In order to make money in the restaurant business, prime costs should generally be in the 60 percent to 65 percent range. How that breaks down between food and labor is less important than achieving a prime cost maximum that produces a satisfactory profit.
The standard mileage rate is by far the easiest to use. With the standard mileage rate, you take the deduction of a specified number of cents for every business mile you drive. The IRS sets the standard mileage rate each year. The 2017 Mileage Rate is 53.5 cents per mile. To figure out your mileage deduction, simply multiply your business miles by the standard mileage rate for the specific year. Example: Ed, a salesperson, drove his car 20,000 miles for business during 2017.
2. Calculate your business mileage. Mileage deducted for business purposes includes travel to clients or customers, going to a business meeting away from a regular workplace, going to a temporary workplace if you have a regular place of work or traveling among several offices within a region.. Calculate your total at the end of the year. Multiply the total number of miles traveled throughout the year by the mileage rate for each category. For instance, you may deduct 14 cents per mile when working for charitable organizations and 57.5 cents per mile traveled for business.