Client Spotlight: Mamal Moinpour
Below is a preview of one of the articles in the new KROST QUARTERLY Real Estate Issue, titled Client Spotlight: Mamal Moinpour by Jonathan Louie, CPA. Recently, we had the opportunity to interview one of our tax clients, Mamal Moinpour, who owns real estate in the Greater Los Angeles and across the U.S. He is … Read More
KROST Celebrates 80 Years of Success in Pasadena
KROST is proud to announce the celebration of its 80th anniversary. Since 1939, the firm has assisted thousands of businesses and individuals to reach their financial goals through tax, accounting, and consulting services. KROST is headquartered in Pasadena, California with four strategic locations throughout Greater Los Angeles. In 2018, KROST experienced outstanding growth of 31.41% … Read More
New Partnership Audit Rules – “Centralized Partnership Audit Rules”
The 2015 Bipartisan Budget Act brought changes to partnership audit rules beginning with taxable years 1/1/18. Under the old “TEFRA” rules, if an item on a partnership tax return was being audited, the audit would extend to the partners individually. The partner’s individual tax returns would be under audit at that point. Under the new … Read More
The Battle to Be a Profitable Restaurant: How to Deal With Employee Theft
Most restaurant operators are engaged in a battle from new tax laws that adversely impact sales, to protect margins from increasing labor costs and food prices, and accounting for the added cost of delivery (driven by increased demand). Most of these examples are areas that are beyond an operator’s control. However, there are opportunities in … Read More
KROST Featured in LABJ: KROST Adds West L.A. Accounting Firm to Roster
KROST was recently featured in the Los Angeles Business Journal article, “KROST Adds West L.A. Accounting Firm to Roster”. Below is a teaser of the article. “Pasadena-based accounting and consultant firm Krost has purchased West L.A.-based Gaynor & Umanoff, according to the firms. Terms of the transaction were not disclosed. Chris Gaynor and Richard Umanoff, Gaynor … Read More
Investor Alert: If You Have Not Heard of DSTs, Time to Take a Look
Below is a preview of one of the articles in the new KROST QUARTERLY Real Estate Issue, titled “Investor Alert: If You Have Not Heard of DSTs, Time to Take a Look” by Jonathan Louie, CPA. In Los Angeles, from September 2007 to May of 2009, the cost of real estate declined by 60%, driving … Read More
Press Release: Women in Leadership – Los Angeles CPA Firm KROST Names So Sum Lee, CPA Principal
Los Angeles, California – February 7, 2019 – Los Angeles-based tax, accounting, and consulting firm, KROST, recently promoted So Sum Lee, CPA to Principal. So Sum, an industry veteran, who has 20 years of experience in tax and accounting, specializes in matters relating to real estate, restaurants, technology, entertainment and wholesale. So Sum joins seven … Read More
Section 45L Tax Credits: The Most Overlooked Tax Credit for Residential Developers
Below is a preview of one of the articles in the new KROST Quarterly Real Estate Issue, titled “Section 45L Tax Credits: The Most Overlooked Tax Credit for Residential Developers” by Brandon Val Verde. The §45L credit is a federal tax incentive for developers of apartments, condos, or spec homes that meet certain energy efficiency … Read More
Can OZ Work for You? Accounting for Qualified Opportunity Zone Funds
Below is a preview of one of the articles in the new KROST QUARTERLY Real Estate Issue, titled “Can OZ Work for You?” by Keith Hamasaki, CPA If you’ve ever wanted to help revitalize an economically distressed community but couldn’t justify it economically to generate enough capital from investors, then the new Opportunity Zone Program … Read More
KROST Kicks Off the Year by Announcing Merger with West LA Firm Gaynor & Umanoff
We are pleased to announce the merger of Gaynor & Umanoff, LLP with KROST CPAs and Consultants effective January 1, 2019. This new and exciting change will elevate our service model while maintaining our commitment to you, our clients. Two principals and two directors will join our leadership team, as well as 9 associates, growing … Read More