Don’t Get Burned By The IRS – Tax Tips for Restaurant Owners
Modern Restaurant Management
AUGUST 27, 2024
For example, if a fast-food restaurant is purchasing 16,000 chicken breasts per month for chicken sandwiches, but only reporting sales income equivalent to 8,000 chicken sandwich sales per month, that will be a red flag for the IRS that income underreporting may be an issue. This allows the auditor to verify the expenses.
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