Article

More and more tech-savvy restaurant owners are moving to paperless payroll.  It sounds strange and dangerous but it actually is more secure, easier, faster and efficient than paper checks. Restaurant owners who go paperless are happier.  The employees are happier. ...

NO TAX ON TIPS – A DREAM COME TRUE?

Aug 1, 2024 | Article

AS BIG OR BIGGER THAN ERTC? Former President Donald Trump promised that if elected president in November, his administration will eliminate taxes on tips. Remember, when Trump was President before, he passed the “qualified business income deduction” or QBI.  This is a...

OVERTIME RULES IN MICHIGAN FOR TIPPED EMPLOYEES

Aug 1, 2024 | Article

TIP CREDIT COMPLICATES OVERTIME RULES   Employees who work over 40 hours in a week must be paid 1.5 times their hourly rate. So, for example. If you pay a cook $20 per hour and he/she works 41 hours in a normal work week, you would have to pay that person $30 for...

HOW TO DEAL WITH THE COST OF CREDIT CARD SERVICE FEE

Aug 1, 2024 | Article

Credit card service fees have been in the news recently. It seems some restaurants in California have been adding a surcharge on the customer bill for using a credit card. This has caused a public backlash. I was at a restaurant seminar recently.  Many of the...

UPDATE ON ERTC REFUNDS

Aug 1, 2024 | Article

IRS HAS LIFTED MORATORIUM Some restaurant owners are still waiting for their ERTC refunds.  It has been very frustrating for restaurants that really need the money and have waited 10 months or longer. The ERTC (Employee Retention Tax Credit) was instituted during the...

IRS SAYS ERTC CONTINGENT FEES UNLAWFUL

Aug 1, 2024 | Article

Do you know anyone who paid a company or promoter to obtain the ERT credit and paid a  fee based on a percentage of the refund? IRS says a contingency fee or percentage-based fee when preparing either an original or amended tax return is illegal. Kallas-who knows the...

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