Tax saving opportunities for the hospitality industry

There are a number of grants & tax incentives available for the hospitality industry. Learn how you can be taking advantage of the Employee Retention Credit, a Reverse Sales & Use tax audit and additional tax strategies.

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    What is a reverse sales & use tax audit?

    A Reverse Sales and Use Tax Audit (“RSUTA”) involves reviewing a company’s purchasing data from previous years in order to identify purchases where the vendor charged the incorrect sales tax amount, or where the purchaser over-accrued use tax.

    Tax saving opportunities for the hospitality industry

    If you paid sales tax on the following, you’re eligible for a tax refund:

    • Food items given complimentary to guests
    • Capital improvements, such as new light fixtures
    • Charges for labor on regularly scheduled painting
    • Stays for guests that were six months or longer
    • Non-reusable items purchased by the hotel and furnished to guests free of charge including soap, shampoo, tissue, and other toiletries
    What is the Employee Retention Tax Credit (ERC)?

    Was your business affected by government shutdowns?

    Did you lose money due to the impact of the COVID-19 pandemic? Find out if you can claim up to $26,000 in tax relief per employee

    Get your free ERC insight

    What is the Employee Retention Tax Credit (ERC)?

    • A new tax credit for employers impacted by COVID-19 shutdowns or hardships.
    • This refundable tax credit is a relief measure for companies to keep employees on their payroll.
    • As a result of ERC expansion effective January 1, 2021, all employers who took PPP loans may be eligible for the ERC for 2020 and 2021.
    • ERC is new and legislation is changing, Leyton dedicates a staff of tax professionals to ensure your claim is compliant with all new IRS guidance.

    Lark hotels case study

    Hotel claims Employee Retention Credit (ERC) – Case Study

    Find out how a boutique hotel chain claimed the Employee Retention Credit with Leyton for financial recovery from COVID-19.

    Read more
    Lark hotel Case study

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