We are happy to announce the release of our newest quarterly magazine! The Hospitality Issue highlights some of the hot topics in the hospitality industry including tax credit for new employees, double-dipping, lease provisions, and HR solutions. What You’ll Find Inside this Issue: Tax Credit for Hiring New Employees By Kimberly Hoang A Win for Read the full article…
In our last article in this series, we covered the different types of trusts that can be established. In this article, we’ll discuss uncommon trusts that can be utilized. Other Trusts That Can Be Established Blind Trust The trustees of a blind trust manage the assets in the trust without the beneficiaries’ knowledge. The beneficiaries Read the full article…
![[Feature] PulseOne: Tech Talk](https://www.krostcpas.com/wp-content/uploads/Pulse-one-Tech-Talk-1-1.jpg "[Feature] PulseOne: Tech Talk")
Our Assurance & Advisory Principal, Keith Hamasaki, was featured on the latest PulseOne Tech Talk with Chad Wiggins. Keith discussed data analytics and ways it could help businesses as well KROST’s new service, KROST Business Intelligence which is a cloud-based data solutions platform that can translate unstructured, impossible-to-read data into structured, real-time insights. If you Read the full article…
Our CEO, Jason Melillo, Assurance & Advisory Principal, Keith Hamasaki, Assurance & Advisory Senior Manager, Steve Chhuor, and Assurance & Advisory Manager Rebecca Hickle, are attending the AICPA ENGAGE Conference. The conference takes place from June 6th through June 9th and will be held at the Aria Resort and Park MGM in Las Vegas. Our Read the full article…
Please note the following updates for 2022 Estate and Gift Exclusions: Estates of decedents who passed away during 2022 have a basic exclusion amount of $12,060,000, up from a total of $11,700,000 for estates of decedents who passed away in 2021. The annual exclusion for gifts increases to $16,000 for the calendar year 2022, up Read the full article…
Restaurant companies with multiple units often collect management fees from the unit level to fund C-Suite management operations. The purpose of a management fee can be different for various companies. Still, the traditional purpose is to compensate a working owner or a working corporate staff for their support of the various units. If you have Read the full article…
Los Angeles, California – May 7, 2022 – KROST’s Assurance and Advisory Principal, Keith Hamasaki, CPA, has been elected President of the California Society of Certified Public Accountants (CalCPA) Los Angeles Chapter. Keith has served as a board member for the CalCPA LA Chapter since 2015 and has gained years of experience through his roles Read the full article…
Pasadena, CA. – KROST CPAs and Consultants, a tax, accounting, and consulting firm based out of Los Angeles, has launched KROST Business Intelligence (KBI), offering dynamic insights into realization, staff utilization, project turnaround, and more. For law firms that want to reduce their timekeeping clutter and manage their practice more effectively. The cloud-based tool provides Read the full article…
The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 Read the full article…
Join us for our upcoming webinar Pro Forma – Projecting the Financial Future of Your Restaurant on Tuesday, June 21st at 10AM PST. During this session, industry expert, Derek Johnson, will discuss the current success rate of restaurants and the primary reasons they don’t succeed. In addition, we will review how proper planning and realistic Read the full article…
