More often than not the sales tax takes a backseat to its sister, the income tax, when it comes time for tax planning. The sales tax is often seen in absolute terms, carrying the perception that it is simply a fixed item. The rates are set and it either applies or it does not apply. On or off, black or white. The surprising reality is that for some industries it is much more nuanced and the degree of nuance can grow even further based on the structure of a particular business. California restaurants and bars operate in this nuanced reality. But within that nuance are potential tax savings that could apply to your restaurant or bar. Turn to Page 3 to discover the top three strategies that yield sales tax savings.
Many Bay Area restaurants and businesses are overstating their assets and paying more taxes than they should. Significant savings can often be achieved by a simple inventory of assets. Turn to Page 2 to learn more.