Free seminar for CRA members.
NTCG is proud to present a free, live interactive teleconference on "Year-End Tax Saving Strategies For Restaurateurs". The seminar will be held on Tuesday, October 31, 2006 at 10:00 AM. Please click here to sign up.

Enterprise Zone Credits Dramatically Reduce Restaurant Labor Costs

NTCG’s tax credit findings are rarely less than $100,000 and average over $250,000 per taxpayer. However, less than 10% of businesses claim ANY credits.

Click here  to read a case study (PDF Version ) about how locating your business in an Enterprise Zone can make a difference to your bottomline.

Restaurants are constantly faced with controlling their labor costs. Worker’s compensation increases, employee benefit increases all put a strain on cash flow and the bottom line.

Fortunately, both California and Federal tax law contain numerous tax credits to help businesses stay competitive. Below are just a few of the sample tax credits that EVERY restaurateur should be carefully evaluating:

California Enterprise Zone Hiring Credit

This program can allow the businesses located in any one of the 42 California Enterprise Zones to take tax credits of up to $10,000 per year for EACH qualified employee. A qualified employee simply needs to meet any one of thirteen tests at the date of hire.

California Enterprise Zone Sales & Use Tax Credit

A credit equal to the sales or use tax paid (generally 7.25% to 8.75% of cost), on computers/POS systems, telephone systems, manufacturing or processing equipment, etc.

Federal WOTC and WTW Incentive Wage Credits

Wage credits of up to $2,400 for each economically disadvantaged employee, and up to $8,500 per employee receiving welfare or other government assistance payments prior to beginning work. Other credit programs start at $1,500 per year.

The demographic make-up of restaurant employees provides fertile ground for claiming both federal and California tax credits. Amended return refunds are available for up to the past four years.

NTCG personnel have extensive experience in maximizing credits for restaurants and the food manufacturing industry.

Complete turnkey analysis – we provide a fully documented package with all tax forms for inclusion with your tax returns.

Please call NTCG today for a RISK-FREE evaluation of your eligible net interest income deduction, payroll, sales & use tax, and other incentive credits potential at (800) 791-3589 or click here to contact us.