Operating a restaurant is a dream for many, but there’s a lot more to it than meets the eye. There are far more restaurants and food-related businesses that fail than succeed, and that’s frequently because entrepreneurs spend more time focusing on front of house operations and food preparation than on the business and accounting side. Though it is not the flashy side of the business, accounting and bookkeeping is just as important as your menu, décor, and presentation, especially with the typical narrow profit margins seen in the restaurant business.
To make your success more likely, take the information provided below to heart. Even better, get professional assistance from our office.
Establishing a Smart Restaurant Bookkeeping Process
The most important thing to do is hire a bookkeeper if you don’t know what you’re doing when it comes to restaurant bookkeeping – and preferably one who has specific experience in food and beverage...
If you own an LLC, you're probably paying too much tax!
In this video, I'll be teaching you about S corporations ("S corps") and specifically, S corps benefits. We'll discuss things like:
-- LLC vs S corp taxes
-- how to reduce self employment tax ("SE tax")
-- S corp distributions
-- how to increase cash flow using S corps
Want to find out how? Watch this video.
Want to find out how? Watch this video.
Do you need more cash? Well, if you're a real estate investor, you're probably sitting on it as we speak!
In this video, I'll teach you about various rental property tax benefits and tax strategies for real estate investors, including the following topics:
-- rental income tax deductions
-- rental property expenses
-- how to avoid paying taxes
-- after tax cash flow
-- depreciation explained
Are you overpaying on your taxes? Most people are!
In this video, we'll go over tax planning strategies as well as business tax deductions. Some specific topics we'll be discussing:
-- after tax cash flow
-- tax savings strategies
-- qualified business deduction
-- how to reduce self employment tax
Here at Wealth.Tax, we have a set of tax strategies that will add 10-40% of cash flow to your bottom line, without having to hire expensive advisors or learn anything about the tax code.
We work with business owners and real estate investors every day on implementing these powerful strategies and changing their financial future, practically overnight. We would love the opportunity to discuss your individual circumstance with you and see if you're a fit for our services.
Click here for a free case study to learn more!
Are you paying too much tax?
Or maybe you have a feeling you could be paying too much, but you don't know for sure?
Well, now business owners and real estate investors like yourselves can find out the answer to these questions in seconds.
Head over to watch a short video explaining how wealth.GPS can help you:
Click here to find out more!
When most people think about their finances, they don’t even realize that TAXES are their biggest expense. Just do the math – when you add up federal, state, local, Social Security & Medicare TAXES, you’ll easily see what I mean.
You’ll probably be shocked at how much of your income goes to TAXES. It’s likely you’re already forking over 30-50% of your income to TAXES.
And guess what? I’ve got more bad news for you…
Your TAXES are going up! It’s not a matter of IF, but HOW MUCH and HOW SOON?
TAXES are only going to go higher, with this new administration, a soaring national debt and rising deficits, plus waves of retirees dropping out of the workforce over the next decade, not to mention the effects of the COVID-19 pandemic.
TAXES will HAVE to go up to pay the piper.
So, what if I offered you a way to add 5-6 figures of after-tax cash flow in the next 90 days, and add an additional zero to your net worth...
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