Fiscal Flavor: Where Tax Credits and Incentives Add Zest to Every Bite

As a restaurant owner, managing your finances effectively is crucial for the success and growth of your business. One area that can significantly impact your bottom line is understanding and utilizing tax credits and incentives available to restaurant owners. These incentives can help reduce your tax liability, increase cash flow, and promote business expansion. Based on the National Restaurant Association report, it is estimated that the foodservice industry is forecast to reach $997B in sales in 2023 and the workforce is projected to grow by 500,000 jobs, for total industry employment of 15.5M by the end of 2023 and surpassing pre-pandemic levels.*  Businesses can help meet the needs of their surrounding communities by taking advantage of many government-sponsored incentives that are available to them. These programs allow businesses to put money back into their budget, and in doing so, help their community grow and prosper by creating jobs and revenue.  

FICA TipThe FICA Tax…