Restaurants

Whether you’re a pioneer striving to make your mark or an iconic business attempting to modernize, keeping your doors open in the highly-competitive restaurant industry is demanding. Friedman’s seasoned accounting and tax professionals can uncover opportunities for you amid labor management challenges and evolving regulations—so you can stake your position as tomorrow’s tastemaker.

Here’s why we’re Michelin star quality:

All-encompassing resources, clear solutions. As your restaurant business expands and adapts to new circumstances, your margins and profitability face increasing pressure. Friedman’s advisors knead through your unique challenges, offering services such as capital structuring, internal control reviews, bookkeeping and accounting and management of financial reporting/ownership reports.

A direct line to leadership. We believe that personalization is a key ingredient in helping you make an impact. Our ratio of one partner for every six staff members ensures that you benefit from the highest level of guidance. With our background delivering client service to a variety of players in the restaurant industry, from culinary pioneers to global restaurateurs, we have the foresight to anticipate regulatory challenges and to act swiftly and transparently in meeting them.

Minimized burden, maximized tax opportunity. Your complex needs require far more than just annual tax return preparation. With more than 150 professionals in our tax department, we are well equipped to provide reliable labor management support by processing and preparing 1099s. As your restaurant grows, our State & Local Tax (SALT) advisors proactively plan and employ techniques to minimize your tax burden by solving complex multi-state tax issues.

Organized back-of-house accounting services. Our in-depth accounting services focus on streamlining your business operations, helping you integrate digital payment software and organize unwieldy financial information. Further, access to outsourced accounting services provides dependable and flexible resources to help you reach your financial goals.

Manage your full house and keep your vision moving forward while a member of our Restaurant Practice handles your tax, business accounting and consulting needs—contact us. 

Our specialized accounting and tax services are suited to address your financial and business consulting needs in this flavorful industry:

• Implementation and monitoring of accounting controls
• Review of tip reporting procedures and compliance with IRS
• Paperless online bill paying and bookkeeping, including:
  • Recording of receipts and disbursements
  • Monthly reconciliations of bank and credit card accounts
• Review of compliance with state and local regulations
• Operation forecasting and analysis of operating results
• Review and analysis of reporting packages to owners, investors or lenders
• Special projects as requested by owners, management or investors
• Management of accounting, tax and payroll records
• Tax compliance and business tax planning
• Preparation and filing of payroll tax returns, W-2s, 1099s, sales and use tax returns