Consulting with a cybersecurity professional should be a top priority for tax businesses to protect their clients’ data. Tax preparers deal with a large amount of sensitive information including social security numbers, bank account numbers, EINs, etc. This makes them perfect targets for cybercriminals whose main objective is to file fraudulent tax returns. “As cybercriminals … Read More
Effective April 1st, 2019, a district tax increase will be applied in several localities throughout California. The rate increase is due to the passing of numerous Measures in various counties on November 6, 2018 to fund several improvements such as street improvements, maintain essential services, neighborhood safety, disaster preparedness, among others. To all restaurant operators, … Read More
As you may know, KROST offers M&A and Capital Markets Service. Through our resources, experience, relationships, and by running a proven process, we can identify more parties to engage. This increases bargaining power and improves the chances of a successful close. Paren Knadjian leads the practice and comes with over 15 years of experience in … Read More
KROST’s Assurance & Advisory Manager, Mara Garcia, CPA, was nominated for CalCPA’s 2019 Women to Watch Award. Mara Delivers Focus, Drive, and a Team Attitude Mara has spent her career translating complex concepts into understandable ideas, so her clients know where they stand in their business. She has successfully helped clients increase efficiencies in business … Read More
Enacted on December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was hailed as the largest major tax reform for the past three decades. In particular, the TCJA contains a series of favorable accounting method reforms that will impact countless of business taxpayers such as the use of cash method of accounting and the … Read More
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 More
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
Most restaurant operators are engaged in a battle from new tax laws that adversely impact sales, to protect margins from increasing labor costs and food prices, and accounting for the added cost of delivery (driven by increased demand). Most of these examples are areas that are beyond an operator’s control. However, there are opportunities in … Read More
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
Los Angeles, California – February 7, 2019 – Los Angeles-based tax, accounting, and consulting firm, KROST, recently promoted So Sum Lee, CPA to Principal. So Sum, an industry veteran, who has 20 years of experience in tax and accounting, specializes in matters relating to real estate, restaurants, technology, entertainment and wholesale. So Sum joins seven … Read More
