Restaurants and Hospitality

A Full Menu of Services

 

Even a casual observation of the “comings & goings” of both local and trendy neighborhood restaurants proves that this industry is one of the riskiest to enter and remain successful.

MichaelSilver restauratuer clients face a complete spectrum of business challenges.  These challenges include marketing; production and cost control; management of spoilage and pilferage; preventing embezzlement; and ensuring customer satisfaction, all of which can make it difficult to run a profitable establishment.

The MichaelSilver Restaurant and Hospitality team has years of experience consulting on a broad range of these specific issues. Our team of professionals provides a full menu of accounting and assurance, tax, and consulting services to restaurant and beverage establishments, to position them for success. Services include:

 

  • Pre-acquisition/Start-up Consulting
  • Cost Segregation Studies
  • Volume and Profit Analysis
  • Inventory/Cost/Employee Theft Controls
  • FICA Tip Credit Optimization
  • Tip Reporting Compliance
  • Management Profitability/Gross Margin Analyses
  • Restaurant/Liquor Industry State and Local Sales and Amusement Tax Reporting
  • Employee Benefits, Requirements, and Planning
  • Financial Reporting for Third Parties
  • Income Tax Compliance

We help our clients position themselves for success in
this extremely competitive industry.

Joseph P. Roznai

Joseph P. Roznai

CPA, CGMA, Partner

Silver Advantage Alerts

Introducing the “Illinois Gives” Tax Credit Program

A new Illinois income tax credit is now available for tax years ending on or after December 31, 2025 through December 31, 2029. The “Illinois Gives Tax Credit Act” provides a 25% tax credit to taxpayers who make qualified contributions to a permanent endowment fund held by a Qualified Community Foundation (QCF).

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