The hospitality industry is a competitive and cyclical one. Restaurant owners often operate on slim margins, subject to the whims of tourism trends; weather that can be unpredictable year-to-year; as well as other factors beyond their control such like fuel prices or unemployment rates in certain regions at any given time for example.
When you hire Patriots Tax & Accounting professionals that specialize in hospitality-related businesses, we can help reduce your company’s overall taxes. We will also handle industry specific issues such as state or local government tax incentives and R&D tax credits to reduce tax liability.
Our experience in the hospitality industry includes, but is not limited to:
- Hotels and Hotel Developers
- Golf Resorts
- Entertainment Facilities
- Country Clubs
- Restaurant Franchises
- Family-owned and Independent Restaurants
- Race Tracks
- Wineries
Hospitality Accounting & Tax Services
We understand the operational challenges faced by businesses in the hospitality industry and we offer the following hospitality accounting services:
- Internal controls
- Audits, reviews, and compilations (financial statements)
- Cost segregation studies
- Operational and profitability reviews
- Sales and use tax
- Business tax incentives
- Payroll issues (tip reporting)
- Cash flow forecasting and revenue projections
- Financing assistance options
- Mergers and acquisitions
- Business and Real Estate Valuations
- Succession planning and exit strategies
We’re here to take care of your hospitality accounting needs, so you can focus on managing your business. Fill out the form below to get started.