How to Treat Inherited Individual Retirement Accounts

May 24, 2022By Kimberly Hoang
How to Treat Inherited Individual Retirement Accounts

The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 Read the full article…

Tax Credit for Hiring New Employees

June 3, 2000By Kimberly Hoang
Tax Credit for Hiring New Employees

This is one of the articles in the KROST Quarterly Hospitality Issue, titled “Tax Credit for Hiring New Employees” by Kimberly Hoang, CPA. The restaurant industry took a massive hit during the pandemic. With statewide mandates enforcing closures, layoffs were necessary. As vaccines have become widely available, the industry is slowly making its way back Read the full article…