4Thought Blog

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Employee Shift Meals Remain 100% Deductible for Tax Purposes

Great news! Important tax guidance was released in late December 2018 that is considered to be a significant victory for the restaurant industry: Employee Shift Meals Remain 100-percent deductible for tax purposes.

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An Opportunity Zones Guide for Restaurants

To encourage economic growth and investment in distressed communities, the 2017 tax reform act commonly known as the Tax Cuts and Jobs Act contains tax incentives that are tied to investments in businesses or property located within opportunity zones. Tax incentives include both the deferral of, and exclusion from, income tax. The Department of Treasury…

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Own a Family Business? Value it Internally & Externally

While preparing your succession or estate plan, it can be helpful to value your family business both internally and externally. You might wonder what that means — because you think your company has just one value. In fact, it can have multiple values depending on the valuation standard used. The different results can help you determine whether to…

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Overwhelmed by Wayfair? Automation Can Help

On June 21, 2018, the U.S. Supreme Court issued a momentous decision that affects remote sellers and service providers across the country and the digital economy at large. The Court’s South Dakota v. Wayfair decision allows states lawfully to require remote sellers to collect and remit sales and use taxes if they have an economic…

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IRS: Tax Scam Artists Remain Hard at Work

Although the April filing deadline has passed, scam artists remain hard at work, and the IRS is urging taxpayers to be on the lookout for a new surge of evolving phishing emails and telephone scams. The IRS is seeing signs of two new variations of tax-related scams. One involves Social Security numbers related to tax…

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REITs Contending with Flexible Lease Demands

This year is poised to be an eventful one for REITs, with several regulatory and policy changes taking effect that will impact operations and balance sheets. These changes—coupled with a real estate business cycle that many executives feel is at or past its peak, according to findings from BDO’s Global REIT Report—present a mixed bag…

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7 Best Financial Practices for Nonprofit Organizations

Nonprofit leaders have a lot of important duties to accomplish. Right behind following your mission should be managing your finances – without best practices in force, nonprofit leaders could make some costly missteps. See our best financial practices for nonprofit organizations below. And these are not just for the CEO, CFO and other executive officers…

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Retail Survival Tips: Be Digitally Savvy, Customer-Centric

It’s been a rough few years for many brick-and-mortar retailers, with several high-profile bankruptcies altering the face of local malls with thousands of store closures. Despite strong underlying economic fundamentals and high consumer confidence, many large malls have faced significant headwinds. Retailers in outdated malls, or those that have lost anchor stores, have been hardest…

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Estate Planning: What You Need to do Post-Tax Reform

Estate planning isn’t just for the rich and famous. Many people mistakenly think that they don’t need an estate plan anymore because of the latest tax law changes. While it’s true that the Tax Cuts and Jobs Act provides generous estate tax relief, even for well-to-do families, the need for estate planning has not been…

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Hiring Minors to Work at Your McDonald's? Know the Rules

Hiring young people can be beneficial for all parties. But before McDonald’s franchisees make any job offers, you should be fully aware of how youth employment is regulated under the Fair Labor Standards Act. When employers fail to comply with these obligations, they can be prosecuted by the Department of Labor. And if the prosecution…

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