Our Chairperson, Gregory Kniss, CPA, Restaurant Practice Principal, Jean Hagan, and M&A and Capital Markets Principal, Paren Knadjian are attending the Restaurant Finance & Development Conference. The conference takes place from November 14th-16th and will be held at the Wynn Hotel in Las Vegas. Our team will be networking and attending sessions on topics such Read the full article…
Pasadena, California – KROST’s Chief Financial Officer, Donna Bateman, CPA, has been nominated for the Los Angeles Business Journal 2022 CFO Awards. We will be supporting Donna at the 16th annual CFO Awards event on Thursday, September 22nd, at the Millennium Biltmore in Los Angeles. The event will be hosted in the evening and will Read the full article…
The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 Read the full article…
Join us for our upcoming webinar Pro Forma – Projecting the Financial Future of Your Restaurant on Tuesday, June 21st at 10AM PST. During this session, industry expert, Derek Johnson, will discuss the current success rate of restaurants and the primary reasons they don’t succeed. In addition, we will review how proper planning and realistic Read the full article…
Running a small to medium-sized business has always come with a unique set of challenges. Securing credit, managing employees, and staying involved in the day-to-day running of the business creates a constant set of obstacles to be addressed by the business owner, leaving very little time for a life outside of work, let alone applying Read the full article…
On February 9, 2022, the California Governor signed Senate Bill 113 (SB113). SB113 addresses numerous tax provisions, including correction to issues related to Assembly Bill 150 (AB150). AB150 allowed certain owners of qualified passthrough entities to work around the individual $10,000 federal limit on SALT deductions by paying a new elective state pass-through entity (PTE) Read the full article…
The IRS announced on June 18th that they will be looking at hundreds of high-income tax returns between July 15th and September 30th. They are expected to be looking at not only the taxpayer’s individual returns but any business-related pass-through entities as well. These reviews create exposure for athletes and entertainers who have high income and Read the full article…
![[UPDATED] How to Secure an SBA Loan if Your Business is Impacted by the Coronavirus (COVID-19)](https://www.krostcpas.com/wp-content/uploads/How-to-Secure-an-SBA-Loan-if-Your-Business-is-Impacted-by-the-Coronavirus-COVID-19.jpg "[UPDATED] How to Secure an SBA Loan if Your Business is Impacted by the Coronavirus (COVID-19)")
As of Friday, March 13, 2020, President Trump declared a national emergency to combat the Coronavirus (COVID-19). Businesses across the nation may be suffering dramatic losses due to the unprecedented response to the virus. Health officials are recommending social distancing guidelines, and travel has severely decreased, among other restrictions, which has caused business to slow Read the full article…
![[Update] Tax Deadlines Pushed Back: Federal and California Measures to Help Taxpayers through COVID-19 Pandemic](https://www.krostcpas.com/wp-content/uploads/How-Will-The-COVID-19-Affect-Your-Tax-Return-Deadline-1.jpg "[Update] Tax Deadlines Pushed Back: Federal and California Measures to Help Taxpayers through COVID-19 Pandemic")
The impact of coronavirus has been increasing rapidly. While Congress is still working on a proposal to stimulate the economy, both the federal government and the State of California have announced ways to help people get through this difficult time. Federal President Trump announced on March 11, 2020 that he would direct the Treasury to Read the full article…
Nothing has gripped us quite like the Coronavirus (COVID-19). It has begun to affect all facets of life, from travel bans, school closures, meetings, and even financial reporting. Generally Accepted Accounting Principles (GAAP) has an Accounting Standard Codification (ASC) that addresses unforeseen circumstances occurring after the balance sheet date but before the audit is issued. Read the full article…
