Running a Successful Restaurant
Running a successful restaurant is not only about serving great food, but also about having a solid understanding of accounting principles. As a Canadian restaurant owner, it's essential to be familiar with the country's accounting laws and regulations to keep your business financially stable. This blog will provide an overview of various accounting aspects that are crucial to Canadian restaurant owners, such as paying servers tips on paychecks, payroll, bookkeeping, HST, CRA rules, tax filing, leasehold improvements, and financing.
Paying Servers Tips on Paychecks:
When it comes to paying servers tips on paychecks, Canadian restaurant owners must ensure they follow the guidelines set by the Canada Revenue Agency (CRA). Tips and gratuities are considered taxable income, and servers must report them...