This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue, titled “Opportunity Zones and Cost Segregation” by Guest Contributor Artur Babaian Opportunity Zones are garnering increased interest across the country. Created by the Tax Cuts and Jobs Act (TCJA) in December 2017, taxpayers who meet the requirements for investing … Read More
This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue, titled “Challenges Facing the Real Estate Industry in the Wake of COVID & the Election” by So Sum Lee It’s no question that the economy as a whole was (and continues to be) stressed by the COVID-19 pandemic. Now … Read More
The COVID-19 pandemic has completely changed what we once thought was normal. With social distancing becoming a way of life, millions of Americans are now working remotely. For many, there is no certainty as to when or if they will return to their workplaces. As the pandemic drags on, many businesses have allowed their employees … Read More
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 More
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Year-end planning for 2019 takes place against the backdrop of the 2017 Tax Cuts and Jobs Act that had major changes in the tax … Read More
Taxpayers who donate to charity should check out the IRS’ resources to become aware of the tax regulations. Below are the top 6 IRS resources for taxpayers making donations: Tax Exempt Organization Search This tool can be used by taxpayers to find out if the organization they have contributed to qualifies as a charitable organization … Read More
Businesses that have engaged in year-end tax planning know that as 2019 approaches, it is time to develop, finalize and undertake a year-end tax planning strategy. Businesses that have not yet explored year-end tax planning should take an immediate inventory of their situation and develop a year-end 2018 tax strategy. Our office is ready to … Read More
KROST CPAs & Consultants – RestaurantAccountants.com was recently published in the July 17, 2017 edition of the Los Angeles Business Journal as part of the Food & Beverage Roundtable. The article features our very own Jean Hagan, Principal, and explores a series of timely, industry relevant issues regarding the food and beverage industry. As a … Read More
At the most basic level, estate planning can be defined as preparing for the dispersal of your assets after you’ve passed. Your assets might include your debts, miscellaneous personal belongings, automobiles, real estate, life insurance and more. Estate planning can also apply to medical decisions outlined in advance before a debilitating condition takes away autonomy. … Read More
Wondering whether it’s worth investing in a consulting firm for your accounting or taxes? While you could consider working with a standard CPA or tackling the issues yourself, there are a lot of benefits to going the full-service route for your finances. Here are just a few of the reasons any organization stands to gain … Read More
