Hospitality and Restaurants

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. 

Restaurateurs face a complete spectrum of business challenges, very similar to a manufacturer and a service provider.  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 Hospitality and Restaurant team has years of experience advising and consulting on a broad range of these specific issues. Our team of professionals provide a full range of accounting and assurance, tax, and consulting services to restaurant and beverage establishments, including:

  • Pre-acquisition/Start-up Consulting
  • Cost Segregation Studies to Maximize Depreciation Deductions for Acquired and Constructed Facilities
  • Menu Pricing Models
  • 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


To discuss ways to enhance your business, please contact MichaelSilver’s Hospitality and Restaurants Industry leader, Eric A. Larson, CPA, Partner, at 847-982-0333 or contact us.