Restaurants & Breweries

Accounting services for restaurants and breweries

Realize your potential

Seasoned professionals to help you flourish.

Restaurant and brewery owners are passionate about what they do – and so are we. Whether you’re in start-up mode, operating an established business, looking to add another location or preparing to sell, our experienced team will help you navigate through complexities of tax, accounting and operational issues that you face on a daily basis.

Our clients include

  • Full service restaurants
  • Franchise restaurants
  • Independent craft brewers
  • Brew pub owners
  • Distilleries

Our services

Boyum Barenscheer’s team of CPAs and consultants work collaboratively with our restaurant and brewery clients to address their operational, tax and accounting needs including:

 

Performance and Profitability

  • Margin analysis and benchmarking
  • Capital expenditure review

Strategy and Management

Tax Services

Compliance and Assurance

Accounting and Outsourced Services

Trade associations

FAQs

 
What is the difference between an employee and an independent contractor?

The IRS has identified three main areas to consider – behavioral control, financial control and type of relationship. Each of these areas have multiple questions that need to be answered in order to correctly classify the individual. Visit our blog on “Classify with Care” for specifics.

 
Are restaurants required to charge use tax on complimentary meals or drinks?

The answer is yes! If an employee gets a free meal, the restaurant is required to pay use tax on the cost of all the taxable items involved in that meal. If the employee gets a discounted meal, simply charge tax on what the employee actually pays. If a restaurant offers promotions such as free appetizers, drinks or dessert on a birthday or special occasion, the restaurant must pay use tax on the cost of the taxable items (and liquor tax on drinks). This however does NOT apply if there is a requirement to purchase something else such as “buy one get one free” or a free kids meal with the purchase of adult entrée.

 
What are the guidelines for tip reporting?

The IRS guidelines require you to report whatever you take home. Reporting all your credit card tips could be too high if you tip out like any good server does and all of your tips are received via credit card. As the employer, don’t pick a number for the employee – make sure they tell you what to report. As an employee, report what you received less any tip-outs.

Contact Nick for more info

Nick Swedberg, CPA

In the time since Nick Swedberg joined Boyum Barenscheer in 2008, he has become a firm leader in client service. His tax planning and preparation work along with temporary CFO services for clients led him to play a large part in the firm’s business advisory services department. A significant portion of Nick’s client service work is in the restaurant industry…