We are happy to announce the release of our newest quarterly magazine! The Sports & Entertainment Issue highlights some of the hot topics in sports & entertainment including tax issues for athletes, Loan-Out Corporations, Qualified Business Income Deduction, and more. What You’ll Find Inside this Issue: Game-Changing Tax Matters for Athletes By Brad Pauley, CPA … Read More
Los Angeles-based tax and accounting firm, KROST, recently brought on restaurant industry titan Chef Phil Kastel (co-creator of nationally recognized Public School gastropubs) who will serve as the firm’s Restaurant and Culinary Consultant. Established in 1939, KROST has a long history in the restaurant space having pioneered accounting technology that was the precursor to what … Read More
Our Mergers and Acquisitions practice leader, Paren Knadjian, will be attending the Association for Corporate Growth(ACG) Los Angeles Business Conference. Join us for the conference from September 17th to September 18th at the The Beverly Hilton Hotel located at 9876 Wilshire Blvd, Beverly Hills, CA. ≫Register The ACG LA conference will bring together business advisors, deal … Read More
Every successful restaurant operator knows that developing an annual budget is a time-consuming, tedious project. Advantages of having an annual budget include being able to anticipate expenses, set targets for growing the business and staying within financial limits. A restaurant budget will help you recover from unexpected road-blocks, plan for profitability and potential challenges. KROST’s … Read More
Our Mergers and Acquisitions practice leader, Paren Knadjian, will be speaking at the Private Directors’ Association to discuss the role of board directors in M&A transactions. Join us for the panel the morning of September 12th from 7:30am – 9:30am at the Law Offices of Polsinelli located at 2049 Century Park East, Suite 2900. Breakfast … Read More
Tax staff Randall Poe recently published an article for our newest KROST Quarterly Magazine: The Financial Services Issue titled “Trader Tax Status: Do You Qualify?”. WHAT IS TRADER TAX STATUS? Trader tax status is a special set of rules that allow traders to treat trading activity as an ordinary business. Trader status allows taxpayers to … Read More
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
INSIDE Public Accounting (IPA) named KROST CPAs & Consultants and its affiliated tax consulting practice Best of the Best and Top 200 Firm for the fourth year in a row. The firm placed 109th on the prestigious top 200 list, a substantial leap from 157th in 2016 when it first made the rankings. Recipients of … Read More
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
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
