DOL Final Rule – Federal Protection for Tipped Employees
The Department of Labor has modified the 2020 Tip Final Rule. View the Q&A below that dives into federal protection for tipped employees. What are the recent updates announced by the DOL regarding protections for tipped employees? The Consolidated Appropriations Act of 2018, which was enacted On March 23rd of 2018, amended the Fair Labor […]
A Quick Guide To The New WA Cares Fund
UPDATE 02/02/2022: WA Long Term Care (LCT) Delay On January 27, 2022, Governor Inslee signed two bills passed by the Legislature making key improvements to WA Cares Fund. The two bills, House Bill 1732 and 1733, will address coverage gaps and delay program implementation by 18 months. Workers will begin to contribute to the fund […]
Employee Retention Tax Credit (ERTC) Update
Update: 11/15/2021 ERTC Nixed for Q4-2021 for Most Businesses The recently passed Infrastructure Investment and Jobs Act – H.R. 3684 – ends the Employee Retention Tax Credit (ERTC) 3 months early for most businesses President Biden is expected to sign the bill into law immediately Section 80604 of the infrastructure legislation ends the employee retention […]
Use These 5 Tools to Increase Restaurant Revenue in 2022 and Beyond
Restaurant revenue, or sales, describes the total amount of money your operation generates during any given period of time. Most restaurants have multiple revenue centers, including food, beverage, merchandise, gift cards, third-party delivery, online ordering, and more. Consequently, revenue can fluctuate tremendously dependent upon various extraneous factors such as seasonality, weather, holidays, etc. Because of this, […]
ERTC Eligibility Update – Recovery Startup Businesses
The American Rescue Plan Act of 2021 has created a new category of eligibility for the Employee Retention Tax Credit (ERTC). A ‘Recovery Startup Business’ can now claim the ERTC in Quarter 3 and Quarter 4 of 2021. A ‘Recovery Startup Business’ does not need a partial suspension of business due to COVID restrictions to […]
How To Choose The Best Accounting Service For Your Restaurant or Bar
While there are numerous considerations when choosing the right accounting service for your restaurant or bar, these four guidelines will help ensure you’re on the right path to begin your search. 1. Determine your specific business needs and goals There are various options a restaurant operator can review when it comes to choosing an accounting […]
Restaurant Revitalization Fund (RRF) Updates
In the wake of the COVID-19 pandemic, restrictions on gathering and other crowd control measures had a huge impact on restaurant owners. As a result, the U.S. Congress introduced legislation called the Restaurant Revitalization Fund (RRF) to help restaurants get back on their feet. The unfortunate outcome however was that the demand for the funds […]
Year-End Restaurant Treasury Focus: CARES Act Changes & NOL Carrybacks
Many businesses struggled to turn out a profit or even mitigate losses throughout 2020. Fortunately, the government passed various articles of legislation within the last year in order to help businesses start on the path of financial recovery. During this episode of The Tip Share, RASI Compliance Director, Brian Smith, walks RASI New Business Strategist, […]
PPP Changes & The Definition Of Non-Payroll Expenses
Podcast Video The Economic Aid Act, which was part of the Consolidated Appropriations Act, expanded the definition of non-payroll expenses that are eligible for PPP forgiveness to include operations expenditures. These newly added categories are set to help restaurants in a large way. RASI Compliance Director, Brian Smith, has compiled the top questions about the […]