Top tax considerations for hospitality and restaurants in 2021
The COVID-19 pandemic set the restaurant industry into a nosedive in 2020, causing major tax implications. Our experts break down the top five tax considerations to look at in 2021, shared via the Michigan Restaurant and Lodging Association.
The COVID-19 pandemic has brought on a severe impact in the restaurant and hospitality industries in 2020. Federal stimulus loans and cash flow will be key to survival in the coming year, but they come with significant tax implications.Our experts Dean Feenstra, Dipti Vaishnav, and Emily Kranick break down the top five tax considerations for the restaurant and hospitality industries to help keep your business operating smoothly. Topics include PPP2, the employee retention credit, and more.
