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Save Big: Top Restaurant Tax Deductions & Credits

Harbor Touch

Ive been in those shoes, scrambling to balance the books while keeping the kitchen humming. Work Opportunity Tax Credit: Hire Smart Hiring veterans, ex-felons, or folks from empowerment zones? The Work Opportunity Tax Credit (WOTC) gives you up to 40% of their first-year wages, max $2,400 per hire.

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Restaurant Accounting Tips Made Simple: Expert Ways to Boost Profits in 2025

Lavu

Even if you hire a professional to handle all the financial aspects of your business, you need to understand what is involved. Balancing your books and managing your finances are not really part of that overarching plan. Occupancy Expenses: This refers to fixed costs like rent, property taxes, utilities, and property insurance.

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Pandemic Reflections: What Lessons Has the Restaurant Industry Learned?, Part Three

Modern Restaurant Management

From a legal perspective, Insurance : the pandemic highlighted the limitations of insurance policies. Several high-profile restaurant groups brought litigation against insurance companies for their coverage position, but were ultimately unsuccessful. We were a sourcing and hiring platform for restaurants. more an hour.

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28 Strategies to Cut Costs in the Restaurant Business

Lavu

Book Your Free Demo Now How to Determine Labor Cost Percentage To determine the labor cost for a restaurant, you will need to calculate the total amount of money spent on labor (wages, salaries, benefits, etc.) Examples of fixed costs for a restaurant include rent, insurance, and equipment lease payments.

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Restaurant Profit Margin: 7 Ways To Actually Make Your Operation More Profitable

SpotOn

But many owners don't account for the high fixed costs of bars —like repairs, insurance, and alcohol theft which can leave them with less profit than expected. This is all the income from your food and beverage sales, catering, branded merchandise, packaged goods, venue hire, etc. Look in your accounting books for these.

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Restaurant Hiring: Navigating the Labor Shortage

7 Shifts

As we start to welcome back workers, doing things as they were before isn't going to work—especially in hiring. That all begins at the hiring level. Before you can even put out a job posting make sure know exactly what you'll be hiring for. Do some planning and get a clear picture of exactly what you need to hire for.

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How To Attract Restaurant Employees In 2024: 10 Proven Techniques

7 Shifts

Hiring and retaining staff has always been a challenge for businesses in the food industry. High turnover not only disrupts business operations but also leads to increased costs and time spent on hiring and training new staff. With an average turnover rate of 79.6% Always include the starting wage or salary range in your job postings.

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