![[Webinar Replay] The PPP Loan Forgiveness Application Process](https://www.krostcpas.com/wp-content/uploads/The-PPP-Loan-Forgiveness-Application-Process.jpg "[Webinar Replay] The PPP Loan Forgiveness Application Process")
If you missed our webinar led by Paren Knadjian, Head of M&A and Capital Markets at KROST, there is a recording available. This webinar goes over the KROST PPP Loan Forgiveness Review Service for lenders and borrowers, and how it addresses the forgiveness process in a timely and efficient manner, while ensuring compliance with the … Read More
We are happy to announce the release of our newest quarterly magazine! The Manufacturing Issue highlights some of the hot topics in manufacturing, including accounting for PPP, transfer pricing, Foreign-Derived Intangible Income (FDII), R&D tax credits, and more. What You’ll Find Inside This Issue: Accounting for PPP Loans and Forgiveness by Keith Hamasaki, CPA Manufacturers … Read More
Restaurants have been integral to the KROST business since 1939, and during this unprecedented time, the restaurant industry has been severely impacted by the COVID-19 restaurant closures. Although restaurants are beginning to phase out their re-openings, it is likely that the industry would not return to their full capacity until the next year. These COVID-19 … Read More
The July 15 tax-filing deadline is quickly approaching, remember to pay your taxes on time. Earlier this year the Treasury Department and the IRS provided federal tax filing and payment relief to individuals and businesses in response to the COVID-19 pandemic. The deadline changes also apply to disaster victims, 2016 refunds, extensions, and IRS contributions. … Read More
The following article was written by the IRS. View the original source here: https://www.irs.gov/newsroom/employers-can-grant-paid-leave-for-covid-19 Under the Families First Coronavirus Response Act, employers can grant paid leave for an employee to take care of their health needs related to COVID -19 or to care for their family members. This relief helps ensure employees are not forced … Read More
The following article was written by the IRS. View the original source here: https://www.irs.gov/newsroom/employee-retention-credit-available-for-businesses-affected-by-covid-19 The employee retention credit is designed to encourage businesses to keep employees on their payroll. The amount of the credit is 50% of qualified wages paid up to an annual limit of $10,000, which equals a maximum credit amount of $5,000 for each employee … Read More
![[Interview] The Vertical Coronavirus Pandemic](https://www.krostcpas.com/wp-content/uploads/Interview-The-Vertical-Coronavirus-Pandemic.jpg "[Interview] The Vertical Coronavirus Pandemic")
As Featured in Accounting Today In some ways, the impact of the coronavirus is universal, but a surprising number of industries face very specific and unique problems. Fortunately, they have specialized CPAs and accountants to give them advice and help that is specific to their situations. Here, four accounting firms share the problems their clients … Read More
Los Angeles, CA – May 11, 2020 – Los Angeles-based firm, KROST CPAs & Consultants, has launched several programs to assist businesses during the Coronavirus pandemic. Since April 2020, the firm has assisted hundreds of businesses and individuals through the development of COVID-19 resources that have guided them through the process of choosing, applying, and … Read More
On April 24th, 2020, President Trump signed into law H.R. 266, known as the Paycheck Protection Program and Health Care Enhancement Act (PPPHCE Act) that will re-open the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program by allocating additional funds to both. The Act makes $484 billion of additional funding available … Read More
The following article is written by the IRS. View the original source here: https://www.irs.gov/newsroom/taxpayers-should-be-aware-of-coronavirus-related-scams Taxpayers should be on the lookout for IRS impersonation calls, texts and email phishing attempts about the coronavirus or COVID-19 Economic Impact Payments. These scams can lead to tax-related fraud and identity theft. Here’s what taxpayers should know: The IRS will … Read More
