2026 year-end checklist
Year-end moves and filing deadlines for restaurant, bar, cafe, and multi-unit hospitality owners.
- By Dec 31
Reconcile reported tips to POS data for every tipped employee.
- By Dec 31
Place new kitchen equipment, furniture, and remodel work in service.
- Ongoing
Keep offer dates, start dates, and eligibility records for new hires in case WOTC is renewed retroactively. The IRS has retired Form 8850.
- Jan 1, 2027
Connecticut's minimum wage rises to $17.48 while tipped cash wages stay at $6.38 and $8.23, and paid sick leave expands to employers with 1 or more employees.
- Feb 1, 2027
Issue W-2s that report cash tips (box 12, code TP) and tipped occupation codes (box 14b) correctly.
- Feb 1, 2027
File Forms 1099-NEC for contractors and other service providers paid $2,000 or more for services in 2026, but not for purchases of food or supplies.
- Before you file
Get a cost segregation study for any building purchased or built in 2026. There's no year-end deadline.
- With your return
Claim the FICA tip credit on Form 8846.
- Nov 1, 2027
File a Connecticut personal property declaration with each town's assessor for equipment and furniture owned on October 1, 2027.
Dates assume a calendar-year taxpayer. Some items require plan documents or elections that only your advisor or plan provider can complete.
Run this checklist with a tax advisor
In a consultation, we look at your payroll tip reports, recent returns, and any buildout costs, estimate your FICA tip credit, and tell you whether earlier years may be worth amending.