Tax Preparation Services

October 13, 2025

OBBBA 2025 Tax Changes for Restaurants & Franchises

If you own a restaurant, a growing franchise, or a multi-location concept, 2025 brought more than headlines—it brought real, operational tax changes that hit payroll, purchasing, pricing, and cash flow. Below is your guide to the One Big Beautiful Bill Act (OBBBA) and what to do next. We’ll translate law into decisions, with a bias toward the day-to-day of hospitality. Quick context: OBBBA became law on July 4, 2025, with IRS guidance rolling out since…

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Tax Preparation Services

October 8, 2025

1099-K 2025 for Restaurants & Franchises

If you run a restaurant, a franchise, or any multi-location concept, Form 1099-K isn’t just “another tax form.” It’s the reconciliation backbone for a big portion of your sales—delivery apps, online ordering, card readers, and marketplaces. The rules have changed (again), so here’s the plain-English version of what matters for tax year 2025—and how to stay audit-ready without losing a weekend to spreadsheets. Form 1099-K is an IRS information return that…

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Tax Preparation Services

October 6, 2025

Green Tax Incentives for Businesses

In today’s fast-evolving business world, going green isn’t just about doing what’s right for the planet—it’s a smart financial move. Lots of businesses, especially franchises and restaurants, are discovering that embracing environmentally sustainable practices can open doors to valuable tax savings and incentives that often go unnoticed. At QMK Consulting, a New York City-based accounting firm that specializes in franchise and restaurant accounting, we’re…

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Tax Preparation Services

October 3, 2025

2025 Tax Law Adjustments for Franchise & Restaurant Owners

As tax season unfolds in 2025, franchise and restaurant owners face critical changes that could impact their bottom line more than they expect. Each year, the IRS updates tax brackets, standard deductions, and reporting requirements to reflect inflation and economic shifts. This process is essential—it helps prevent unexpected tax increases just because of inflation. But understanding these adjustments isn’t always straightforward, especially when running…

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Tax Preparation Services

September 29, 2025

IRS Offer in Compromise: Settle Your Tax Debt for Less

Facing a tax debt that feels overwhelming can be incredibly stressful. The thought of owing thousands—or even tens of thousands—to the IRS can keep you awake at night. But here’s something many don’t realize: the IRS offers a way to settle your tax debt for less than what you owe. This solution is called an Offer in Compromise (OIC), and it could be the fresh start you need to regain control of your finances. Simply put, an Offer in Compromise is an…

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Tax Preparation Services

September 26, 2025

IRS Offer in Compromise Success Rate

Facing a hefty tax bill from the IRS can be one of life’s most stressful financial challenges. Fortunately, the IRS Offer in Compromise (OIC) program exists to give taxpayers a real chance at settling tax debt for less than what’s owed. But before you jump in, it’s important to understand the success rate of OIC applications—and what impacts your chances. At QMK Consulting, we’ve helped numerous franchise and restaurant owners in New York City navigate…

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Tax Preparation Services

September 22, 2025

IRS Offer in Compromise Payment Options Explained

Facing tax debt can be stressful, and navigating IRS payment programs can feel overwhelming. The IRS Offer in Compromise (OIC) program offers a way to settle your tax debt for less than what you owe—but understanding the payment options is crucial to making it work for your situation. Here’s a detailed guide that breaks down the IRS Offer in Compromise payment options, helping you decide which path fits your finances best. When submitting an Offer in…

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Tax Preparation Services

September 18, 2025

IRS Offer in Compromise & Tax Refunds Explained Clearly

If you’re struggling with tax debt, an IRS Offer in Compromise (OIC) can be a valuable tool to settle your tax liability for less than what you owe. But many taxpayers wonder what happens to their tax refunds when pursuing an OIC. Understanding how the IRS handles refunds during and after an OIC is crucial to managing expectations and planning your finances wisely. This comprehensive guide breaks down everything you need to know about IRS Offers in…

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