Collaborate to Achieve Profitability & Growth
In today’s hospitality industry, there are many challenges for owners and operators to overcome. From staffing to supply chain shortages to maintaining capital, it’s incredibly tough to balance these obstacles while continuing to seek growth. Focusing on your vision, strategic plan and long-term goals in this competitive industry is mission critical.
Bennett Thrasher’s Hospitality practice serves a wide range of hospitality businesses, including hotels, restaurants, resorts, country clubs, athletic clubs and other hospitality-related companies. Our hospitality accountants understand the nuances of this industry and provide a full range of innovative tax, accounting, assurance, risk management and advisory services to help you optimize business results and focus on your growth.
Owning or investing in a restaurant can be a risky and complex endeavor. To achieve consistent profitability and growth, you need to leverage capital while managing costs and minimizing your tax liability.
Restaurant owners, operators and investors in franchise, quick-serve, casual and fine dining establishments depend on Bennett Thrasher’s expertise for help navigating these risks and opportunities. A leading restaurant accounting firm, we support restaurant clients with a wide range of tax, accounting and advisory services, including:
- Financial reporting and assurance services, reviews and compilations
- Minimizing the overall state and local tax (SALT) burden
- Tax-efficient structuring of mergers and acquisitions and M&A due diligence for acquisitions and sales of hospitality projects
- Discovering federal, state and local economic incentives and credits, including the federal tip credit and Work Opportunity Tax Credit
- Outsourced restaurant accounting support, from month-end close procedures to continuous planning
- Business valuation and expert witness support during eminent domain cases
- Managed and outsourced IT services customized to meet your needs
Hotel owners and managers need to constantly look for opportunities to manage their finances, keep costs down and remain competitive. Whether you have a large chain or an independent boutique hotel, Bennett Thrasher can provide hospitality accounting, tax and advisory services to meet your needs, including:
- Tax planning and consulting, including income tax planning and preparation of returns
- Tax-efficient structuring of mergers and acquisitions and Quality of Earnings assessments
- Minimizing overall state and local tax (SALT) burden
- Outsourced accounting support
- Financial analysis and consulting to control costs and manage cash flow
- Discovering federal, state and local economic incentives and credits, including the federal tip credit and Work Opportunity Tax Credit
- Risk management assistance, including IT, operational and financial risk assessments
- Employee benefit plan audits to ensure department of labor compliance
- Financial statement audits, reviews and compilations
- Information technology services for network support and development
If your hospitality business crosses international borders, our accountants and consultants have considerable international tax and accounting knowledge, including transfer pricing expertise.
Sometimes, international tax compliance requires additional assistance. In that case, we can tap into the capabilities of tax professionals from jurisdictions around the world through our affiliation with Leading Edge Alliance and DFK International, two worldwide associations of independent accounting firms located in more than 110 countries around the world.
With a team of experienced hospitality professionals behind you, you can rest assured that your global needs are covered, no matter where you operate.
Meet Our Hospitality Accounting Experts
Bennett Thrasher believes in serving our clients by building trust through insight and involvement.
If you’re looking for a strategic hospitality accounting partner who understands the industry, we can help. Contact Cory Bennett or Tim Watt to schedule a consultation.
CORY BENNETT
Partner
TIMOTHY WATT
Partner
