IRS Announces New Tip Reporting Program

July 28, 2006By KROST CPAs

Publication: IRS Website WASHINGTON — The Internal Revenue Service today released formal guidance on its new tip reporting procedure, the Attributed Tip Income Program (ATIP) ATIP expands the existing IRS tip reporting and education program by offering employers in the food and beverage industry an additional tip reporting program. ATIP reduces industry recordkeeping burdens, has simple Read the full article…

The ABCs of Watching Out For Employee Theft

October 25, 2005By KROST CPAs

Publication: KROST Monthly News Release Approximately 95% of all businesses now experience some type of employee theft totaling an estimated $52 billion dollars a year. Cash-based businesses such as restaurants and bars are even more vulnerable to theft by employees. While it would be nearly impossible to eliminate employee theft and dishonesty completely, we can gain Read the full article…