Two of the Biggest Tax Breaks for the Restaurant Industry
RESTAURANTS: Restaurants typically achieve the following Specialized Tax Incentives and Corporate Expense Reduction averages: Property Owner Tax Incentives: $230,000 – Credit Card Processing 21% – Property Tax Savings 18% – Waste & Recycling Savings 27% – Work Comp Insurance Savings 15%
Two of the biggest tax provisions that affect the restaurant industry are the 15-Year Restaurant Depreciation and the Worker Opportunity Tax Credit.
Both tax provisions expired at the end of 2011 but look like they are back with the initial passing Family and Business Tax Cut Certainty Act.
The National Restaurant Association mounted a wide scale campaign to inform Congress of the importance to provide tax certainty to restaurateurs. Read More.
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