Starters
Welcome to our quarterly newsletter, this edition includes some technical and operational articles we hope will be of benefit. If you would like more information on any of the articles written by our staff or by our professional partners, please feel free to contact us at anytime.
Main Entrées
Payroll and Why You Can’t Control It
Every restaurant owner and operator, large and small, feels the pain of payroll every two weeks. Struggling to control costs, this area seems to be a black hole that they can not work their way out of. Instead of attacking this issue like any other on their financial statements, every time payroll has to be funded it creates a visceral emotion in the owner "why is payroll so high?" Contributing 30% to 40% of the total expenses… » Read More
Profiting From Employee Tax Credits
Another contributing factor to payroll cost is the associated tax burden. Savvy operators understand the employee component of payroll, but often neglect related decisions that can help mitigate such payroll costs. For example, a sizeable portion of labor overhead can be indirectly recouped through wage-based income tax credits. These incentives turn labor expenditures into tax savings. » Read More
Third Party Inspections: A Good Idea?
I understand why an owner of a restaurant would decline the services of a 3rd Party Health and Food Safety Inspection. After all, the executive chef runs a tight ship and the Health Department (HD) has always given them an A grade. Moreover, each manager is fully trained and ServSafe Certified and the entire kitchen staff now have their Food Handler’s card. To quote one restaurant owner, "Why let strangers… » Read More
Gift Card Revenue – Gift or Grief?
Over the last five years, gift cards have attracted a lot of attention, from consumers, retailers, and regulators. A 2010 holiday season survey conducted on behalf of the National Retail Federation (“NRF”) found that more than 77 percent of shoppers had in fact purchased, or intended to purchase gift cards. The survey also estimated total gift card purchases to total almost $25 billion. » Read More
Events
"From my personal experience with Jean, I can tell you that she is not only the best in the business, but she also puts in 110% of her effort into doing what she loves. Her effortless ability to solve problems still astonishes me; I don’t know how she does it, but I can tell you that it was worth every penny."
Eric Merrell, Managing Partner
Two 40 South Restaurant and Wine Bar
» Read More
Sides
Case Study
Reporting Tips to the IRS
This case study focuses on an issue that many restaurateurs battle with constantly: TIPS! Controlling the declaration of income from tips by employees has become a challenge for many restaurant operators. » Read More
Client Spotlight
The Lobster
It seems like the Lobster has always been there, but in actuality it has been just over twelve years in its current form. The original Lobster Shack was opened in 1923 at the corner of Ocean Avenue and Santa Monica Pier. » Read More
Resource of Professionals
The A Specialist
3rd Party Audits
Santa Monica, CA
Phone: 310-399-1144
» theAspecialist.com