Today’s powerful POS technology can take your pizza business from break-even to profitability, even in the COVID-19 era.
Accounting For Your Money
How to Make the Best Use of Zero-Contact Payment Methods
“Test and measure results” should be your mantra for evaluating new technologies used at your pizza restaurant in the COVID-19 era.
Accounting For Your Money
Think of Your Accountant as a Financial Systems Advisor for your Brand
As you make changes to your pizzeria operations to survive the pandemic, you need to keep your accountant fully in the loop.
Accounting For Your Money
How to Optimize Your Chances for PPP Loan Forgiveness
Q: How long does it take to determine if I qualify for Paycheck Protection Program (PPP) loan forgiveness? A: At the time of this writing, the period to determine the forgiveness amount of a PPP loan is eight weeks, starting on the date of disbursement of funds from the lender. … More
Accounting For Your Money
How Do I Get My PPP Loan Forgiven by the SBA?
Q: Is my SBA loan through the CARES Act forgivable? And what do I need to do to stay compliant with federal requirements governing my loan? A: Yes, the Paycheck Protection Program (PPP) loan is forgivable if you follow the actual intent of the law and interpretations that have been … More
Accounting For Your Money
What You Need to Know About Filing for an Extension on Your Taxes
Q: I filed for an extension on my taxes this year, but I was surprised to realize I still had to send the IRS a check. How does the extension work? A: Some people get confused about what it means to file for an extension on their income … More
Accounting For Your Money
Should You Be Buying New Equipment Before the Year Ends?
Should I buy more equipment under the new tax law before the year ends? The short answer is, as always, it depends. But here are some basics about the new tax law. First, businesses can immediately expense more under the new law, which increases the maximum deduction from $500,000 … More
Accounting For Your Money
What to Do When You Get a Letter From the IRS
If there was a contest for the most dreaded piece of mail, letters from the IRS would win, hands down, every time. These unassuming envelopes have most people yelling profanities before they even begin to tear the paper to reveal what’s inside. The good news is, there are many reasons that the IRS and … More
Accounting For Your Money
Pizzeria owners: Beware of the credit card “liability shift”
Q: What’s the deal with EMV and the so-called “liability shift”? A: EMV, which stands for Europay, Mastercard and Visa, is the global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. The nationwide EMV migration is well underway, with banks issuing … More
Accounting For Your Money
What you need to know about the new tax law
Q: What do I need to know about the new tax rules? A: Congress enacted the biggest tax reform law in 30 years, one that will make fundamental changes in the way you and your business calculate your federal income tax bill and the amount of federal tax you … More
Accounting For Your Money
Data breaches: A restaurant operator’s worst nightmare
Q How secure is my POS data, and how can I best protect it? A You’d probably be amazed at how easily a hacker can break into your POS system. With that in mind, the IRS recommends that small businesses follow these five steps to protect their data: 1) Identify … More
Accounting For Your Money
Develop a System to Calculate Your Pizzeria’s Net Sales Figure
Q: My CPA never seems to be working with the correct net sales figures. How can we solve this problem? A: At tax time, there’s one daily number on which the owner and the accountant must always agree: net sales. This figure, usually generated through the POS system, serves as … More