Restaurants Are the Next Big Coworking Trend

Spacious members working at Crave Fishbar in New York City’s Upper West Side.

“If you walk past Crave Fishbar on a weekday afternoon, you might make the mistake of thinking it’s open for lunch. The restaurant, located on New York City’s Upper West Side, certainly looks busy enough. On a recent Thursday visit, I counted a few dozen people sitting in the restaurant’s booths or at the bar. Most of them were hunched over their laptops. A few were quietly taking phone calls. Curiously, no one was talking, no one was eating, and no one was there for lunch.

Crave has gotten into the coworking business. In April, the restaurant partnered with a startup called Spacious to transform its dining room into a weekday workspace. After all, in an age where everyone seems to have a side hustle, why shouldn’t a restaurant? Founded in 2016, Spacious bills itself as a cheaper, more flexible alternative to traditional coworking spaces like WeWork.”

“Brian Owens, the restaurant’s owner, said the Spacious partnership has been a welcome source of revenue in an industry where profit margins are tight. Crave has another location, in Midtown East, which is open for lunch because it’s near offices and other businesses. But the Upper West Side, Owens said, is a dead zone on weekday afternoons.”

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Great News for Restaurants as IRS Reaffirms Deductions for Entertaining

“The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year — write-offs for wining and dining clients.

The agency said Wednesday companies can still deduct 50 percent of meals while entertaining clients and customers, clearing up confusion about whether tax law changes last year had completely eliminated that benefit.”

“Kathy Petronchak, the director of IRS practice and procedure at Alliant Group and the chair of the meals and entertainment task force at the CPA group, said that the guidance and examples “align with what we had hoped to see with the clear distinction between entertainment and allowable business expenses for meals.”

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