Serving Up Smarter Finances for Hospitality

Tax Preparation & Planning
for Hospitality Businesses

Restaurant taxation goes far beyond simple income reporting. The restaurant industry faces unique tax challenges that require specialized knowledge and careful attention to detail. From handling tip income and sales tax compliance to navigating the complexities of employee classification and wage reporting, restaurant tax preparation demands expertise that general accountants often lack.

Our team understands the intricacies of restaurant taxation, including the proper handling of credit card tips, cash tip reporting requirements, and the various deductions available to food service establishments. We work year-round with restaurant clients to ensure they're taking advantage of every available tax benefit while maintaining strict compliance with IRS regulations.

Tax planning is equally crucial for restaurant success. We help restaurant owners develop strategies that minimize tax liability while supporting business growth. This includes timing equipment purchases, structuring business expenses, and planning for seasonal fluctuations that are common in the hospitality industry. Our proactive approach means fewer surprises at tax time and more money staying in your restaurant's coffers.

Bookkeeping &
Financial Management

Effective bookkeeping forms the foundation of successful restaurant operations. Daily transaction volumes, multiple payment methods, and complex inventory systems make restaurant bookkeeping particularly challenging. Our specialized bookkeeping services are designed specifically for the restaurant industry's unique needs.

We handle everything from daily sales reconciliation and expense tracking to inventory management and cost analysis. Our systems help restaurant owners understand their true food costs, labor efficiency, and profit margins – critical metrics that determine long-term success. Real-time financial insights allow you to make quick adjustments to pricing, staffing, or operations before small issues become major problems.

Our bookkeeping services also include cash flow management support, which is essential for restaurants dealing with seasonal variations and unexpected expenses. We help you maintain proper financial controls while providing the detailed reporting you need to make informed business decisions and secure financing when necessary.

Payroll & Employee
Management Solutions

Restaurant payroll presents unique challenges that standard payroll services often struggle to handle effectively. Tip reporting, varying hourly rates, and complex scheduling require specialized knowledge and systems designed for the hospitality industry.

Our payroll solutions address every aspect of restaurant employee management, from accurate tip reporting and wage calculations to compliance with federal and state labor laws. We ensure your employees receive accurate paychecks while maintaining the detailed documentation required for tax compliance and potential audits.

Employee classification and labor law compliance are particularly important in the restaurant industry. We help you navigate the complexities of minimum wage laws, overtime calculations, and tip credit regulations that vary by state and municipality. Our expertise helps protect your restaurant from costly labor violations while ensuring fair compensation for your team.

Financial Statement
Assurance & Reporting

Accurate financial statements are essential for restaurant owners seeking to understand their business performance, secure financing, or prepare for potential sale or expansion. Restaurant financial statements require industry-specific considerations that general accounting firms may overlook.

Our financial statement services provide restaurant owners with clear, accurate pictures of their business performance. We prepare detailed income statements that break down revenue by location, day-part, or menu category, giving you insights into which aspects of your operation generate the most profit.

Cash flow statements are particularly important for restaurants due to the industry's seasonal nature and significant upfront costs. Our reporting helps you understand your cash flow patterns and plan for periods of lower revenue or unexpected expenses. We also prepare balance sheets that accurately reflect your restaurant's assets, including equipment, inventory, and intangible assets like brand value.

Why Work With ClarkHirth CPAs

Industry specialization matters when choosing an accounting firm for your restaurant. ClarkHirth CPAs has spent over two decades focusing specifically on the restaurant and hospitality industry. This specialization means we understand the unique challenges you face and have developed systems and processes specifically designed for restaurant operations.

Our team doesn't just handle your accounting – we become strategic partners in your success. We understand restaurant operations, from food cost management and labor optimization to seasonal planning and growth strategies. This industry knowledge translates into better service and more valuable insights for your business.

The Connecticut Restaurant Association recognized our expertise by naming ClarkHirth CPAs as their 2021 Vendors of the Year. This recognition reflects our commitment to the restaurant industry and our track record of helping restaurants succeed. Our clients consistently praise our responsiveness, accessibility, and proactive approach to problem-solving.

We're not just accountants – we're restaurant industry specialists who understand your business from the ground up. This understanding allows us to provide more than just number-crunching; we offer strategic guidance that helps restaurants thrive in a competitive market, no matter where you are in the country.