KROST Celebrates 80 Years of Success in Pasadena

February 18, 2019By KROST

KROST is proud to announce the celebration of its 80th anniversary. Since 1939, the firm has assisted thousands of businesses and individuals to reach their financial goals through tax, accounting, and consulting services. KROST is headquartered in Pasadena, California with four strategic locations throughout Greater Los Angeles. In 2018, KROST experienced outstanding growth of 31.41% … Read More

New Partnership Audit Rules – “Centralized Partnership Audit Rules”

February 15, 2019By KROST

The 2015 Bipartisan Budget Act brought changes to partnership audit rules beginning with taxable years 1/1/18. Under the old “TEFRA” rules, if an item on a partnership tax return was being audited, the audit would extend to the partners individually. The partner’s individual tax returns would be under audit at that point. Under the new … Read More

KROST Featured in LABJ: KROST Adds West L.A. Accounting Firm to Roster

February 14, 2019By KROST

KROST was recently featured in the Los Angeles Business Journal article, “KROST Adds West L.A. Accounting Firm to Roster”.  Below is a teaser of the article. “Pasadena-based accounting and consultant firm Krost has purchased West L.A.-based Gaynor & Umanoff, according to the firms. Terms of the transaction were not disclosed. Chris Gaynor and Richard Umanoff, Gaynor … Read More

Can OZ Work for You? Accounting for Qualified Opportunity Zone Funds

January 28, 2019By Keith Hamasaki

Below is a preview of one of the articles in the new KROST QUARTERLY Real Estate Issue, titled “Can OZ Work for You?” by Keith Hamasaki, CPA If you’ve ever wanted to help revitalize an economically distressed community but couldn’t justify it economically to generate enough capital from investors, then the new Opportunity Zone Program … Read More