04.20.11

Structuring Multiple Real Estate Investments
Richard Lang

Generally, each real estate investment should be owned by a separate entity. If multiple properties are owned in one entity, a financial problem for one property—such as judgments by vendors or by trip-and-fall plaintiffs—will affect all properties. Think of this strategy as not putting all your eggs in one basket. If each property is in a separate entity, only the troubled property will be at risk and only its owner will be liable. Furthermore, many lenders will require that the borrowing entity own only the property which secures the loan.

04.17.11

Successful Businesses Take the First Step

There is no perfect time to make a change. There is no perfect time to start a business. There is also no perfect time to write your first blog post. However, it is always the right time to take your first step towards achieving one of these goals (or anything else you’ve been meaning to […]

04.16.11

What Is The Difference Between Dry and Wet Aged Steak??
Chef Paul Katz

In my blog post last week, I introduced you to Steak Week at Harry Caray’s taking place May 16th through 19th. During that week we will be featuring a different side-by-side steak comparison and wine pairing along with steak and wine tasting notes describing the characteristics of the two different steak options and explaining how the qualities of meat influence the choice of wine.

04.11.11

Think You Know Steak? Put Your Palate To The Test!
Chef Paul Katz

When faced with the vast array of steak choices in restaurants and upscale grocery stores, do find yourself wondering: Is Prime really better than Choice? What’s the difference between Grain-Fed and Grass-Fed? Bison or Beef? Dry Aged or Wet Aged? What wine should I choose for which steak?

04.08.11

Do You Have A Bank Or A Banker?
Matthew Sloan

In today’s challenging business environment, everyone is looking for the best price around to save a buck. Whether you’re buying detergent at the grocery store or shopping around for a brand new car, the goal is to get the best deal possible. The same concept should apply to your banking relationship. However, when providing a service, there are the tangible considerations, such as fees. But there are the intangible considerations as well, or the value that comes with having a true relationship.

04.04.11

Eating Made Easy
Brandt Kucharski

Fifty years ago the profitability of a restaurant was measured in the most simplistic means; how many tables do you have and often can you turn your tables, or its capacity.  Restaurants that were consistently occupied flourished while restaurants that consistently had open seats struggled.  The formula for success remained unchanged until about 20 years […]

04.01.11

Cover-ups and Whistleblowers. Oh, My!
James Quaid

The Sarbanes-Oxley Act of 2002 was enacted on July 30, 2002, less than one year after the first announcement of problems at Enron.

The Act applies to “Issuers”, namely publicly-traded companies, as defined in the SEC Act of 1934. However, the Act includes two provisions that are applicable to all corporate entities, including not-for-profit organizations: document retention and destruction and whistleblower protection.

03.28.11

That Sinking Feeling
Lisa Rudisel

The restaurant industry is truly unique in that employees are more often than not bringing home most of their earnings as cash at the end of each work day. Of course, along with this comes a little bit of complexity when calculating payroll taxes on these wages.

When an employee’s net wages from their hourly salary are not enough to cover the withholdings on the taxes paid on their cash tips, this is known as a shortfall. And if not tracked properly, can lead to a big problem and leave you with more than a sinking feeling.

03.25.11

To Contract or Not To Contract, That Is The Question

The question, to contract or not to contract has baffled business owners and organizations for as long as Shakespeare as been asking, “To be or not to be”.

03.23.11

Are You A “Professional”?

There are many different types of professionals; professional hit men, professional dancers and professional sports figures. However, there is a type of professional that can be difficult to qualify for but the tax benefits can be very advantageous.