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…
This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Understanding the Complexities of Tax for Professional Athletes”. Passthrough Entity Tax Credit The Passthrough Entity Tax Credit, commonly referred to as the State and Local Tax (SALT) cap workaround, was introduced to mitigate the impact of the federal cap on Read the full article…
Loan-out corporations are widely used by sports and entertainment professionals as a tax and financial strategy. These corporations offer a wide range of benefits to individuals, such as tax advantages and enhanced financial flexibility. Actors, athletes, musicians, and other high-income earners become an employee of the corporation, and the corporation is hired with services rendered Read the full article…
As restaurant operators struggle to find enough staff to maintain their operations, many owners are considering improving their benefits package as an incentive for employees. Benefits expansion is a challenging and always tricky strategy for restaurant operators. An organization needs to be certain that the perks provided are valuable to the employee group through surveys Read the full article…
