Turn Concepts into Reality.
Expert Services for Hospitality Groups
Bookkeeping & Payroll
Bookkeeping & Payroll
Bookkeeping & Payroll
- Accurate and Timely Bookkeeping: We manage your day-to-day financial records, ensuring accuracy and compliance with industry standards. Our team tracks income, expenses, and other key metrics to provide a clear financial picture.
- Customized Payroll Solutions: We handle payroll processing for your staff, including salaried employees, tipped employees, and independent contractors. Services include wage calculations, tax withholdings, and direct deposits.
- Tax Compliance: We ensure all payroll tax filings and payments are completed accurately and on time, reducing the risk of penalties and audits.
- Employee Benefits Administration: Support for managing employee benefit programs, including health insurance, retirement plans, and other perks, ensuring compliance with labor laws.
Advisory
Bookkeeping & Payroll
Bookkeeping & Payroll
- Financial Performance Analysis: Gain insights into your restaurant’s financial health with customized reporting and key performance indicators (KPIs), such as food costs, labor efficiency, and profit margins.
- Cash Flow Management: Develop strategies to optimize cash flow, ensuring your business has the liquidity needed to meet operational demands and seize new opportunities.
- Tax Planning and Optimization: Our tax advisors provide proactive strategies to minimize your tax liability while ensuring compliance with federal, state, and local regulations.
- Technology Integration: Assistance with implementing advanced accounting software and point-of-sale (POS) systems to streamline operations and enhance reporting capabilities.
Consulting
Bookkeeping & Payroll
Consulting
- Growth Strategy Development: We work with you to identify opportunities for expansion, whether through new locations, menu diversification, or enhanced customer experiences.
- Profitability Enhancement: Analysis and recommendations to improve cost efficiency, reduce waste, and maximize profitability.
- Mergers and Acquisitions: Guidance through the complexities of purchasing or selling a restaurant or hospitality business, including valuation, due diligence, and tax implications.
- Crisis Management and Recovery: Support during challenging times, such as economic downturns or unexpected disruptions, with actionable plans to stabilize and rebuild your business.
- Succession Planning: Ensure the long-term success of your business with a structured plan for ownership transitions, whether to family members, key employees, or external buyers.
Our Partners
Why compass tax advisors?
Industry Expertise: With years of experience serving the hospitality sector, we understand the unique challenges and opportunities in your industry.
Personalized Approach: We take the time to understand your business goals, tailoring our services to meet your specific needs.
Proactive Support: Our team stays ahead of regulatory changes and industry trends, providing you with timely advice and solutions.
Technology-Driven Solutions: Leveraging the latest financial tools and software, we ensure efficiency and accuracy in every service we provide.
Our Tools
