Management Fees, It’s Time To Review

June 2, 2022By Jean Hagan

Restaurant companies with multiple units often collect management fees from the unit level to fund C-Suite management operations. The purpose of a management fee can be different for various companies. Still, the traditional purpose is to compensate a working owner or a working corporate staff for their support of the various units. If you have Read the full article…

How to Treat Inherited Individual Retirement Accounts

May 24, 2022By Kimberly Hoang

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…

What is FRF for SME?

April 12, 2022By Rebecca Hickle

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…

Updated Tax Provisions: Corrections to Issues Related to Assembly Bill 150 (AB150)

February 14, 2022By David Troost

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…

5 Powerful and Innovative Software Tools for Your Team

October 19, 2021By KROST CPAs

This is one of the articles in the KROST Quarterly Technology Issue, titled “5 Powerful and Innovative Software Tools for Your Team.” Today, more than ever, companies are looking for powerful tools to make decisions and drive innovation during these uncertain times. In some instances, innovation is needed to keep track of sales or tasks Read the full article…

KROST Welcomes New Principal – Evelyn Fernandez

August 17, 2021By KROST CPAs

Los Angeles-based CPA Firm, KROST CPAs and Consultants, welcomes Evelyn Fernandez, CPA, MST, as a new Principal. Evelyn has over 15 years of experience in the public accounting profession, providing strategic advice and tax planning to her clients. Her areas of expertise include inbound and outbound tax planning for individuals and multi-national entities, tax planning Read the full article…