2015-2016 Tax Guide

Bennett Thrasher is pleased to announce the release of our 2015-2016 Tax Guide. The guide is intended to familiarize readers with recent key tax law changes and highlight certain tax savings opportunities.

IRS Releases New Repair Regulations for Restaurant Owners

An article highlighting the IRS’s new restaurant repair regulations was recently published in Hospitality Business News. The new repair regulations apply to restaurant owners’ tangible property, and provide comprehensive guidance on what assets should be expensed or capitalized.

Georgia Proposes New Sales and Use Tax Regulations for Restaurants

On May 16, 2014, the Georgia Department of Revenue (“DOR”) released Notice SUT 2014-002 which serves as notice that the DOR plans to adopt a new set of sales and use tax regulations pertaining to restaurants and similar establishments. The DOR has accepted comments on the proposed regulations but it is still to be determined when and in what form the regulations may be adopted.

Filing a 1040 Tax Extension: What You Need to Know

As April 15th quickly approaches, you may be advised by your Bennett Thrasher Tax Professional to file an “extension.” In short, an extension is a form filed to request 6 additional months to file your tax return, making your due date October 15th.

Tax Outsourcing: Mindful Management, Part III

In Part I and Part II of this series we introduced different aspects of tax outsourcing, including specific advantages to the co-sourcing model. In Part III we will discuss potential disadvantages to comprehensive outsourcing, and how they may be avoided.

Tax Outsourcing: Mindful Management, Part II

In Part I of this series we introduced different aspects of tax outsourcing. Part II will be a more in depth discussion of specific advantages to the comprehensive outsourcing, or co-sourcing, model.

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