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Into the Great Beyond Restaurant News

Assuming that travel will be back to normal by December 2020, we could assume that restaurants will be about 80% of their previous years’ sales by that time. Travel transportation has to get back to normal and travel reservations have to catch up as well; late December 2020 seems like a realistic goal to be at 80% of 2019 sales.

Actived: 3 days ago

URL: https://www.krostcpas.com/restaurant-news/into-the-great-beyond

Cyber KROST Audit and Attestation Services Los Angeles CPA

(6 days ago) 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.

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Meal Entertainment Deduction Family Meals Restuarant

(4 days ago) The 50% limitation under the previous law applies only to expenses for food and beverages for both entertainment and qualified travel under the TCJA. The deductibility (50%) of food and beverage expenses has not changed regarding the ability for businesses to entertain clients at lunch, dinner or at client events.

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Restaurant Revitalization Fund – Details

(Just Now) Amounts collected for another by a travel agent, real estate agent, advertising agent, conference management service provider, freight forwarder or customs broker. All other items, such as subcontractor costs, reimbursements for purchases a contractor makes at a customer’s request, investment income, and employee-based costs such as payroll

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Audit Advisory and Consulting Services Los Angeles CPA

(Just Now) 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.

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Agreed-Upon Procedures Audit and Attestation Services

(7 days ago) 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 …

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Waterfall Calculations Advisory and Consulting Services

(7 days ago) 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 …

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Checks and Balances Advisory and Consulting Services

(4 days ago) Checks and Balances. Our checks and balances advisory service is for the business owner that is ready to get out of the accounting trenches. Reporting accurate and timely information is critical to the success of your company, and the best way to ensure that it happens is with proper internal control procedures.

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Client Accounting Services (CAS) Get Help Managing Your

(1 days ago) 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…

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Keith Hamasaki CPA Assurance & Advisory Director Los

(1 days ago) 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 …

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Qualifying Requirements for Refundable Employee Retention

(9 days ago) Fully or partially suspends operation during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or; Experiences a significant decline in gross receipts during the calendar quarter.

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Family Office Services Bill Pay Services Los Angeles CPA

(8 days ago) 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…

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Audit Services Cybersecurity Audits Los Angeles CPA

(6 days ago) 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 …

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How to Secure an SBA Loan if Your Business is Impacted by

(4 days ago) Health officials are recommending social distancing guidelines, and travel has severely decreased, among other restrictions, which has caused business to slow down in various industries. Now that a state of emergency has been announced, companies can request some loan assistance to ease financial losses incurred during this tumultuous time.

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Hospitality Consulting Full Service Management Los

(8 days ago) Hospitality. Helping clients and operators achieve success in the hospitality industry requires not only a high level of experience, knowledge, and expertise, but it requires a special understanding of the needs and challenges of that industry.

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Expatriation Exit Tax

(6 days ago) Unrestricted travel into and out of the country. Each of these are examples of non-tax consequences. In the US, the IRS assesses an exit tax on individuals deemed “covered expatriates.” Giving up US citizenship may be a tax-triggering event for some individuals seeking this option.

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Coronavirus and Its Impact on Financial Reporting

(4 days ago) Coronavirus and Its Impact on Financial Reporting Keith Hamasaki 2020-03-25T12:40:47-07:00. 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

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Accounting Services Financial Reporting Los Angeles CPA

(4 days ago) Accounting Services. Running a successful business involves an immense amount of time and effort. Between effective operational management, labor and employment issues, marketing and administration, it can be hard to carve out a place for timely and in-depth financial oversight from the nuts and bolts of basic bookkeeping to high-level financial analysis all while keeping up on time-saving

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KROST Insights Accounting Blog Los Angeles CPA Firm

(Just Now) 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.

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Due Diligence Audit and Attestation Services Los

(8 days ago) 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 …

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The Difference Between Tax Credits Provided by FFCRA and

(1 days ago) Fully or partially suspends operation during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or

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Lease Accounting Advisory Advisory and Consulting

(Just Now) 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 …

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Accounting Policy Consulting Accounting Procedures Los

(2 days ago) Los Angeles-Based CPA Firm Receives High Praise from Accounting Today April 9, 2021 . Pasadena, CA. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today, Top 100 Firms, and Fastest-Growing Firms in the U.S. KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of …

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2020 vs. 2021 Employee Retention Credit Comparison Chart

(Just Now) 2020 vs. 2021 Employee Retention Credit Comparison Chart. Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. Eligible employers can receive a refundable payroll tax credit up to 70% of qualifying wages paid between January 1, 2021 and July 1, 2021.

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[Interview] The Vertical Coronavirus Pandemic

(3 days ago) In addition to the concierge and cargo company, BPB’s two other aviation industry clients provide fueling services. Those companies have seen a significant decline in flights they are servicing, following the ban on international travel and significant reductions to domestic travel.

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SBA loan Archives

(8 days ago) 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…

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Keith Hamasaki, Author at KROST

(7 days ago) 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.

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Jason Melillo, Author at KROST

(6 days ago) 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…

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FRF for SME Advisory and Consulting Services Los

(6 days ago) 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 …

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Third Party Food Delivery Service Agreements

(6 days ago) With the recent recession and economic uncertainty, many upscale, full-service restaurants have opted into these services. But, you can’t put a thirty dollar restaurant plate into a Styrofoam container and hope for the best. It’s important to consider which menu items are going to travel well while maintaining their integrity.

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Client Profile Mary Sue Milliken Restaurant Consulting

(1 days ago) Travel to the ends of the earth! In the past few years, I’ve been to Egypt, Mongolia, Scotland, Turkey, Croatia, Peru. I have an allergy to hotels so I always rent a house where I can cook and relax. I find that it is really important for me to take complete breaks in order to really be focused and highly functioning when I am at work.

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Business Management Cash Reporting Los Angeles CPA Firm

(4 days ago) 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…

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How Restaurants are Navigating the Pandemic: Service

(5 days ago) This statement takes in a lot of different metrics, including how deep of a hole we get into, when a vaccine becomes available, and when we get back to a normal entertainment and travel scenario. Operating in this environment is difficult and requires us to view restaurant ownership as an entirely different business, one that requires a great

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Jason Melillo CPA Audit Principal Pasadena CPA Firm

(1 days ago) Jason Melillo, CPA, is the Principal of KROST and KBKG, Tax Credits, Incentives, and Cost Recovery. Jason is the practice leader of the Accounting, Advisory and Assurance Services Practices. His areas of expertise include foodservice, manufacturing, real estate, retail, as well as technology and professional services industries. Jason has been

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Financial Management Cash Flow Statements Los Angeles CPA

(5 days ago) 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…

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Accounting News Archives

(Just Now) Pasadena, CA. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today, Top 100 Firms, and Fastest-Growing Firms in the U.S. KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, Read the full

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KROST Quarterly Employee Retention Credit Provides

(3 days ago) This is a preview of one of the articles in the new KROST Quarterly Manufacturing Issue, titled “Employee Retention Credit (ERC) Provides Benefits for Manufacturing Employers ” by Jim Estrella, CPA, MSA.. For manufacturers who experienced a suspension in operations or decline in business compared to 2019 due to the COVID-19 crisis, the Employee Retention Credit (ERC) may be a …

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Game-Changing Tax Matters for Athletes

(9 days ago) Game-Changing Tax Matters for Athletes. This is a preview of one of the articles in the new KROST Quarterly Sports & Entertainment Issue, titled “Game-Changing Tax Matters for Athletes” by Brad Pauley, CPA. There were many deductions professional athletes were able to take under the old tax law, however, under the new law, deductions taken

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Keith Hamasaki Archives

(9 days ago) 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.

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CCPA Attestation Audit and Attestation Services Los

(1 days ago) 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 …

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Ancillary Tax Reporting Annual Tip Reporting Los

(8 days ago) 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…

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Christopher H. Gaynor, CPA, MS Principal Tax

(7 days ago) • Extensive Foreign Travel • Tennis. Tax Thought Leadership. KROST Welcomes New Principal – Evelyn Fernandez August 17, 2021 . 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

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Small Business Archives

(4 days ago) 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…

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Martin Belak-Berger, CPA Tax Principal

(6 days ago) The firm separated in 1987, and Martin continued with a successor firm, Good, Gagerman, and Berns. After several years as a Tax Manager, he returned to Block, Plant, and Eisner as a Tax Manager in 1989 and was promoted to Tax Partner in 1992. His areas of expertise are centered around helping the owners of closely-held businesses successfully

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Uncategorized Archives

(8 days ago) 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.

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Outsourced Chief Financial Offcer Los Angeles CPA

(9 days ago) 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…

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Paycheck Protection Program First & Second Draw Loans

(1 days ago) Also excludes net capital gains or losses, taxes collected for and remitted to a taxing authority if included in gross or total income (such as sales or other taxes collected from customers); proceeds from transactions between a concern and its domestic or foreign affiliates; and amounts collected for another by a travel agent, real estate

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