We are happy to announce the release of our newest quarterly magazine! The Hospitality Issue highlights some of the hot topics in the hospitality industry including tax credit for new employees, double-dipping, lease provisions, and HR solutions. What You’ll Find Inside this Issue: Tax Credit for Hiring New Employees By Kimberly Hoang, CPA A Win Read the full article…
Restaurants Care is once again partnering up with SoCalGas, PG&E, SDG&E, and Wells Fargo to offer relief grants and services to restaurants in our local communities. These generous funders have made it possible to assist small businesses with their financial situation. The Resilience Fund provides cash grants of $3,000 and one year of small business Read the full article…
The House on Thursday approved more than $40 billion in COVID-19 assistance for restaurant owners who applied but were unable to receive assistance from the federal Restaurant Revitalization Fund. The Restaurant Revitalization Fund depleted quickly as the number of applicants surpassed the number of available funds. Just after three weeks of launch, the fund aided Read the full article…
Congress passed a $28 billion recovery fund, estimated to be enough to fund roughly 100,000 grants for the restaurant industry. However, in just the first few days of launching it, the SBA received about 186,000 applications. In fact, the latest reporting indicates that the number has grown to 266,000 applications, requesting a total amount of Read the full article…
Jean Hagan, Principal, serves on the Board of the California Restaurant Association Foundation. She is excited to share that in addition to funding employees’ needs through Restaurants Care, they have also been able to create a resilience fund for restauranteurs now. Through some major funding from SoCal Gas, PG&E, and SDG&E, they have been able Read the full article…
In 2020, the Restaurant Industry was projected to do $899 billion in sales. That expectation has since been adjusted down to $659 billion in sales, a $240 billion hit to the industry as a result of the pandemic. Every operator has felt the effects of the pandemic, and the most motivated, wasted no time pivoting Read the full article…
Jean Hagan (Principal, Restaurant / Business Management) and Paren Knadjian (Practice Leader, M&A, and Capital Markets, PPP Forgiveness) are hosting a free webinar with the California Restaurant Association (CRA), on the PPP Second Draw Program. Join our restaurant accounting and consulting experts on Thursday, January 14th at 10AM PT as they provide an in-depth look Read the full article…
With 2020 in the history books, many restauranteurs are looking at similar uncertainties in 2021 that the industry has been hurdling for the last nine months. Information is flying at us at near lightspeed, and it is easy to lose sight of the opportunities that lie within the voluminous pages of new legislation. However, one Read the full article…
KROST is hosting a dynamic restaurant seminar, Restaurant Management: Protecting Your Business, on March 2nd, 2020 from 2:00 PM – 4:00 PM with guest speakers Corbin Wade of Hub International and Jesse Caryl of BCK Legal. The seminar will be followed by a cocktail reception sponsored by Hub International and BCK Legal from 4:00 PM Read the full article…
The overhaul of the Tax Cuts and Jobs Act (TCJA) has proven to be a challenge since it took effect in 2018. As tax advisors struggle to understand the implications for their clients, the resource-deprived Internal Revenue Service has made efforts to issue guidance on how to implement many of the complex provisions. One of Read the full article…
