KROST

DECEMBER 16, 2021

California recently passed Assembly Bill 150 (AB 150), which allows qualified entities to pay tax on the income from an S Corporation, or partnership (reported to you on a K-1). The tax paid would result in a credit that you may use to offset the tax due on your California individual income tax return.

Tax 52

Tax Real Estate California tax return 52

KROST

NOVEMBER 20, 2020

Senate Bill 1447 was enacted on September 9, 2020, to offer new credit called Small Business Hiring Tax Credit to qualified California small business employers who can use it to offset state income tax or sales and use taxes. So Sum Lee, CPA , Principal. Tax , Real Estate , Technology , Hospitality.

California 82

California Tax Real Estate income tax 82

KROST

SEPTEMBER 21, 2020

While there are many benefits of a remote workforce, businesses should take a step back and ask the following questions: Does the business have employees who reside and work remotely in other states, and if so, what are the state payroll tax implications? Do the remote employees create income tax nexus in other states?

Tax 40

Tax income tax payroll tax tax return 40

KROST

AUGUST 6, 2021

AB150 allows for qualified partnerships, limited liability companies and S-Corporations to pay a new elective state pass-through entity (PTE) tax at the entity level and receive a federal tax deduction for state taxes paid on the electing owner’s share of allocable taxable income. David Troost, CPA, Senior Manager.

California 52

California Tax tax return Real Estate 52

KROST

MAY 19, 2022

Tax Long-Term Capital Gains at the Ordinary Income Rate. Under current tax law, long-term capital gains and qualified dividends are taxed at a maximum income tax rate of 20%. This means that the tax rate for such gain can go up to 37% or potentially to 39.6% So Sum Lee, CPA , Principal.

Real Estate 52

Real Estate Non-Profits Tax CPA 52

Going Concern

APRIL 5, 2024

CPA licensure program off to ‘promising’ start [ Journal of Accountancy ] 38 people huh? The Experience, Learn & Earn (ELE) program, a pilot program designed to help accounting graduates earn required academic credits for CPA licensure, has received early positive reviews.

auditor 97

auditor audit Oklahoma CPA 97