AE Tax Advisors

I own three restaurant locations in the Chicago area. Restaurants run on thin margins, so every dollar matters. My old CPA was fine at filing but never once mentioned the FICA Tip Credit or cost segregation for restaurant buildouts. I found out about AE Tax Advisors from another restaurant owner who could not stop talking about the money they saved him.

AE Tax performed cost segregation studies on all three of my locations. They separated out kitchen equipment, walk-in coolers, specialized electrical, grease traps, ventilation hoods, and interior finishes -- all of which qualify for accelerated depreciation. The reclassification was significant across three properties.

The bigger surprise was the FICA Tip Credit. I had no idea the government gives employers a credit for the FICA taxes paid on employee tips above minimum wage. With thirty tipped employees across three locations, the credit was substantial. AE Tax went back and claimed it for three prior years through amended returns.

They also identified employees who qualified for the Work Opportunity Tax Credit, adding another layer of savings I never knew about. Total savings came to $73,000.

The team was professional and easy to work with. They coordinated with my POS system to pull tip data and handled the amended returns entirely. If you own a restaurant and your CPA has never mentioned tip credits or cost segregation, you need to make a call to AE Tax Advisors today.