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Menu Item Analysis and Categorization for Restaurants
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...
IRS BOOSTS STANDARD MILEAGE RATES FOR SECOND HALF OF 2022
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...
Mitigating Inventory Management Issues in the Production Process
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...
NC Passthrough Entity Tax (PET) Election
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...
Fundamentals of Menu Design
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...
Inventory Management Best Practices
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...
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