At KROST, we offer tax, accounting, and consulting services with an industry-focused approach. Our objective is to educate on timely issues impacting you and/or your business.
Come join our webinars and learn.
The Impact of the 2020 Election on Wealth and Taxes
Thu, Oct 22, 2020 9:00 AM - 10:00 AM PDT
Philip Clark, CFP®, will discuss the differences between the two presidential candidates’ tax proposals as we look toward the next four years. Each candidate’s proposed plan differs drastically from the other with unique impacts on individuals and businesses depending on the outcome of this race.
During this webinar, you’ll hear insights on how the elected candidate could impact:
- Individual Taxes
- Capital Gains & Step Up in Basis
- Tax Credit for Retirement Savings
- Pass Through Business Income
- Corporate Tax Rates
- Payroll Taxes
KROST’s Recipe for Accurate and Efficient COGS
Our webinar will cover the real-life benefits a client can expect from KROST’s implementation of Plate IQ and COGS-Well. The KROST team provides a unique perspective derived from decades of first-hand experience running high-level restaurants, accounting expertise, and long-standing partnerships with leading industry technology companies. This partnership allows KROST to outline a systemized process that will utilize both platforms in the most effective manner by creating cost-saving efficiencies outlined below or tailored to your specific business needs.
- Stout relationships with our software partners result in advantageous pricing for KROST clients
- Direct/Personalized support sitting between you and the software support team
- Leveraging Technology to manage your Bill Pay, Inventory, and COGS
- Validating current information, ensuring recipes are accurately scaled, and/or converting pre-existing recipes into proper format
- Future menu and recipe development based on elevated reporting that you now receive
- Vast knowledge of products and industry-standards
- Creating processes to improve efficiency while tailoring them to your business model
- Time savings via automation, the new value of time in our COVID environment
- We are the bridge between Technology and Operations
Derek Johnson, KROST CPAs, is a Restaurant Operations Consultant at KROST. He has 15 years of operational and leadership experience with a variety of restaurant concepts.
PPP Forgiveness Application Review Service for Lenders and Borrowers
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA. KROST’s subject matter experts have kept up-to-date with these changes to ensure that its clients are abiding by these rules.
KROST is now using this expertise to provide a PPP Loan Forgiveness Review Service for lenders and borrowers. This will involve independently checking all the calculations made by the borrower as part of the forgiveness application, including eligible expenses, full-time equivalent employees, and salary/hourly wage reductions to ensure compliance with SBA rules. In addition, KROST will review the supporting documentation provided by the borrower for verification.
In this webinar, learn about the KROST PPP Loan Forgiveness Review Service for lenders and borrowers, and how it addresses the forgiveness process in a timely and efficient manner, while ensuring compliance with the SBA’s rules and guidance.
The PPP Loan Forgiveness Application Process
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA. KROST’s subject matter experts have been consulting with PPP borrowers throughout the process, beginning with assistance on loan applications and subsequently collaborating with clients to best use the loan proceeds to ensure the expenses are permissible and maximize forgiveness.
Now, it is time to consider a loan forgiveness application. We reviewed the key rules, calculations, timing, and procedures involved in the process. We also presented the details of the KROST PPP Forgiveness Application Review Service and how it can help borrowers ensure they qualify for forgiveness and to maximize the amount of forgiveness.
PPP Rule Changes and Forgiveness Update
Following the passing of the Paycheck Protection Program Flexibility Act (PPPFA), and subsequent updates from the SBA, Paren Knadjian, head of M&A and Capital Markets hosted a webinar that:
(a) Gave details on PPP rule changes and clarifications
(b) Highlighted how these changes affect forgiveness of the loan
(c) Demonstrated the latest version of the KROST PPP Budgeting and Optimization Tool
(d) Gave an update on EIDL and Main Street Loan Programs
The Employee Retention Credit: A Valuable Alternative to Emergency Loans
Informative webinar that provided the latest guidance on applying for the Employee Retention Credit (ERC). The credit, equal to 50% of the first $10,000 of “qualified wages” paid by an “eligible employer,” could be a valuable alternative for those who either did not apply or did not qualify for PPP and other emergency loans. The session will focus on who is eligible for the credit, how to compute the amount of the credit, how to claim the credit, and how it interacts with other benefits provided by the CARES Act.
PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness
Paren Knadjian, Head of M&A and Capital Markets at KROST, gave an update on the latest guidance on the use of PPP loan proceeds, best practices on the use of proceeds, and demonstrated the KROST PPP Budgeting and Forgiveness Maximization Tool. This proprietary tool allows users to plan, budget and track expenditure on a week-by-week basis and has all the current known rules on forgiveness programmed into it.
Emergency Loan Programs for Economic Relief
Webinar that covered the latest update on the state and national emergency loans available for small to medium-sized businesses (under 500 employees).