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.

EVALUATING THIRD-PARTY DELIVERY SERVICES

Aug 1, 2024 | Article

Third-party delivery services proliferated during the Covid pandemic keeping some restaurants above water when customers stopped eating out.  Even today, third-party deliver services provide restaurants with a sales stream they might not achieve with just dining in...

BENEFICIAL OWNERSHIP REPORTING IS HERE

Aug 1, 2024 | Article

A NEW REQUIREMENT FOR LLC’S, AND MOST SMALL BUSINESSES A NEW REQUIREMENT FOR LLC’S, AND MOST SMALL BUSINESSES Starting in 2024, corporations, companies, partnerships, and other entities that file formation papers with the Secretary of State or Office of Licensing and...

PLEASE PAY ATTENTION TO ACA

May 1, 2024 | Article

The ACA (Affordable Care Act) also known as Obamacare has been in effect since 2015. It requires individual businesses and commonly owned businesses with over 50 full time and full time equivalent (FTE) employees to file forms reporting their status as an Applicable...

WHAT IS AN LLC?

May 1, 2024 | Article

In the last decade or so, there has been a movement towards organizing small businesses as LLC’s (Limited Liability Companies) As the name suggests, an LLC limits the legal liability (in case of a lawsuit) of your business to only the assets of the business and not to...

FINANCIAL RULES-OF-THUMB FOR RESTAURANT OPERATIONS

May 1, 2024 | Article

FINANCIAL RULES-OF-THUMB FOR RESTAURANT OPERATIONS In my 48 years of experience, one thing I can say is that although there are some reasonably consistent financial rules of thumb for most restaurants, every independent restaurant is different. There can be...

WARNING ABOUT LABOR AUDITS

May 1, 2024 | Article

Federal and State labor audits have increased. We are seeing an uptick in labor board audits. The federal and state labor audits are looking for the following: Are you paying minimum wage? Are you paying the proper amount for overtime? Do you have undocumented...

QBI EXPIRING

May 1, 2024 | Article

  As of May 2024, the President of the United States is Joe Biden and the Congress is split between Democrats and Republicans.  The next election in November will be important for many reasons but especially for restaurant owners. You will hear very little about...

WHAT MAKES A GOOD ACCOUNTING FIRM?

May 1, 2024 | Article | Tagged:

What factors make a good accounting firm for you and your business?  This is a question I re-visit every year to make sure we are providing value to you – our dear clients. A large part of what I personally do is advise restaurant owners – both clients and...

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