Blog Layout

Restaurant Thrives by Teaming up with NonProfit

Aug 14, 2020

An organization’s ability to turn on a dime and creatively adapt to changes in circumstances is critical these days. A New Jersey nonprofit called Be Awesome to Somebody demonstrated this during the COVID-19 pandemic.

The organization, which usually supports international humanitarian work, teamed up with a local boutique ramen restaurant to support first responders and health care workers. They launched two temporary, nonprofit pop-ups selling takeout, delivery pizza and Thai rotisserie chicken at discounted prices. (Ramen, it seems, isn’t a great candidate for portable meals.) 

Customers can add a contribution to their bill to pay for a half-price donated meal for first responders or someone in need. Profits are used to provide more meals. The project also has allowed the restaurant to bring back some employees who had been laid off when it closed.

This material is generic in nature. Before relying on the material in any important matter, users should note date of publication and carefully evaluate its accuracy, currency, completeness, and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.

Share Post:

By Sarah Rose Stack 15 Apr, 2024
President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act into law in late 2022, but much of the wide-reaching retirement legislation is being phased in over time. There are some significant changes in 2024 and 2025 that may help nonprofit employers recruit and retain employees. This article presents what organizations need to know. A brief sidebar looks at how SECURE 2.0 boosts the advantages of qualified charitable distributions (QCDs), possibly leading to larger gifts for nonprofits.
By Sarah Rose Stack 15 Apr, 2024
The tax code allows an individual to claim a deduction for business debts that have become worthless. But qualifying for the deduction may be more complicated than one would think. In a recent case, the IRS denied more than $17 million in bad debt deductions on the grounds that the advances in question represented equity rather than debt, hitting the taxpayer with millions of dollars in taxes and penalties. This article recounts the U.S. Tax Court case Allen v. Commissioner. Allen v. Commissioner (T.C. Memo 2023-86).
By Sarah Rose Stack 01 Apr, 2024
During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.
Show More
Share by: