Restaurants & Bars
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Bookkeeping Services
$500-3,000
per month
- Monthly Bookkeeping
- Bank Reconciliations
- Sales Tax Filings
- Financial Statements
- Financial Analysis & Reporting
- Ongoing Tax Advisory
We provide our clients with live books and timely month end close.
Restaurants & Bars
At Bennett Accounting & Tax LLC, we offer specialized bookkeeping, payroll, and tax preparation services tailored to the unique needs of restaurants and bars. These businesses operate in a fast-paced, high-volume environment with specific financial challenges, from tracking tips to managing fluctuating staffing levels. Our expertise, particularly in the FICA tax on tips credit, ensures that restaurant and bar owners can optimize their finances while staying compliant with tax regulations.
Accurate Bookkeeping for Restaurants & Bars
Managing the day-to-day financial operations of a restaurant or bar requires careful tracking of income, expenses, and inventory. Our bookkeeping services provide:
- Precise Expense Tracking: We categorize expenses such as food, beverages, labor, and overhead, ensuring clear financial reporting. This helps business owners identify areas to reduce costs and improve profitability.
- Cash Flow Management: With fluctuating revenues based on customer flow and seasons, we help maintain steady cash flow by providing accurate financial forecasts and identifying potential shortfalls.

Efficient Payroll Management
Payroll in restaurants and bars is more complex due to hourly employees, tipped workers, and varying schedules. Our payroll services ensure:
- Accurate Tip Reporting: We help businesses stay compliant with IRS regulations by accurately tracking and reporting tips, ensuring employees are paid fairly while meeting tax obligations.
- Multi-State and Seasonal Employees: If your business operates across state lines or hires seasonal staff, we handle payroll tax compliance across jurisdictions, reducing your administrative burden.
- Timely and Accurate Payroll Processing: We ensure your employees—whether full-time, part-time, or tipped—are paid on time, with the correct withholdings for taxes, deductions, and tips.
Tax Preparation and the FICA Tip Tax Credit
One of the unique tax benefits for restaurants and bars is the FICA tax on tips credit. This can provide significant tax savings, and we ensure businesses take full advantage of this credit:
- Maximizing the FICA Tip Credit: Restaurants and bars are required to pay FICA taxes on the tips employees earn, but they may be eligible for a tax credit to offset a portion of these taxes. We ensure that all eligible employers take advantage of this valuable credit, helping reduce overall tax liability.
- Tailored Tax Strategies: Beyond the FICA tax credit, we help restaurants and bars implement tax strategies that align with their growth goals, including maximizing deductions for equipment, improvements, and other operational expenses.
By partnering with Bennett Accounting & Tax LLC, restaurant and bar owners can streamline their financial operations, reduce the risk of tax penalties, and improve profitability. Our expertise in managing bookkeeping, payroll, and tax credits like the FICA tax on tips allows you to focus on delivering exceptional service to your customers while we handle the complexities of your financial management.
Free Discovery Meeting!
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If you’re looking for a Certified Public Accountant to provide tax preparation, bookkeeping, or payroll services, we’re here to help!
Let’s figure out if we’re a good match for one another.
Our Services
Exceptional Quality in Accounting and Tax
Assistance with accounting and taxes ensures that tax obligations are met while maximizing your financial efficiency for small businesses, individuals, and large corporations alike. Below are some of the avenues where our team can help your business find success.
Comprehensive Tax Planning
We help clients from all across the United States plan ahead for tax season. If you’re looking to minimize your tax liability and avoid overpaying the IRS, we’re ready to help.
Contact us now to discuss your tax situation with a Certified Public Accountant (CPA).
Hear What Our Clients Have to Say
Our Client Testimonials
We assist clients in a wide range of industries at different stages of their lives and businesses. Below are some of the clients our practice continues to support to this day.
It's reassuring to have such reliable and personable professionals handling my financial matters.