Employers Can Grant Paid Leave for COVID-19

May 28, 2020By KROST

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

Employee retention credit available for businesses affected by COVID-19

May 19, 2020By KROST

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

May 19, 2020By KROST

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

KROST CPAs & Consultants Provides Much-Needed Help to Businesses Affected by the Economic Downturn Caused by the COVID-19 Pandemic

May 11, 2020By KROST

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

IRS Tax Tip: COVID-19 Economic Impact Payments – Beware of Scams

April 16, 2020By KROST

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

California Sets Threshold for Sales Tax

March 3, 2020By KROST

The South Dakota v. Wayfair 2018 case overturned the physical presence test, meaning out-of-state retailers selling to South Dakota residents are obligated to collect sales tax even if they do not have a physical presence in the state. It was expected that many states would issue laws similar to South Dakota and California has done … Read More

KROST Restaurant Seminar: Protecting Your Business

February 17, 2020By KROST

KROST is hosting a dynamic restaurant seminar, Restaurant Management: Protecting Your Business, on March 2nd, 2020 from 2:00 PM – 4:00 PM with guest speakers Corbin Wade of Hub International and Jesse Caryl of BCK Legal. The seminar will be followed by a cocktail reception sponsored by Hub International and BCK Legal from 4:00 PM … Read More

CalSavers Program Information

February 12, 2020By KROST

What Gov. Jerry Brown signed into law Senate Bill 1234, also known as CalSavers, on 9/29/2016. CalSavers mandates all California employers offer either a retirement plan for their employees OR join the CalSavers program. CalSavers defines employees as anyone over 18, paid by W-2, and worked for 30 days. Tiered Deadlines June 30, 2020 Businesses … Read More

Real Estate Market Update – January 2020

January 24, 2020By KROST

Presented by Philip Clark, CFP®, January 2020 As 2019 ended, home loans were cheaper than they were at the start of the year. Looking at Freddie Mac’s Primary Mortgage Market Survey, the average interest rate on a 30-year, fixed-rate mortgage was 3.74% on December 26, which was up from 3.68% a month earlier, but well … Read More