Restaurant Tax Saving Ideas

Here are just a few of the tax saving ideas that your CPA should talk to you and not charge you for:

1. How do you protect yourself against the IRS disallowing the meals that you spend researching the competition and getting new and better ideas to increase your sales and profits?

2. Should you lease or buy that car?

3. How do you get 100% airfare deduction that the IRS cannot challenge? When don’t you get the 100% tax deduction?

4. When should and when shouldn’t your spouse be paid out of the restaurants?

5. When should you and when shouldn’t you buy key man life insurance?

6. Does the new stimulus tax rules regarding restaurant leasehold improvements apply to you and why it is a big benefit to take advantage of these new tax benefits?

7. Should each of your restaurants have their own checking account or not?

8. When can you write off start up costs for a new restaurant and what can go terribly wrong if your CPA does not instruct you?

9. Why you could owe a bundle of taxes should IRS audit you and your restaurants do not have reconciliation between the restaurant(s) daily sales journal that comes from your POS system and your bank account(s)?

10. How to increase deductions by reviewing your personal credit cards and checking accounts?

11. Why the year end payroll reports must agree to the business tax returns and what can go terribly wrong if they do not agree?

12. What you must do to be able to write off auto expenses or lose deductions? In addition, why IRS looks at this carefully and if auto isn’t supported properly they look more closely at whether items that could be personal are properly supported (i.e. travel, meals and entertainment and “research and development”)?

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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