Qualifying Requirements for Refundable Employee Retention Credit

April 6, 2020By Jean Hagan

Eligible Employers Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. An eligible Employer may not receive the Employee Retention Credit if the Eligible Employer receives a Small Business Interruption Loan under the Paycheck Protection Program that is authorized under … Read More

KROST Quarterly: Manufacturing Issue Now Available – Cybersecurity, Tax Incentives, Transactions, Trends and More

September 20, 2018By KROST

We are happy to announce the release of our second quarterly magazine! The Manufacturing Issue highlights some of the hot topics in manufacturing including cybersecurity, tax benefits and incentives, technological advances in manufacturing, and trends. What You’ll Find Inside this Issue: Manufacturers Beware: The Continued Threat of Cybersecurity Breaches, Hacking & Malware by Keith Hamasaki, CPA … Read More

Law Update: Santa Monica Sick Leave Provisions

January 11, 2017By KROST

On January 1, 2017, the provisions of the sick leave law went into effect for the City of Santa Monica. For small businesses in Santa Monica with 25 or fewer employees, workers can earn up to 32 hours of sick leave. For larger businesses with 26 or more employees in Santa Monica, workers can earn … Read More

FUTA Credit Reduction

December 15, 2016By KROST

Original Post by Jane Park on RestaurantAccountants.com Recently, the U.S. Department of Labor announced that California and the Virgin Islands are subject to the 2016 FUTA credit reduction. The Federal Unemployment Tax Act or Federal Unemployment Trust Account(FUTA) is the law that structures the details on how states will operate their unemployment benefit programs. Employers … Read More

New Tangible Property Repair Regulations – Immediate Action Required

February 9, 2015By KROST

The IRS and taxpayers have long disputed whether to classify certain expenditures as either deductible repairs\supplies or as assets that have to be capitalized and depreciated. In attempt to resolve these controversies, the IRS released the final repair and capitalization regulations. These new rules are in full effect for the 2014 tax year and require … Read More

How Affordable is the Affordable Healthcare Act?

August 20, 2013By KROST

Now that the Employer Mandate part of the ACA had been pushed back to January of 2015, everyone gave a big sigh of relief – but should you? This changes the landscape significantly in regards to your compliance planning. As the economy is improving and jobs in the restaurant/service segment are increasing – what is … Read More