Pizza News

Hidden costs of using coupons

Marketing without measurement equals waste! Over the past few weeks, my visits to restaurants included asking simply how they track the benefits of using coupons, such as two-for-one or “buy one get one free” offers. Without exception, there was never a system in place to measure the profits or increased food costs derived from the … More

Pizza News

Commingling with the IRS

I was recently asked to represent a restaurant owner in a case against the Internal Revenue Service. The owner operates five restaurants, each in a separate S corporation, with the operations being individually reported on his personal tax return. In addition, he purchased the buildings for each restaurant individually and rents them to his S … More

Accounting For Your Money

Internal revenue

College interns! Who would have thought that your marketing dollars could be stretched with a huge return on investment year after year? For the past five years, our accounting practice has employed full-time professionals and part-time college students to serve our restaurant owners all year long. We are now moving into the marketing departments of … More

Accounting For Your Money

Is franchising in your future?

Over the past few years, I’ve had the opportunity to analyze and review the operating manuals of several national chains, cover to cover. This was necessary to determine the proper accounting and tax treatment of financial transactions, consider the franchisor recommendations and compare them to my client’s operating results. While researching, I discovered one operating … More

Accounting For Your Money

Accounting for your money: incorporating a business

When deciding to start a new pizzeria, you have a million decisions to make, from finding a location to finding food suppliers and employees. The last thing you want to think about is how to select which type of organizational setup best suits your needs. Choosing whether to remain a sole proprietor or to incorporate can be a … More

Accounting For Your Money

Accounting for your money: donation deductions

I often get asked, “Why can’t I deduct the retail price of pies donated to charity organizations?” The answer is, sometimes you can—and I’ll outline how. You’ve probably found that you have a quantity of surplus food on hand that is not saleable for various reasons, such as misprints, improper weights, overruns, new products withdrawn from test … More

Accounting For Your Money

Accounting for your money: am I being audited?

If there was a contest for the most dreaded piece of mail, letters from the IRS would win, hands down, every time. These unassuming, windowed 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 … More