It is no secret that a tremendous amount of work goes into opening and running a restaurant. One part of it is getting all the proper licenses and permits required to legally open and operate the business in the state, county and city it is located in. We are providing an overview of some of Read the full article…
Los Angeles, August 20, 2024 – KROST CPAs partners and colleagues are joining the global business advisory firm, EisnerAmper, in a combination expected to close in September 2024. For over 85 years, KROST has provided high quality services to the industry, and this adds a significant milestone for KROST as it continues to evolve in response Read the full article…
When contemplating a merger or acquisition, buyers and sellers must decide whether to structure the deal as a stock or asset sale. Each structure carries distinct implications for both parties, influencing aspects such as tax liability, legal considerations, and overall transaction complexity. Understanding these differences is crucial for making an informed decision. What is a Read the full article…
In the event of your death, a life insurance policy ensures that your family has the financial resources to maintain their standard of living. This is the number one reason why individuals consider life insurance. Although it’s the number one reason, it’s not the only reason. Life insurance can also be an essential estate planning Read the full article…
Effective February 16, 2021, Proposition 19 went into effect and made sweeping changes to property tax reassessments. Here are the current property tax exemptions available in California: 1. Homeowners’ Exemption The California Constitution provides for the exemption of $7,000 in assessed value from property tax assessment of any property owned and occupied as the owner’s Read the full article…
Following up on our article from last Thursday, there has been a major update for restaurants in the wake of California Senate Bill 478. The Bill, which went into effect on Monday, was set to outlaw surcharges or “hidden junk fees” from businesses, including food and beverage vendors in the state of California. However, last-minute Read the full article…
Legal update coming soon. We wanted to bring to your attention an important development regarding Senate Bill 478, California Attorney General’s new state law banning “junk fees.” Recently, the California Attorney General’s Office has posted FAQs shedding light on key aspects of this new legislation and its impact to the restaurant industry. Key Highlights of Read the full article…
As featured by the California Restaurant Association as an Industry Insight. Below is a summary of the record-retention requirements for sales and use tax, federal and state income tax, federal and state employment tax, and federal and state requirements for various other employment-related records. This article was written in partnership with Zaller Law Group. Record-keeping Read the full article…
Los Angeles, May 13, 2024 – United Filters International (UFI), a recognized leader in the design and manufacture of an expansive range of liquid filtration solutions, was recently sold to ENPRESS LLC, a leading manufacturer of composite pressure vessels and water filtration technologies. KROST was the exclusive financial advisor and the terms of the transaction Read the full article…
USA TODAY and Statista have named KROST one of America’s Most Recommended Tax Firms 2024! The recent collaboration between USA TODAY and Statista marks the first year the recognition is being presented. Statista conducted extensive research by surveying tax and accounting professionals and their clients. They were asked to recommend up to ten tax or Read the full article…
