Trust Check-Up: 3 Key Things In Reviewing and Updating Your Trust
According to a recent study, 66% of Americans have no estate plan to protect their assets. If you have a trust, it’s essential to review and update it regularly, to make sure it still meets your goals and objectives. It is believed that 20% of Americans with estate plans have updated it within the last Read the full article…
The Impact of Power of Attorney and Understanding the Differences
We often get questions about what to do when a person wants to give up their authority over their personal and financial life. If they do not already have a Revocable Living Trust that provides for a transfer of that authority, then the next best thing is a Power of Attorney (POA). The person who Read the full article…
Update #2: IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available
The Internal Revenue Service (IRS) has issued another announcement as of CA-2023-02. The following modifications apply to the original tax relief victims of severe winter storms, flooding, landslides, and mudslides in California. The relief period for making tax payments and return filing has been extended from December 27, 2022, through May 15, 2023. Previously, the Read the full article…
Press Release: KROST Welcomes Grant Miller as Principal of Tax
LOS ANGELES, CA [January 30, 2023] — Los Angeles-based CPA firm, KROST CPAs & Consultants, welcomes Grant K. Miller, CPA, EA, as Principal of Tax. To begin his new role as Tax Principal, Grant will be based in our Woodland Hills office and he will provide direction and leadership to further the success of our Read the full article…
California Conformity Update: IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available
The Governor’s office announced on January 13, 2023, that California will conform to the filing extensions granted by the Internal Revenue Service (IRS) for California storm victims. This means that filing and payment deadlines for affected individuals and businesses in California are extended to May 15, 2023. On January 10, the IRS announced tax relief Read the full article…
IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available
On January 10, the Internal Revenue Service (IRS) announced tax relief for California storm victims in most counties (see list of counties below). This tax relief applies to individuals and businesses located in disaster areas. The announcement postpones tax filings and payment deadlines that are due from January 8, 2023, through April 30, 2023, including Read the full article…
KROST HR Solutions For Restaurants & Other Small To Medium-sized Businesses
This is one of the articles in the KROST Quarterly Hospitality Issue, titled “KROST HR Solutions For Restaurants & Other Small To Medium-sized Businesses” by Lisa Arangua Did you know that KROST offers Human Resource Solutions to companies that do not have access to, or resources for full-time HR personnel? We recently spoke to Lisa Read the full article…
The Trust “Oil Change” – Reviewing and Updating Your Trust
As one annually services their automobile for an oil change and routine maintenance, it is also prudent to review your trust to confirm that your original documents are consistent with your wishes. At a minimum, one should look at the following provisions of their trust to determine if any changes are required: Successor Trustee – Read the full article…
2022 Year-End Tax Planning Strategies for Businesses
In the last few months of the year, it is important to consider year-end tax planning opportunities as many may provide both immediate and long-lasting financial benefits. This year has brought incredibly unique challenges and significant change. Businesses that have not yet explored year-end tax planning should take an immediate inventory of their situation to Read the full article…
2022 Year-End Tax Planning for Individuals
As calendar year 2022 comes to a close, it is a good time for taxpayers and their advisors to start thinking of planning moves that will help lower their tax bill for this year and possibly the next. This year, we have seen significant financial uncertainty and an inflation rate not seen since the 1980s, Read the full article…
