Tax / Accounting Blog
Your restaurant WILL fail if you do these 5 things
It's not just about a bad location, poor service or dreadful food. Half the reasons restaurants fail is because the owner neglected the finances. While not as exciting as menu creation, food buying or designing the décor, a restaurant's finances are just as vital to success. Your restaurant WILL fail if you do these 5 things - Read More
Goods And Services Tax May Reduce Bills In Restaurants
The brand new Goods And Services Tax (GST) means smaller restaurants will pay a lower tax in their sales, which will also mean less spending for customers who go there. Previously, restaurants added a higher sales tax to the bill, adding to the cost of the meal, which is not a popular thing with customers. The GST is 5%, while service tax added 15% to the bill. Goods And Services Tax May Reduce Bills In Restaurants - Read More
To capitalize or expense a purchase for your restaurant
This is one of the most difficult concepts for business owners to grasp. In general terms, most business purchases are tax deductible. It's the decision as to whether that purchase is an expense or an asset that will determine how you account for it. That decision rests on whether you want to write off the purchase in the same financial year it was made, or amortize (depreciate) it over a number of years. To capitalize or expense a purchase for your restaurant - Read More
4 key things you MUST do for your restaurant to be a success
Not the most exciting aspect of running a restaurant we agree, but just as vital to success as anything else, good accounting procedures will not only help you monitor the success of your business but also provide an accurate framework for planning future growth. Here are the four most important areas to consider. 4 key things you MUST do for your restaurant to be a success - Read More
Miami Accountant Start Ups
Are you thinking of starting a company? Have you already done so and don't know what to do next? If you've answered yes to these questions, then you're in the right place. A start-up company, in its early stages, often has a very small staff, little money, and a large check list of things to do. Below, you can find some tips that will aid you in creating a successful company. Miami Accountant Start Ups - Read More
Look after the numbers and your business will look after you
Look after the numbers and your business will look after you You finally have your own business. You have a great idea, you work hard, your clients love you and you're growing fast. You're also busy, busy, busy and the last thing you want to think about is the accounting. Look after the numbers and your business will look after you - Read More
Errors in accounting will face increased transparency with new FRC procedures
Annual reports will now be releasing information about accounting errors within companies due to updated procedures within the Financial Reporting Council, otherwise known as FRC. Errors in accounting will face increased transparency with new FRC procedures - Read More
Charitable giving and high income taxpayers
There are laid down guidelines that ought to be known by those looking at their charitable contributions for the coming years. Charitable giving and high income taxpayers - Read More
The top 10 risks of 2018
The increased risk of technological developments along with disruptive innovations and organizational opposition to change are the main concerns of business leaders and various boards of directors in the globe heading into 2018. The top 10 risks of 2018 - Read More
Small Business committee supports a more simplified approach to goodwill
Several representatives from different auditors, small businesses, and investors told the FASB on the 30th that they back more change to the accounting approach to Goodwill. Small Business committee supports a more simplified approach to goodwill - Read More
Radical Technology change provides a fantastic opportunity to CPA firms
Technology is positively changing the practice of accounting. Now is the time for CPA firms to thrive and grow, the CEO of CPA.com said in his keynote address at the 2017 digital CPA conference. Radical Technology change provides a fantastic opportunity to CPA firms - Read More
How to evaluate software as an accountant
An accountant is often tasked with making crucial decisions on a day to day basis. But of all the decisions an account has to make, choosing which software to utilize is often the most important of such decisions. How to evaluate software as an accountant - Read More