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Don’t Get Burned By The IRS – Tax Tips for Restaurant Owners

Modern Restaurant Management

O – Organize Expense Documents In the event of an audit, the IRS will request original receipts, invoices and other expense records. Reviewing these documents helps the IRS validate the amounts of the claimed expenses on the tax return, and also IRS determine underreporting of income. Call a reputable tax professional!

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AI Is Revolutionizing the Food Industry

Modern Restaurant Management

However, the impact that AI is already having on the food industry is without parallel, helping to lower food prices, increase the availability of certain products or ingredients, and prevent supply chain shortages. With AI, food companies can calm ingredients that trigger allergens.

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Marketplace Collection Laws Present Unique Challenges for the Restaurant Industry

Modern Restaurant Management

Although food delivery has long been popular for certain types of food, pandemic restrictions and consumer preferences hastened the expansion of food delivery for almost all food and meals. Food delivery can be done either through the restaurant itself or through unrelated third-party online food delivery services.

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Five Restaurant Accounting Tips for Non-Accountants

Modern Restaurant Management

The key to operating a profitable restaurant is understanding your profits and losses, knowing how to manage food and labor costs and making strategic decisions about expenses and investments. Historical sales levels can indicate what food, beverages, and supplies you need to buy for the next comparable sales period.

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How Can Restaurants Harness Technology to Combat COVID-19?

Modern Restaurant Management

Even as vaccines and more treatments become available, the food service industry – and many other sectors – will need to make heightened safety measures permanent to meet customers’ expectations and cultivate ongoing trust. And what about food created by 3D printers ? Takeout Takes Off.

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Food Cost Formula: The Secret to Higher Restaurant Profits

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Managing food costs is one of the most important factors in running a profitable restaurant. With rising ingredient prices and tight profit margins, understanding the food cost formula can make the difference between financial success and failure. What is the Food Cost Formula? Lets dive in!

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MRM Research Roundup: Mid-September 2021 Edition

Modern Restaurant Management

15 percent have ordered alcoholic beverages with food for delivery or takeout, on par with the 18 percent of Canadians that say they’re likely to do this. “The developments and improvements made to delivery and takeout containers, food quality and speed have made a lasting, positive impression,” says Barclay.