Happy Thanksgiving from KROST

November 23, 2022By KROST CPAs

We’re thankful for incredible clients like you this Thanksgiving. Without you, we would not be where we are today, and we are incredibly grateful to be able to serve you. May the joys of the holiday season extend throughout the coming year. We gave thanks this year by donating to the following organizations. If you Read the full article…

The State of California is Poised to Overtake Germany as World’s No. 4 Economy

October 31, 2022By Paren Knadjian

California residents are used to hearing, and oftentimes experiencing, negative consequences for living in the Golden State. Whether it be earthquakes, forest fires, homelessness, or drought, we also seem to be surrounded by a stream of news about businesses fleeing California for the lower tax and regulation-lite states of Texas, Nevada, or Arizona. However, contrary Read the full article…

Clients Spotlight: 10 Speed Coffee, Apple Pan, 1933 Group, Acme Hospitality, and El Paseo Inn Featured in Magazines

October 10, 2022By KROST CPAs

KROST’s Restaurant clients have been featured in magazines as some of the best in their own respective categories. We are fortunate to have clients that are an integral part of the food, beverage, and hospitality scene in California. We would like to recognize 10 Speed Coffee, The Apple Pan, 1933 Group, Acme Hospitality, and El Read the full article…

New Schedules K-2 and K-3 Reporting for Form 1065, Form 1120-S, and Form 8865 – What You Need to Know

August 11, 2022By Elvira Frencillo

For the tax year beginning in 2021, the IRS has implemented a new reporting requirement for partnerships, S corporations, and filers of Form 8865 to include Schedules K-2 (Partner’s Distributive Share Items – International) and Schedules K-3 (Partner’s Share of Income, Deductions, Credits, etc. – International) with their returns. What are Schedules K-2 and K-3 Read the full article…