06.24.11

Three Signs Your Family Office Should Ditch QuickBooks

Just about every family office starts out with QuickBooks as its accounting system. And why not? QuickBooks is extremely easy to learn, and you can be up and running in minutes. Not to mention it’s dirt-cheap at only a couple hundred bucks.

06.13.11

She Blinded Me With Science!!!!
Robert Swenson

The research and development credit (R&D Credit) for a restaurant? It sounds scientific, only for people in white lab coats inventing the next widget, right? WRONG! Restaurants are constantly opening and evolving. An integral part of that evolutionary process is research.

06.10.11

The Value Of A Gift

One of the issues we frequently see, both when working on the financial statements of our not for profit clients and the tax returns of our individual clients, is how to value donations of goods and services. Not for profit organizations typically don’t advise their donors regarding what value to place on donated goods, as the organization appropriately doesn’t want to take any responsibility for what the donor reports on their tax returns. Further, donors are not entitled to a deduction for the value of services they provide.

06.06.11

LinkedIn to Top-Line Revenue

Most restaurants have Facebook and Twitter pages, and do a great job of pulling together the barbeque and water cooler crowd. However, if you have employees that are focusing on growing your private dining or catering events, there is potential to leverage some of the most powerful tools on LinkedIn to add top line revenue that your restaurant may be overlooking.

05.31.11

Mrs. O’Leary’s Cow
Anna Maria Viti

Have you heard the story about Mrs. O’Leary and her unpretentious cow kicking over the lantern that started the Great Chicago Fire? Have you ever stopped to think, what if your business suffered similar destruction that caused a total loss…how would you recover? Would you recover?

05.23.11

TEFRA! TEFRA! READ ALL ABOUT IT!
Lisa Rudisel

TEFRA (The Tax Equity and Fiscal Responsibility Act) was instituted to produce additional revenue through a combination of federal spending cuts, tax increases and reform measures. One of the areas targeted is reporting tips by employees of food and beverage establishments. According to the IRS, approximately 16% of total tip income is being reported by restaurant and bar employees. Obviously, that is a lot of money in taxes not being collected.

05.16.11

Delivering Solutions To Excess Capacity
Brandt Kucharski

Did you know that according to the National Restaurant Association (NRA) yearly revenue from restaurants is $300 billion? Even more pertinent is that nearly 50 percent of this revenue comes directly from delivery, take out and drive thru. This begs the question why wouldn’t every restaurant offer delivery, or takeout? The answer can be broken down into a couple key points which are outlined below.

05.09.11

Steak 101 Finals. Can You Pass The Test?
Chef Paul Katz

In our video this week, we review the various types of beef we have talked about and offer our Steak Week menus for your consideration and answer our final trivia question, “What is the difference between prime and choice?”

05.04.11

Listen to (MOM) Month-Over-Month Sales!
Jim Gramata

It is on everyone’s mind. What is the current state of today’s residential real estate market? Where is the residential real estate market going? Where can I find a reliable information source for the real story on where the market trends are heading?

05.02.11

Haray Caray’s Steak Tips
Chef Paul Katz

What’s the difference between dry aged and wet aged steak, grass and grain fed beef or bison and beef?

During steak week, which takes place from May 16th through May 19th, Harry Caray’s will offer four side-by-side steak comparisons with wine pairings. Each selection will be accompanied by detailed tasting notes comparing and contrasting the characteristics of the two different steak options, and explaining how the qualities of the meat influence the choice of wine.