News & Resources

The Restaurant of the Future

  More than a year ago, no one could have predicted the unprecedented challenges faced by so many restaurants around the world due to a major global pandemic. Customer demand for convenience and flawless digital experiences are on the rise

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Restaurant Revitalization Fund

  The Small Business Administration (SBA) has released dates to register and apply for the Restaurant Revitalization Fund (RRF). Registration for the SBA application portal will begin on Friday, April 30, 2021, at 9 am ET. Applications will open on

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Restaurant Revitalization Fund Overview

  The Restaurant Revitalization Fund was created to provide funding to help restaurants impacted by Covid-19. The program will provide restaurants with funding equal to their pandemic related revenue loss up to $10 million per business and no more than

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Restaurant Revitalization Fund

  The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF), a senior SBA official testified during a Senate Small Business Committee hearing. The American Rescue Plan

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Restaurant Retention Credits

Do you run or manage a restaurant or any other related business and had less than 100 full time employees, that took a significant hit to revenue in 2020? Then there is a strong likelihood you qualify for the employee

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Restaurants, Bars and Breweries: Responding to COVID-19

  Somerset’s restaurant leadership team put together a bullet point list of helpful suggestions to communicate to your restaurant clients to help them navigate these unchartered waters: Check your state and local government for availability of disaster loans Sell gift

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Boston Bruins Win Big Against IRS

  Earlier this month, the Boston Bruins scored a victory over the Internal Revenue Service when they won the argument teams should be able to deduct 100% of the cost of certain meals provided to players and staff. Under current

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Distinguishing Between Tips and Service Charges

  The IRS has issued a fact sheet to remind employers that so-called “automatic gratuities” and any amounts imposed on the customer by the employer are service charges, not tips. Some examples of service charges include automatic gratuities for large

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2016 Tax Planning for Restaurants

  As 2016 has come to an end, taxpayers need to be proactive in year-end tax planning. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act), was signed into law in December 2015 and made many changes that

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