Restaurants Care Resilience Fund

April 21, 2021By Jean Hagan

Jean Hagan, Principal, serves on the Board of the California Restaurant Association Foundation. She is excited to share that in addition to funding employees’ needs through Restaurants Care, they have also been able to create a resilience fund for restauranteurs now. Through some major funding from SoCal Gas, PG&E, and SDG&E, they have been able … Read More

Restaurant Revitalization Fund – Details

April 19, 2021By Paren Knadjian

1. Introduction 2. Eligible Entities 3. Other Eligibility Criteria 4. Interaction of RRF with other SBA loans 5. Calculation of Funding Amount 6. Eligible Uses of Funds (Eligible Expenses) 7. Timeframe for Using Funds 8. Use of Funds Validation 9. How to Apply 10. Apply through SBA Restaurant Partners 11. Apply Directly through SBA 12. … Read More

Are you missing out on the Employee Retention Tax Credit (ERTC)?

April 13, 2021By KROST

If you have not looked into Employee Retention Tax Credits, then you need to reach out to your relationship manager or contact us right away to see if you qualify. It is worth a quick assessment. We can help you claim the credit and receive cash refunds up to $5,000 per employee in 2020 and … Read More

Los Angeles-Based CPA Firm Receives High Praise from Accounting Today

April 9, 2021By KROST

Pasadena, CA. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today, Top 100 Firms, and Fastest-Growing Firms in the U.S. KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, … Read More

KROST Sponsors AICPA’s PCPS George Willie Ethnically Diverse Student Scholarship & Internship Program

April 2, 2021By KROST

Pasadena, CA. – KROST CPAs and Consultants, the Los Angeles-based firm, has announced their co-sponsorship of the American Institute of Certified Public Accountants’ (AICPA) Private Companies Practice Section (PCPS) George Willie Ethnically Diverse Student Scholarship & Internship Program. This scholarship and internship program will benefit ethnically diverse full-time students pursuing an accounting degree. The George … Read More

Changes in Reporting Requirements for Foreign-Owned Domestic Disregarded Entities

March 22, 2021By Evelyn Fernandez

Foreign-owned domestic disregarded entities have not had filing requirements in the past unless an election was made to treat it as a corporation, known as “check the box.” Disregarded entities are most commonly single-member LLC (SMLLC). Generally, income tax and reporting requirements would not be reported separately. Rather, they would have been reportable on the … Read More

IRS Extends Tax Filing Deadline for Individuals to May 17th

March 18, 2021By KROST

The Internal Revenue Service has postponed the April 15 tax payment and filing deadline for individuals to May 17, allowing more time to file your 2020 Federal Form 1040 income tax return. California conforms to the federal change and many other states to follow the IRS lead. The recent $1.9 trillion COVID-19 relief bill signed … Read More