We are happy to announce the release of our first quarterly magazine! KROST Quarterly is a digital publication released by KROST CPAs & Consultants headquartered in Pasadena, California. The Tech Issue covers technology and accounting related topics from cryptocurrency to artificial intelligence.   Please click the link below to access the full version and subscribe…

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M&A Activity M&A activity in the Food & Beverage space remains healthy with just under 250 deals announced in Q1 2018, down from 370 deals on Q1 2017 (which was a very high quarter in terms of deal count and aggregate transaction value). The largest deal by far was the $23 billion Leveraged Buyout (LBO)…

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There is no single process that everybody follows when purchasing a business, and there are many factors that determine whether a business, once bought, will fulfill its desired purpose. But if there is one thing that will mitigate the chances of failure, and increase the chances of success, it is conducting detailed due diligence on…

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Are you planning to expand your restaurant business? Do you plan to open new stores? Do you need outside capital to fund that expansion? Here are five steps to take now to improve your chances of successfully raising capital – debt, equity, or both. 1. Make Sure Your Books are in Good Order Most restaurant…

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Before diving into global investment trends in Artificial Intelligence (“AI”) and Machine Learning (“ML”), it may be worth quickly defining them. To quote John McCarthy, widely recognized as one of the pre-imminent leaders in this space, AI is defined as “The science and engineering of making intelligent machines.” AI systems can perform tasks that normally…

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With the passing of the Tax Cuts and Jobs Act of 2017, many actors, writers, directors, and other professionals in the entertainment industry will likely see their taxes increase beginning in 2018. The entertainment professionals who earn wages are being hit the hardest because employee business deductions will no longer be allowed in 2018 going…

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Many taxpayers realized significant gains from the disposition of cryptocurrencies in 2017, and as tax season approaches, these taxpayers must compile accounting reports, review the latest tax guidance, and determine how to correctly report their transactions to the IRS. Coinbase has a new online tax report: In the summer of 2017, the IRS narrowed its…

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When it comes to technology, nothing has taken the business world by storm like cryptocurrency. However, something that slid under the radar and continues to slide under the radar with ever lasting effects are the changes to the Net Neutrality Rules. Net Neutrality is dead, but what does this even mean? Net Neutrality is the…

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Nowadays, it is not uncommon for taxpayers to have bank accounts and investments held in different countries. While there is nothing wrong with this, it is important to make sure you are in compliance with US tax filings with respect to foreign accounts and investments in order to avoid getting hit with penalties. There are…

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Due to the recently passed Tax Cuts and Jobs Act (TCJA), business owners who were looking to sell their business in 2018 may now be reconsidering. After all, the TCJA cuts corporate tax rates resulting in increased cash flow for profitable companies. While this is true, it is also worth considering that private company valuations…

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