INSIGHTS FROM MIKE
Practical thinking
for business owners.
Tax strategy, audit preparation, and financial basics—from Mike Rasmussen’s contributions to PMQ Magazine and industry publications.
RESTAURANT TAXESPMQ MAGAZINE
Per Diem Rates and Processing Fees for Restaurants
Learn how restaurant owners can properly reimburse travel expenses and understand per diem allowances for away-from-home business travel.
Read the article
RESTAURANT TAXESPMQ MAGAZINE
Reporting Cash and Credit Card Sales
Understanding the IRS requirements for separating cash and credit card payments, and how Form 1099-K affects your restaurant's tax reporting.
Read the article
RESTAURANT TAXESPMQ MAGAZINE
Budget Basics for Restaurant Owners
Setting up a budget is one of the few ways you can seize control of your business finances before matters drift toward disaster.
Read the article
AUDIT PREPARATIONPMQ MAGAZINE
How to Prepare for a Sales Tax Audit
A proactive approach to audit preparation should be part of your monthly, quarterly and annual accounting procedures so you'll be ready.
Read the article
AUDIT PREPARATIONEXPERT INSIGHT
Understanding IRS Audit Triggers
Learn what red flags the IRS looks for and how to avoid common mistakes that trigger audits for restaurant owners and high-income individuals.
Read the article
AUDIT PREPARATIONEXPERT INSIGHT
Defending Your Business in an Audit
With over 300 audits under my belt, I've developed proven strategies to protect your business interests during IRS examinations.
Read the article
TAX TIPSPMQ MAGAZINE
Tax Law Changes That Could Help Your Business
Key provisions including 15-year tax depreciation for restaurant improvements, enhanced charitable deductions, and the Work Opportunity Tax Credit.
Read the article
TAX TIPSPMQ MAGAZINE
Friendly Taxes: Small Business Jobs Act
Understanding Section 179 expensing, bonus depreciation, and how recent tax changes allow faster cost recovery of business property.
Read the article
TAX TIPSINDUSTRY NEWS
No Tax on Tips Act: What It Means for You
The Senate passed legislation that could eliminate income tax on tips for servers and bartenders. Learn how this impacts restaurant workers.
Read the article