KROST Restaurant Accountants are here to help you navigate everything from your day-to-day operations to tax updates. As regulations and new trends develop daily, many restauranteurs struggle to keep up with the ever-changing landscape. In the latest edition of our newsletter, our experts detail important topics that will help keep your restaurant ahead of the game. Get updated on new tax codes concerning meal & entertainment expense deductibility, the elimination of the depreciation category for qualified restaurant property, and changes to tip distributions & tip credits. Is your restaurant business prepared for the year ahead?
Does the New Tax Code Affect Your Business?
There are several changes in the new tax code that may or may not affect your sales. We are particularly concerned about lunch and daytime event sales, as these are the areas that could be affected the most... » Read More
5 Steps to Take Now if You Plan to Expand Your Restaurant Business
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… » Read More
Free Ride Home After Drinking?
In 2015, alcohol-impaired driving (involving a driver or motorcycle operator with a blood alcohol concentration (BAC) of 0.08 grams per deciliter or higher) contributed to 914 deaths or 28.8% of all traffic fatalities in California… » Read More
Lunch Business – Old & New
I grew up outside of Philadelphia (so yes – Fly Eagles Fly)! I’m not going to disclose my age and will hereafter refer to this time as “back in the day”. So, back in the day, there was a famous restaurant near Head House Square called… » Read More
The Big Change on Tip Distributions and Tip Credits
On December 15, 2017, the Federal Labor Department notified the Office of Management and Budget that it intends to rescind the current rule (FLSA Sec. 203 “m”) that restaurant owners can only distribute pooled tips… » Read More
Restaurant Industry Tax Update
As the dust is settling from tax reform, restaurant owners should be aware of some changes that may have a substantial impact on their tax liability, both positively or negatively. In this post, we discuss the rules related to capital expenses and depreciation for restaurateurs… » Read More
National Restaurant Association Show
KROST is attending the National Restaurant Association Show in Chicago on May 19-22. The NRA show is a mixture of exciting demonstrations, networking, sessions tools, and gadgets, pertaining to… » Details
Ctuit Software User Conference
KROST is attending the Ctuit Software’s Annual User Conference, an invite-only event occurring on April 24-26 in Sonoma, California. There will be over 100 restaurant industry… » Details
The Adventures of the Restaurant Site Assessment
Here at KROST, we have been conducting Restaurant Site Assessment to help give operators and owners an insight into their operations and we wanted to share some of the interesting issues that we have come across. Sometimes, they even surprise us... » Read More
El Cholo Cafe
We are fortunate to have clients that are an integral part of the history of dining in Los Angeles, El Cholo Cafe is one of those.
El Cholo Cafe traces its history all the back to their first restaurant opened which opened in 1924 on Broadway and Santa Barbara Street (near the Coliseum). It has remained a family business... » Read More
"Jean and her team at Krost have been instrumental to the success in opening and operating our restaurants. Their attention to detail, “360 degree” knowledge of the restaurant industry and deep understanding of finance, tax and operations have proven..." » Read More
- Steve Rich, Bottlefish Holdings, LLC and Flax & Rosenfield Capital Partners