How a CARES Act Correction to Qualified Improvement Property Can Increase Cash Flow for Bars and Restaurants
After the Tax Cuts and Jobs Act (TCJA) of 2017 brought some unintended consequences to the tax treatment…
Read Full ArticleEnhance operations and concentrate on customer service with a team of advisors focused on growing your business.
Staying on top of operations, staffing and providing quality customer service may take precedence over your business’s financials. At Anders, we understand the intricacies of the lodging, food and beverage industries. Our team of CPAs and advisors help restaurants, hotels, real estate owners and food and beverage distributors add value to their business through tax strategies and financial advice — so you can concentrate on what you do best.
Anders works with a range of leaders and professionals in the lodging, food and beverage industry, including:
A local restaurant client had opened another location utilizing financing through an SBA loan. Our team came in and provided loan advisory services to identify the best loan and banking organization to fit the needs of their business. We were able to introduce them to a middle market bank with restaurant experience to help their seasoned business reach profitability faster. After devising a plan to pay off the variable rate SBA loan, we helped pair them with a conventional fixed loan. The restaurant saved $30,000 per year in interest over the remaining eight years of the SBA loan, offering an extra $240,000 to invest back in their business. The new banking relationship also offers intangible savings such as better cash management and security advantages.
By reviewing and analyzing the restaurant’s expenditures as a percent of revenue, we were able to benchmark this data to identify operation and cash flow improvements. After implementing operational enhancements and uncovering cash flow shortages, the restaurant was able to lower expenses by $50,000 during the first year and profitability has continued to improve.
Automated a manual process of generating business history reports for an organization that owned several hotels. Hotel controllers and executives can now pull real-time reports with a full comparison of all locations and history.
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