By trade
Restaurants and food service
Full service, counter service, bars, food trucks, caterers, and anyone whose cost of sales walks out the back door.
All industriesWhat this trade deducts
- Food and beverage cost, counted rather than estimated
- Smallwares, china, glassware and the replacement cycle nobody budgets
- Kitchen equipment, and the repairs that keep it running
- Uniforms and laundry
- Credit card and delivery platform fees, which are not the same line
- Licenses, health permits and alcohol licensing
- Rent, common area charges and the percentage rent clause
- Menu design, photography and printing
The part that costs money
The FICA tip credit is money sitting on the table
If your staff reports tips, you paid employer Social Security and Medicare on tips you never handed out. There is a credit for that, and the number of Miami restaurants not claiming it is remarkable. It takes a payroll system configured to report tips correctly and a return that actually asks for it. Separately: a third-party delivery platform's fee is an expense and its sales are your sales — netting them is how a DR-15 ends up understated.
Other trades
- Construction and the trades
- Property management and real estate
- Dealers and vehicle sales
- Freight, logistics and distribution
- Professional practices
- Retail and wholesale
- Nonprofits
No limit, threshold or rate appears on these pages, on purpose. Those move every year and a stale number under an accounting firm's name is worse than no number at all. Anything with a date on it lives in the Tax Center, where every entry carries its source and the day we checked it. If your situation needs a figure, call us and we will give you the current one.
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Call and a person picks up. Send a note and a person reads it. Either way it reaches somebody at the firm, not a queue.