The Rehabilitation Tax Credit: What Historic Building Owners Should Know

August 15, 2019By KROST

The Historic Tax Credit (HTC) program, also known as the Rehabilitation Tax Credit, encourages individuals and business to invest in the rehabilitation of historic buildings. The tax reform legislation passed in December of 2017 allows these building owners to claim 20 percent of eligible improvement expenses against their federal tax liability. It is an incentive … Read More

Mid-Year Tip Check

August 5, 2019By KROST

It’s time to do a short analysis of your status, regarding tip reporting. The annual filing form 8027 for tipping establishments is calculated on an annual basis-reported to the IRS in February. A mid-year tip check gives you some time to correct any issues you may have with individual employees or your employee group. As … Read More

KROST Quarterly Magazine: The Financial Services Issue is Now Available!

July 30, 2019By KROST

We are happy to announce the release of our newest quarterly magazine! The Financial Services Issue highlights some of the hot topics in financial services including Sales Tax Nexus, QSBS, Carried Interests, Trader Tax Status, Family Office, and more. What You’ll Find Inside this Issue: The Qualified Small Business Stock Gain Exclusion by Matthew Weber, … Read More

Philip Clark, CFP® Joins Pasadena Tournament of Roses® Association

July 22, 2019By KROST

Our Wealth Management Director Philip Clark, CFP®, recently joined the Pasadena Tournament of Roses® Association, which hosts the Rose Parade and Rose Bowl football game every New Year’s Day in Pasadena, California. As one of 66 new members the association welcomed this year, Phil will contribute to the planning of this century-old tradition. KROST’s Principal … Read More

Minimum Wage Increases 2019

June 6, 2019By KROST

On July 1, 2019, the minimum wage will increase in the cities of Los Angeles & Santa Monica, and the County of Los Angeles. The City and County of Los Angeles Minimum Wage Ordinances both mandated annual wage increases until it reaches $15.00 per hour on July 1,2020. Small businesses (less than 25 employees) have … Read More

New Laws Impacting Restauranteurs – What You Need to Know

May 13, 2019By KROST

Every April, KROST travels to Sacramento to participate in the California Restaurant Association’s Restaurant Day at the Capitol. This year, Jean Hagan (Principal) and Robert Benson (Manager – Restaurant Operations) attended. This annual event affords KROST and the California Restaurant Association the opportunity to lobby directly to California’s legislators about pending legislative bills that impact … Read More

California’s Wage Order 7: What You Need to Know

May 9, 2019By KROST

Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “California’s Wage Order 7: What You Need to Know” by By Gina Gross – KROST Restaurant Accounting & Consulting. “Many restaurants have on-call policies that require employees to call in to find out whether they need to work their … Read More

The Restaurant Technology Industry: Trends and Funding

May 2, 2019By KROST

Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “The Restaurant Technology Industry: Trends and Funding” by Paren Knadjian, Practice Leader – M&A and Capital Markets. “Over the last ten years or more, customers have changed how they discover, book, socialize, interact, and pay at restaurants. As customers … Read More