379. Excellent Tips Get Your Restaurant Taxes In Order - Mirissa Harrison

Restaurant Rockstars Podcast

I get that running your restaurant is a total commitment, and business challenges never stop. Tax time is upon us, April is looming and Restaurant Taxes are due. No worries, I’ve got your back. Know that now is the time to get your financial house in order before you send the books to your tax preparer. It’s not too late to clean things up for your 2023 restaurant taxes, make some moves that will preserve your bottom line and put you in the best possible tax position. In this episode of the Restaurant Rockstars Podcast, I’m speaking with Mirissa Harrison, a seasoned Certified Public Accountant with expertise in restaurant taxes and a passion to help you achieve your business goals. Listen as we discuss: • Mistakes that restaurants make when it comes to finances or running the business • The basics of financial understanding and acumen to Improve your operation • A crash course in restaurant financials and understanding the P&L, Balance Sheet, Cash Flow and Daily Break-Eve • What you can do now to improve your tax position before you close the books on 2023 • Steps to take moving forward quarterly to reduce your tax liability • The importance of “Basis” and what that means for owner compensation • How to maintain checks and balances with your bookkeeper or office manager This is solid advice, and I’m speaking from experience when I say that Marissa recently helped me get my books ready and in the best tax position. Reach out to her at www.northpointfinancials.com and then go ROCK your restaurant taxes! Roger The Profit Maximizer mini-course is now available - Learn how to maximize your restaurant profits! Only $7 - https://restaurantrockstars.com/sp/restaurant-profits/ Thank you to our sponsors: Sculpture Hospitality: The solution to improve your bar or restaurant inventory and gain healthier profit margins! https://SculptureHospitality.com/rockstar Tock: Increase restaurant sales, optimize guest throughput, and boost customer engagement all on one seamless platform. Request a demo at https://www.joinTOCK.com/podcast Restaurant Equippers: Top equipment brands, extensive inventory, everyday low prices, and 60 years serving independent food service operators. Only at https://www.equippers.com/ Popmenu: For a limited time only, popmenu is offering our listeners $100 off your first month plus an unchanging lifetime rate. FREE Demo: https://www.popmenu.com/rockstars The Restaurant Academy: Everything you need to know to optimize profits and maximize sales https://restaurantrockstars.com/joinacademy/