New Features Added in Aloha POS v6.5
Take advantage of new features added in Aloha POS v6.5 that help maximize the guest experience, improve your staff operations and manage and analyze your data.
Click here to learn more about how to gain access to the latest Aloha versions of software!
New Year Brings New Restaurant Regulations
Restaurants in several states and municipalities became subject to some new rules on Saturday, including revamped health regulations in Denver that make potential punishments for so-called “critical” violations pricier but less public...Smart Blog on Restaurants
How Your Customers Are Using Social Media
A growing number of diners have indicated that they use social media sites to “friend,” locate or follow a restaurant and find out about promotions or menu items. Social media is a new and quickly growing way for restaurants to interact with their guests...Read More
2011 Depreciation Benefits
On December 17, President Obama signed legislation that extends and expands the depreciation bonus through 2012. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 provides 100 percent depreciation bonus for capital investments placed in service after September 8, 2010 through December 31, 2011.
5 Reasons Depreciation Can Benefit You
Depreciation is one of the most powerful business accounting and tax saving tools, but many business owners don't appricate it. It's kind of the Rodney Dangerfield of expenses - it gets no respect. Here are 5 important reasons that depreciation can benefit you:
Depreciation is a non-cash charge - this is a good thing
Depreciation is something that you can get a deduction for in the current year even though you might not have spent money to buy it in that year. For instance, you bought a computer in 2009 for $5,000. The life of a computer is 5 years, so you will get a write off for the $5,000 over the next five years. Even though in 2010 you did not spend any cash for the computer (since you bought it for cash in 2009), you will get a deduction for that computer you bought in 2009 when you purchased it. Therefore, in 2010, you get a deduction for a non-cash expense.
Depreciation affects your company's profit and loss statement and your balance sheet
Depreciating assets give you more income on your profit and loss statement and increases your assets on your balance sheet. The computer you bought in 2009 for $5,000 less the depreciation of $1,000 taken in 2009 leaves a net income of $4,000 and increases your assets on your balance sheet by the same $4,000. Any third party looking at a business' financial statements likes to see increased net income and an increase in assets over liabilities.
Accelerated depreciation allows you to take more depreciation later
When you depreciate, or "write off," an asset over its useful life, you can take more depreciation in the initial years with accelerated depreciation. Each class of assets has a life and table you are entitled to each year (your CPA can show you this table). You can also make an election under Section 179 to take all of the depreciation in the year of purchase. Please note that there are new bonus depreciation and Section 179 regulations for 2011. The benefit of accelerated depreciation is that you are getting more of a tax deduction in earlier years and therefore you get a return of more of your tax money earlier versus later.
Timing depreciation can help you reduce taxes in higher income years
It is important to realize that depreciation is not now or never...it is now or later. Sometimes taking the deduction in later years is better. If you expect to be in a higher income bracket in later years, it would not be in your best interest to accelerate the deduction but instead to write off the asset utilizing the straight line method (that is, an equal amount of depreciation every year); thus saving the deduction for the years you are in a higher tax bracket.
Depreciation is complicated, but worth the trouble
The determination of the depreciation method that will work best for you can be time consuming; however, the benefits of taking the depreciation deduction in the years that most benefit your financial statements and tax returns are worth the effort.
In the Company of Heroes
Written by Andy Heyman, COO of Radiant Systems
We all love heroes. I was an Aquaman freak growing up, partly because he could talk to fish and partly because I didn’t even know how to take a breath. I watched super hero shows religiously and they always figured out how to save the day. Read more about how this translates into business practices at Radiant.
Tips for Dealing With Disgruntled Diners
The realization that it's January and everything having to do with the Holidays is history hit hard this morning. The ornaments, gifts, and other signs of the past month are now stashed and with the exception of a few Grinches who will certainly surface to lodge their complaints about holiday service, the memories of an enjoyable season will linger. Or will they?...
Upgrade Your Operations
Upgrade your restaurant's terminals and keep your technology current with the latest POS hardware. For a limited time, simply trade in your current Radiant P1510 terminal towards a new P1515 model at a special low price! Special Financing Also Available...learn more
