5 Key Business Issues Restaurants Are Facing
Business issues and challenges for restaurants range from maintaining agile business operations to addressing a tight labor market.
Club Philanthropy: Guidelines for Employee Assistance and Scholarship Funds
The use of an “Employee Hardship and Disaster Relief Fund Program” is one way to get money donated by members out to employees quickly and tax-free. This article explores the eligibility requirements clubs need to meet to ensure the funds can qualify as tax-exempt distributions,
IRS Issues Employee Retention Credit Gross Receipt Exclusion Procedure
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
The Members Are Back … What About the Employees?
The unemployment rate for leisure and hospitality, 10.1 percent, is nearly twice the national average. However, there are Help Wanted signs everywhere and a bountiful number of job postings. How are private clubs responding to this challenge?
How Private Clubs Can Claim the Employee Retention Credit When Restrictions Are Lifted
Most state and local governments have been lifting COVID-19 restrictions, leaving club management wondering how and if they still qualify for the ERC, especially in the quarter that restrictions are lifted.
Club Philanthropy: Typical Club Foundations
While many clubs have gifting programs that are not tax advantaged, this article focuses on some typical club foundations that provide an incentive to their members to get involved in various initiatives that qualify for favorable tax treatment by the IRS.
American Rescue Plan: What Does It Mean?
The American Rescue Plan Act (the Act) s provides a number of items to help aid economic recovery out of the coronavirus pandemic. Read on for a summary of the Act's provisions.
SBA Releases Draft Application and Program Guide for Restaurant Fund
SBA releases draft application as well as a program guide for the Restaurant Revitalization Fund. Potential applicants should review the resources and prepare to apply.
Restaurant Revitalization Fund Is Coming – An Update on What We Know
The Restaurant Revitalization Fund is coming – SBA website soon to be operational – applicants should be ready.
Hospitality Industry May Find Relief in New ERC Expansions
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.