Donation Update on Jean’s 86 My Hair for Restaurants Care Fundraiser
In May, our Business Management Principal, Jean Hagan joined Restaurants Care in their 86 My Hair campaign to raise money for restaurant workers impacted by the pandemic. Jean pledged to shave her head if we reached a goal of $25,000 in donations. We have raised $15,465 so far and hope to reach our goal soon. … Read More
How Restaurants are Navigating the Pandemic: Service, Safety, and Support
The restaurant industry has never experienced what we are going through right now. I spend all my time consulting with responsible operators to figure out how to continue operations, keep staff and guests safe, and maintain cash flow. Hundreds of meetings have the same theme: we will fight and do whatever is necessary to keep … Read More
Let’s 86 Jean’s Hair for Restaurant Workers Impacted by COVID-19
Restaurants have been integral to the KROST business since 1939, and during this unprecedented time, the restaurant industry has been severely impacted by the COVID-19 restaurant closures. Although restaurants are beginning to phase out their re-openings, it is likely that the industry would not return to their full capacity until the next year. These COVID-19 … Read More
Jean Hagan Featured on the SoCal Restaurant Radio Show
Jean Hagan, Principal and leader of KROST’s restaurant practice, was featured on the SoCal Restaurant radio show hosted by Andy Harris on May 9th, 2020. 48,000 listeners and hundreds of live streamers tuned in as Jean discussed the future of dining out and provided sound advice on how restaurants should gradually prepare for the return … Read More
Restaurant Update: Into the Great Beyond
As discussions about the success of flattening the curve of the pandemic are encouraging everyone that we will get through this eventually, now the page turns to how do we get reopened and get our businesses back up and operating. The first thing everyone has to do is recognize that the restaurant industry after this … Read More
Qualifying Requirements for Refundable Employee Retention Credit
Eligible Employers Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. An eligible Employer may not receive the Employee Retention Credit if the Eligible Employer receives a Small Business Interruption Loan under the Paycheck Protection Program that is authorized under … Read More
Jean Hagan Brings Decades of Restaurant Operations Experience to the Culinary Institute of America as Newly Appointed Adjunct Professor
Jean Hagan, Principal of KROST CPAs & Consultants and leader of the firm’s restaurant consulting practice, has recently taken on an additional title as Adjunct Professor of Restaurant Operations and Management Strategies at the Culinary Institute of America (CIA). Her first course, Operations and Management Strategies for the Restaurateur, began this fall. Jean teaches the … Read More
Mid-Year Tip Check
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
Minimum Wage Increases 2019
On July 1, 2019, the minimum wage will increase in the cities of Los Angeles & Santa Monica, and the County of Los Angeles. The City and County of Los Angeles Minimum Wage Ordinances both mandated annual wage increases until it reaches $15.00 per hour on July 1,2020. Small businesses (less than 25 employees) have … Read More
Year End Updates
As the year ends, we need to review some of the changes coming in January 2019. Please see below for a short summary of the issues that affect the restaurant industry in California. Minimum Wage Increase at State Level Current for unincorporated areas of Los Angeles City, Los Angeles County, Malibu, and Santa Monica minimum … Read More
