Experience and knowledge enable STA to achieve maximum benefit for small to medium-sized firms, including restaurants and other food service providers. For over ten years, STA has been engaged by numerous businesses serving in the food industry such as the following:
- Caterers
- Restaurants
- Coffee houses
- Concessions
- Cafeterias
- Bars
- Mobile food services
Business owners involved in food preparation, food service, or food delivery grapple to comply with enough regulations that many proprietors want to throw in the apron. Food and beverage businesses comply with countless industry-specific rules and regulations. Keeping compliant with the rules keeps customers safe and proprietors in business! With the day-to-day time investment in running a restaurant, measures to remain compliant with these rules must be woven into the daily routine. Similarly, the tax systems and controls for a restaurant should also be implemented within the business to safeguard the business from overpayment of tax and risk exposure.
During the comprehensive Strategic Tax Planning process, STA’s team of experts will include the following when examining a business within the food service/preparation industry:
- Method of accounting analysis
- Depreciation and analysis for building and equipment
- Credits for employees
- Independent contractor classifications relating to workers
- Asset risk assessment and protection plan
Protecting the valuable assets within the business and maximizing after-tax profits is obtained for business owners of food services through STA’s tax planning process.