Blog
Developing Accountability In Your Restaurant Business
Before we get to talking about accountability in your Restaurant business... During the first Super Bowl that Tom Brady won (with the Patriots), these were some of the companies who advertised (hat tip to Jon Erlichman of Bloomberg): AOL Blockbuster Radio Shack...
Financial Optics, Inc’s Top 5 List of Potentially Fatal Business Mistakes
There is a difference between income and wealth. Tax returns aren't about wealth -- they're about "income", and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not ... and wage-earners probably...
Passing Down Your Restaurant Family Business
If we've learned anything from 2020, it's that our best-laid plans don't always turn out. As the great philosopher, Mike Tyson once said: Everyone has a plan until they get punched in the face. What is your plan for exiting your Restaurant family business? You need to...
A Few Winning Tips for Controlling Costs in Restaurant Businesses
So ... I'm not sure if you knew this. Apparently, running a business is expensive. And controlling costs can be daunting. But despite whatever you might see from those gurus who are posing by their Lamborghinis in the Facebook ads ... even the leanest Restaurant...
Financial Optics, Inc’s Thoughts on Reimbursement vs Company Cards
If you'll forgive me, I'm going to get pretty geeky today. You probably didn't realize that there are actual pros and cons to expense reimbursement for employees, etc., or using a company cc. Oh, my Restaurant readers, I'm going to take you down a little rabbit hole...
Financial Documentation Strategies for Restaurant Taxpayers
Ah, the wonders of financial documentation... Today’s topic has the benefit of ensuring your Restaurant "financial fortress" is as airtight as it can possibly be, which has its own advantages. Financial Documentation Strategies For Restaurant Taxpayers "You get older...
Cash Flow Management
Whatever size business you own, one thing holds true across small, mid-size, and large businesses: Cash flow is the bread and butter to your business's survival and success. Let's start by answering the question: What is cash flow? Cash flow represents the totality of...
Should Small Businesses Carry Debt?
When you’re first starting out in the business world, financing can be a useful and often necessary tool to jumpstart your business. However, this debt, without proper care, can begin to cause problems rather quickly. If you understand how to handle your small...