As featured by the California Restaurant Association as an Industry Insight. Below is a summary of the record-retention requirements for sales and use tax, federal and state income tax, federal and state employment tax, and federal and state requirements for various other employment-related records. This article was written in partnership with Zaller Law Group. Record-keeping Read the full article…
One of the most used accounting software today is QuickBooks. Having a QuickBooks certified ProAdvisor can make a huge difference in achieving your financial goals. Here are a few benefits of having a trained professional on your side. Expertise: Certified ProAdvisors undergo thorough training to master the latest QuickBooks Online tools. You can trust they Read the full article…
In the world of financial transactions and business operations, staying compliant with tax regulations is essential. One often-overlooked yet critical aspect is the proper handling of Form W-9: Request for Taxpayer Identification Number and Certification. In this blog post, we’ll delve into the importance of Form W-9, its role in vendor payments, the types of Read the full article…
Protecting your financial assets and ensuring the safety of your deposits are crucial considerations for individuals and businesses alike. In this article, we will dive into the benefits of IntraFi Network Deposits, a service designed to enhance the security of your deposits. Whether you’re looking to protect your personal savings, business funds, or any other Read the full article…
Cloud computing is the future of the accounting industry. Essentially cloud computing is the storing, managing, and processing data on the internet instead of storing information on local hard drives or servers. Information can be accessed from any device and is easily shared with management, team members and trusted advisers. Cloud computing simplifies the accounting Read the full article…
Recipients of the Restaurant Revitalization Fund(RRF) have until March 11, 2023 to use the funds appropriately, to ensure grant forgiveness. Entities that received RRF need to submit a Restaurant Revitalization Fund Program Post Award Report (SBA Form 3173) detailing how expenses were used. The SBA will require supplemental documentation to make sure the funds were Read the full article…
Did you know that we provide Client Accounting Services (CAS)? CAS can be a cost-effective way to have high-level financial reporting without having to hire a team of Certified Public Accountants and accounting professionals. At its core, CAS is a shift from traditional compliance-based accounting to a 360-advisory mindset. CAS is a fully customizable service, Read the full article…
This is one of the articles in the KROST Quarterly Technology Issue, titled “Disruption and Innovation – Streamlining Client Accounting Services (CAS)” by Sossi Bekarian Matti, CPA, and Peter Minaian. The COVID-19 pandemic forced many businesses to adapt and make significant changes to their practices. Executive and public health orders directed the public to stay Read the full article…
We are happy to announce the release of our newest quarterly magazine! The Technology Issue highlights some of the hot topics in the technology industry including Client Accounting Services (CAS), Nonfungible Tokens, the Effect of Upcoming Changes to IRC Section 174 on the Software Development Industry, and more. What You’ll Find Inside this Issue: Nonfungible Read the full article…
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA regarding the PPP and EIDL loans. KROST’s subject matter experts have compiled a list of frequently asked questions below: Question: How are full-time equivalent employees calculated in the 2nd PPP? Read the full article…
