From sit-down steakhouses grilling up delicious ribeyes to ice cream shops offering the sweetest variety of flavors in town, there are all types of restaurateurs out there who want to make their customers happy through the high-quality food and beverages they serve each day. Despite the numerous expenses that come with the territory in the […]
Tax Tips and Deductions for Restaurant Owners Read More »
f you run a restaurant or work in the restaurant industry, you may be wondering how the Republican tax plan, now signed into law by President Donald Trump, affects you. Now that some clarity is emerging on what the new provisions mean, Restaurant Insider spoke with tax experts and accountants to find out which aspects of the Tax Cuts
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How Much Are Restaurants Taxed? Restaurants get taxed on multiple fronts, like any other business. Depending on how profitable the restaurant is, where it’s located, how big the property is, and how many employees they have, restaurants can be taxed tens of thousands of dollars per year. Federal Income Tax All business owners have federal
Everything You Need To Know About Restaurant Taxes Read More »
Oregon offers globally competitive incentives to encourage business expansion. Property Tax Abatement Enterprise Zones—In exchange for investing and hiring in an enterprise zone, businesses receive exemption from local property taxes on new plant and equipment for at least three years (but up to five years) in the standard program. In addition, many zones can offer
Oregon’s Incentives Read More »
A consumption tax is a tax on the purchase of a good or service. Consumption taxes can take the form of sales taxes, tariffs, excise, and other taxes on consumed goods and services. A consumption tax can also refer to a taxing system as a whole in which people are taxed based on how much
What is a Consumption Tax? Read More »
State sales tax bases have two key areas in need of improvement: in some ways, they are too narrow, and in other ways, they are too broad. State sales tax bases have narrowed over time as new exemptions have been created, such as exemptions for groceries and prescription drugs. Another factor contributing to the shrinking of
Does Your State Tax Manufacturing Machinery? Read More »
Corporate tax planning and tax savings opportunities can have an immediate and meaningful impact on the finances of today’s manufacturing firms. Balancing daily operations and long-term strategy is at the forefront of every chief financial officer’s mind, and in a business environment that is often riddled with a multitude of daily challenges and high demands
5 Things Every Manufacturing Executive Should Know about Corporate Taxes Read More »
The $1.5 trillion tax reform legislation known as the “Tax Cuts and Jobs Act” (TCJA) represents the biggest change to the tax code since 1986. While the implications for businesses are broad and complex, we’ve summarized some of the most common tax reform questions for manufacturers: What are the top issues manufacturing companies need to know about tax reform?
Tax Reform FAQ For Manufacturers Read More »
Many individuals do not realize the value and extent of their digital records and the potential for financial or sentimental loss if these assets are lost or inaccessible. A well-drafted estate plan should address the management and distribution of digital assets to mitigate additional administrative burdens on fiduciaries. Although what is considered a “digital asset”
Digital Assets After Death Read More »
On Tuesday, the U.S. Supreme Court heard oral arguments in the case of North Carolina Dep’t of Rev. v. Kimberley Rice Kaestner 1992 Family Trust, No. 18-457 (U.S.). The case involves a North Carolina statute (N.C. Gen. Stat. §105-160.2) that allows a trust to be taxed solely because it has a North Carolina beneficiary, which was held to be unconstitutional by
Can a State Tax a Trust Based on the Beneficiary’s Residency? Read More »
