Nobody ever said the restaurant industry is easy. Beaten up by COVID closures, record-high inflation, and persistent staffing shortages, some operators are just an invoice or two away from hanging up the “Sorry, We’re Closed” sign for good. Even in the best of times,...
The Coronavirus pandemic sent many industry workers home and delayed projects over the last few years, including in the construction industry. While the industry did not stop work completely, there was a significant slowdown in projects due to labor and supply chain...
Menu Item Analysis and Categorization is the study of the profitability and popularity of menu items and the impact each has on operations. It requires a thorough understanding of food costs, sales, and the subsequent categorization of items. From there, various...
For the second half of 2022, the standard mileage rate for business travel will increase by 4 cents per mile, from 58.5 to 62.5 cents, according to IRS Announcement 2002-13. The rate for deductible medical or moving expenses will likewise increase by 4 cents per mile...
No matter what your company manufactures, the management of inventory throughout the manufacturing process is critical to the profitability and overall success of your organization. Sadly, some manufacturers fail to understand many of the basic concepts related to...
On November 18, 2021, Governor Cooper signed NC Senate Bill 105, which includes a provision allowing passthrough entities to elect to pay North Carolina state income tax at the corporate level rather than passing the tax liability on to the shareholders. This...
Proper placement of offerings on a restaurant menu is imperative as this placement plays a critical role in how customers order. Therefore, when designing a menu, it’s imperative that restauranters invest the requisite time and effort into selecting an appropriate...
No matter if it’s raw materials, work-in-process, or finished goods, how your organization manages inventory can play a critical role in the profitability and success of your business. The pandemic has created unprecedented challenges for many industries and their...
The ongoing COVID-19 pandemic has exposed discrepancies and disruptions in global manufacturing and supply chains which have been complex and costly. The constraints on transportation and capacity, supply shortages, rising costs, and frustrated customers threaten to...
Companies that offer employee benefit plans like health insurance or retirement benefits are governed by the Employee Retirement Income Security Act of 1974 (ERISA). ERISA is a federal law that requires employee benefit plan administrators to follow certain...