New Capital Gains Treatment for Carried Interests

September 11, 2019By Matthew Weber, CPA, MAcc

Carried interests have allowed investment fund managers to be compensated for services with income that qualifies as long-term capital gains, which is taxed at a lower rate than ordinary income. Numerous efforts have been made during the last two decades to cut back or eliminate the favorable tax treatment of carried interests by taxing all … Read More

Budget Service for 2020

September 9, 2019By KROST

Every successful restaurant operator knows that developing an annual budget is a time-consuming, tedious project. Advantages of having an annual budget include being able to anticipate expenses, set targets for growing the business and staying within financial limits. A restaurant budget will help you recover from unexpected road-blocks, plan for profitability and potential challenges. KROST’s … Read More

Paren Knadjian Speaking at the Private Directors’ Association

September 6, 2019By KROST

Our Mergers and Acquisitions practice leader, Paren Knadjian, will be speaking at the Private Directors’ Association to discuss the role of board directors in M&A transactions. Join us for the panel the morning of September 12th from 7:30am – 9:30am at the Law Offices of Polsinelli located at 2049 Century Park East, Suite 2900. Breakfast … Read More

Trader Tax Status: Do You Qualify?

September 4, 2019By KROST

Tax staff Randall Poe recently published an article for our newest KROST Quarterly Magazine: The Financial Services Issue titled “Trader Tax Status: Do You Qualify?”. WHAT IS TRADER TAX STATUS? Trader tax status is a special set of rules that allow traders to treat trading activity as an ordinary business. Trader status allows taxpayers to … Read More

2019 FinTech M&A and Market Report

August 21, 2019By Paren Knadjian

M&A and Capital Markets Practice Leader Paren Knadjian recently published an article for our newest KROST Quarterly Magazine: The Financial Services Issue titled “FinTech M&A and Market Report H1 2019”. The Financial Technology market (FinTech) continues to grow and flourish in 2019 with Venture Capital (VC) aggressively funding start-ups, Private Equity (PE) firms active in … Read More

The Rehabilitation Tax Credit: What Historic Building Owners Should Know

August 15, 2019By KROST

The Historic Tax Credit (HTC) program, also known as the Rehabilitation Tax Credit, encourages individuals and business to invest in the rehabilitation of historic buildings. The tax reform legislation passed in December of 2017 allows these building owners to claim 20 percent of eligible improvement expenses against their federal tax liability. It is an incentive … Read More

The Qualified Small Business Stock Gain Exclusion

August 14, 2019By Matthew Weber, CPA, MAcc

Tax Manager Matthew Weber, CPA, MAcc recently published an article for our newest KROST Quarterly Magazine: The Financial Services Issue titled “The Qualified Small Business Stock Gain Exclusion”. If you sell stock that has appreciated in value, then you must recognize a taxable capital gain. Sounds straightforward, right? While that may be true most of … Read More

Outsourcing Accounting for Family Offices

August 7, 2019By Stacey Korman, CPA, MST

Accounting Director Stacey R. Korman, CPA, MST recently published an article for our newest KROST Quarterly Magazine: The Financial Services Issue titled “Outsourcing Accounting for Family Offices”. The existence of the Family Office structure dates back millennia to the Roman Empire, where wealthy households utilized an administrator referred to as the major domus, or Head … Read More

Mid-Year Tip Check

August 5, 2019By KROST

It’s time to do a short analysis of your status, regarding tip reporting. The annual filing form 8027 for tipping establishments is calculated on an annual basis-reported to the IRS in February. A mid-year tip check gives you some time to correct any issues you may have with individual employees or your employee group. As … Read More