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Aric Wong, CPA, MBT
DIRECTOR — TAX
Aric Wong is a Director in the tax department at KROST. He has been in the public accounting profession for over 10 years.
His areas of expertise include tax planning and compliance for high-net-worth individuals, partnerships, and corporations. He is knowledgeable in all areas of taxation, including personal, corporate, partnership, nonprofit, trust, estate, and gift taxation. He services clients in various industries, including but not limited to restaurant, real estate, professional services, and financial services industries.
Aric is currently a 3rd-degree black belt in Taekwondo and has coached kids and adolescents as young as 3 years old.
- KROST, Tax Director (Present)
- KROST, Senior Tax Manager (2022)
- KROST, Tax Manager (2019 — 2021)
- KROST, Tax Senior (2015 — 2018)
- Aguiar Novack & Associates, Tax Staff (2011 — 2015)
- Master of Business Taxation, University of Southern California
- Bachelor of Science in Business Administration with Emphasis in Management, California State Polytechnic University, Pomona
- Member of California Institute of Certified Public Accountants (CalCPA)
Aric's Thought Leadership
This is one of the articles in the KROST Quarterly Hospitality Issue, titled “What Happens When You End a Lease Early for a Nonprofitable Location” by Aric Wong The pandemic has caused many restaurants to close due to a loss of revenue. Even after the reopening of dine-in restaurants in California, many anticipate significantly reduced Read the full article…
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, CPA A Win Read the full article…
The U.S. Supreme Court has agreed to hear a case challenging the constitutionality of the Patient Protection and Affordable Care Act (PPACA) in California v. Texas. Previously known as Texas v. US in the lower courts, the U.S. Court of Appeals declared that the requirement for individuals to carry health insurance was unconstitutional. This decision was largely based Read the full article…
The overhaul of the Tax Cuts and Jobs Act (TCJA) has proven to be a challenge since it took effect in 2018. As tax advisors struggle to understand the implications for their clients, the resource-deprived Internal Revenue Service has made efforts to issue guidance on how to implement many of the complex provisions. One of Read the full article…
Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “The Battle to be a Profitable Restaurant: How to Deal with Employee Theft” by Aric Wong, CPA, Manager – Tax. “With 72,000+ restaurants in California, the state does everything possible to ensure taxes are properly reported, collected, and paid Read the full article…
Taxpayers constantly feel entitled to deduct losses from their businesses and investments. However, taxpayers need to be aware of the multiple loss rules provided by the Internal Revenue Code that limit the ability to deduct these losses from their trade or businesses. Taxpayers need to take their losses through four different loss limitations before one Read the full article…