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Minimizing Tax Liability without QIP Guidance

Posted by Lisa Haffer and David DesRoches on Thu, Apr 4, 2019

Restaurant owners who invested in interior improvements in 2018 may be surprised when they receive their 2018 tax returns and see higher than expected tax liabilities. This is a result of an inadvertent drafting error in the Tax Cuts and Jobs Act (TCJA) relating to the depreciation of restaurant improvements.

Before the TCJA, the tax law provided rules for multiple categories of restaurant property assets, many of which were eligible for favorable tax depreciation benefits. To simplify the rules, tax reform consolidated the categories applicable to interior improvements into the single category of Qualified Improvement Property (QIP).

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Topics: McDonald's management, 2017 Federal Tax Reform, Restaurants

Buying a New Restaurant? Borrow Techniques from a Turnaround CFO

Posted by Ryan Moore on Thu, Nov 15, 2018

Growing your business is the primary focus of every entrepreneur. Whether growth occurs by way of increasing sales and cash flows at existing business divisions or via acquisition and expansion, the challenges faced are often strikingly similar.

That being said, let’s examine for a moment the prospects and hurdles one will often face when buying a new restaurant, through the lens of a turnaround CFO.

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Topics: McDonald's management, Business consulting, Restaurants

Restaurants, Retail & Real Estate: A Key Tax Deduction for Business Owners

Posted by Concannon Miller on Tue, Feb 28, 2017

The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn't a no-brainer. Here are the pros and cons.

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Topics: Business tax planning, Restaurants

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