Category: Restaurant

How to pay less tax and build wealth tip #1

By Jeffrey Brooks, CPA, CFP, MBA for JBrooks Wealth Advisors, PC, a Professional CPA and CFP Firm jeff@jbrookswa.com 602-292-2009 Please consult with your professional tax CPA regarding your specific circumstances! So how do you change your thinking so that you can use your prefrontal cortex to help you reduce income taxes and reduce fear fight […]

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How to deduct more of your personal meals entertainment?

If you are like most people, you are not deducting business meals and entertainment. When I look at clients personal expenditures, I either see a lot of meals and entertainment that were not deducted through the business or I see very few meals and entertainment. Some clients get in the habit of using cash. Other […]

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Although many Restaurants have not been audited for failure to capitalize costs under Internal Revenue code 263A, the IRS still has the authority to assess taxes!

One of the surprises is that although it is very clear that restaurants need to capitalize costs under Code Section 263A, the IRS has not assessed income taxes. In a “nutshell” the Code Section 263A takes a percentage of those costs that are required to be incurred so the food menu items can be prepared.  […]

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Arizona Tax Credits 2013 Save income taxes now by donating to public and private schools, the Working Poor and The Arizona Military Family Relief

Additional AZ Private School PLUS credit: By Jeffrey Brooks, CPA, CFP, MBA for JBrooks Wealth Advisors, PC The Arizona Private School Tuition Tax Credit Law, A.R.S. Section 43-1089 (nicknamed the Original Tax Credit), allows a single taxpayer to make a donation to private school  for up to $1017 and a married couple filing jointly to donate […]

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How to be more competitive in the toughest economy since 1973

As I talk to a large number of our restaurant clients, I hear the same bad news about their decreasing sales. Empathizing with how bad they feel, I have given them ideas on how to increase their top line. However, some of them have a “down” attitude. Assuming that your outlook is also negative, your […]

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11 keys you need to know to be success in your restaurant(s)! How does your restaurant measure up to your competition?

The article has been simplified so it is more understandable to restaurateurs who do not have a financial specialization. The general rule has been used in many cases although there are many exceptions to the general rule. The Restaurateur of Arizona and Mr. Brooks are not responsible or liable for giving you specific advice for […]

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Restaurateurs need to understand how the expansion of new locations can cause major cash problems and loss of tax benefits

Although 8 out of every 10 restaurants fail, those restaurants that exceed normally open a second location. The reasons for opening a second location include: 1.The restaurateur has previously successfully grown a restaurant chain. Many of the restaurateurs who I have worked with have successfully been able to obtain as much as 10 times EBITDA […]

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How to answer or reply to IRS Letter 5036 regarding 1099K?

By Jeffrey Brooks, CPA, CFP, MBA for Jbrooks Wealth Advisors, PC, a Professional CPA and CFP Firm  jeff@jbrookswa.com  602-292-2009  Please consult with your professional tax CPA regarding your specific circumstances! Our goal is to be the best CPA firm in Phoenix and Arizona. We are a Phoenix CPA and tax preparation firm that specializes in […]

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New tax act could cause you to owe more income tax. What do you do if you do not have enough money to pay your income taxes for 2013 and previous years?

What are the effective strategies for high bracket people to manage with the new tax rules? By Jeffrey Brooks, CPA, CFP, MBA for Jbrooks Wealth Advisors, PC, a Professional CPA and CFP Firm  jeff@jbrookswa.com  602-292-2009  Please consult with your professional tax CPA regarding your specific circumstances! First you need to make sure to keep current […]

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How to get money out of your business tax free! Tax Savings and tax reduction with low audit risk from the use of your home for business purposes.

     By Jeffrey Brooks, CPA, CFP, MBA for Jbrooks Wealth Advisors, PC, a Professional CPA and CFP Firm specializing in tax reduction and tax savings!   Jeff can be reached at   jeff@jbrookswa.com  602-292-2009  Please consult with your professional tax CPA regarding your specific circumstances! Did you know that the new tax act allows you to […]

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About Jeffrey Brooks

Jeffrey Brooks, CPA, CFP, MBA since 1976 has specialized in helping clients save significant taxes, help businesses increase their cash flow, revenues and profits while increasing their control and satisfaction. Jeff and his accounting firm sincerely cares about the happiness of his clients.

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JBrooks Wealth Advisors, PC.

Certified Public Accountant
Address: 4647 N 32nd Street, Suite B245
Phoenix, Arizona 85018
Phone: 602-292-2009
Email: jeff@jbrookswa.com