This is one of the articles in the KROST Quarterly Hospitality Issue, titled “What Happens When You End a Lease Early for a Nonprofitable Location” by Aric Wong The pandemic has caused many restaurants to close due to a loss of revenue. Even after the reopening of dine-in restaurants in California, many anticipate significantly reduced Read the full article…
The U.S. Supreme Court has agreed to hear a case challenging the constitutionality of the Patient Protection and Affordable Care Act (PPACA) in California v. Texas. Previously known as Texas v. US in the lower courts, the U.S. Court of Appeals declared that the requirement for individuals to carry health insurance was unconstitutional. This decision was largely based Read the full article…
Taxpayers constantly feel entitled to deduct losses from their businesses and investments. However, taxpayers need to be aware of the multiple loss rules provided by the Internal Revenue Code that limit the ability to deduct these losses from their trade or businesses. Taxpayers need to take their losses through four different loss limitations before one Read the full article…
