Business, Free News Articles, Legal and Law, Taxes and Accounting

Tax Court Case: Engineering Firm Overstated §179D Energy Efficient Commercial Building Property Deduction

COLUMBUS, Ohio -- In a recent case, Michael Johnson, et ux. v. Commissioner, the tax court denied the majority of a taxpayer's Energy Efficient Commercial Building Deduction under IRC §179D since it claimed a §179D Deduction exceeding the cost of the Energy Efficient Commercial Building Property (EECBP), says ICS Tax, LLC.

Background

The §179D Deduction is a federal tax incentive designed to promote taxpayers to construct energy efficient buildings as well as encourage building owners to make improvements to existing structures that reduce energy and power costs. At the time of the case, the §179D Deduction provided a maximum deduction of up to $1.80 per square foot of the building's floor area and applies to interior lighting systems, heating, cooling, ventilation, hot water systems or building envelope. A special rule under §179D provides that architects, engineers, contractors, environmental consultants or energy services providers may also be eligible for the incentive on public projects. However, the amount of the §179D Deduction is limited to cost of the EECBP.

For an updated summary of the heavily revised §179D rules, go to https://ICS-Tax.com/179D.

The Case

In this case, the taxpayer was an engineering firm in the business of installing heating, ventilation, and air conditioning (HVAC) systems. The taxpayer installed HVAC systems in a U.S. Dept. of Veterans Affairs (VA) hospital. This engineering firm had the §179D Deduction allocated to them such that they claimed a deduction of $1,073,237 for the 2013 taxable year, which was equal to the product of $1.80 and 596,243, the hospital's square footage. However, the cost of the EECBP was only $304,640. Hence, the tax court concluded that the §179D deduction was limited to the $304,640 cost of the EECBP.

Many professional service providers lack the expertise to properly analyze the complex tax rules and engineering requirements for the §179D Deduction. For a tax incentive requiring both a thorough knowledge of the tax code and engineering principles, it is essential to hire a fully qualified and experienced team that includes CPAs, attorneys, and professional engineers. It is also essential to thoroughly vet your §179D service provider, and at a minimum, perform an Internet search that can yield critical information.

Author: Alexander Bagne, JD, CPA, MBA, CCSP

ABOUT ICS TAX:

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies. ICS collaborates with taxpayers and their tax professionals to identify credits and incentives that reduce tax liabilities and increase profitability. ICS provides nationwide service through its offices throughout the country. Learn more: https://ics-tax.com/.

Related link: https://ics-tax.com/

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Business, Free News Articles, Government, Taxes and Accounting

Avenu Insights & Analytics Selected as Administrator for the City and County of Honolulu’s Transient Accommodations Tax

HONOLULU, Hawaii -- Avenu Insights & Analytics (Avenu) is pleased to announce that it has been awarded a contract by the City and County of Honolulu to provide tax administration for transient accommodations tax (TAT), an important revenue source for the agency and its citizens.

The City is partnering with Avenu to assist the City's TAT team in the Treasury Division of the Budget and Fiscal Services Department. As the administrator of the transient accommodations tax, Avenu will be responsible for collecting and processing payments from hotel/motel operators and short-term rental providers. Avenu will also be providing live taxpayer support to help answer questions that providers and operators may have. In addition to tax administration, Avenu has also been awarded a contract to provide monitoring, identification, and compliance services for short-term rentals.

The agency is confident in Avenu's expertise and experience, and the contract award represents a significant opportunity for the company to support the agency and its citizens by administering over 70,000 transactions annually for just the hotel/motel portion of the contract.

"Avenu is honored to have been selected and looks forward to working with the City and County of Honolulu to ensure the efficient and effective administration of these taxes," stated Paul Colangelo, Avenu CEO. "We are grateful for the opportunity to serve Honolulu and its citizens and are committed to delivering exceptional results and are excited to get started on this new venture."

About Avenu Insights & Analytics:

Over 3,500 state and local governments have partnered with Avenu to drive positive results for their communities through software administration and revenue enhancement solutions. Avenu's comprehensive software solutions digitally transform government by modernizing processes, providing online access to records, and reducing costs. Avenu also provides a robust ecosystem of revenue management services that identify and recover untapped revenue. State and local governments work closely with Avenu to increase revenue without raising taxes, streamline internal operations, and improve services by enhancing connectivity for constituents. Avenu is a portfolio company of Mill Point Capital.

To learn more, visit https://www.avenuinsights.com/.

About Mill Point Capital:

Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the business services, technology and industrials sectors in North America. Mill Point's experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit https://millpoint.com/.

Related link: https://www.avenuinsights.com/

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Business, Free News Articles, Taxes and Accounting

KROST Welcomes Grant Miller as Principal of Tax

LOS ANGELES, Calif. -- Los Angeles-based CPA firm, KROST CPAs & Consultants, welcomes Grant K. Miller, CPA, EA, as Principal of Tax. To begin his new role as Tax Principal, Grant will be based in our Woodland Hills office and he will provide direction and leadership to further the success of our tax department. He will also work closely with clients to manage their expectations for deliverables, services, and budgets.

"On behalf of the entire firm, I am excited to welcome Grant to our team. His experience and technical expertise complement and provide added depth to an already deep and talented team. We are looking forward to the wonderful things we can accomplish together!" said Lou Guerrero, CPA, MBT, Tax Practice Leader.

Grant brings a wealth of experience and knowledge to the firm, having worked in the public accounting profession for 27 years. He has a proven track record of providing exceptional service to clients and is well-versed in all areas of taxation, as well as compliance for high-net-worth individuals, partnerships, S Corporations, and C Corporations. Grant's areas of expertise include Manufacturing & Distribution, Entertainment, Technology, Estate & Trust, Real Estate, and Not-for-Profit industries.

Learn more about Grant: https://krostcpas.com/management/grant-miller

Learn more about our Tax Services: https://krostcpas.com/services/tax-services

For more information or any questions regarding our services, please contact us.

About KROST:

Established in 1939 in Pasadena, California, KROST, is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. Their focus is on recognizing opportunities and creating value for clients by equipping them with the tools to make better business and financial decisions for the future. As trusted advisors, clients depend on KROST to provide timely information, innovative solutions, and result-driven teamwork to ensure success.

Along with providing traditional services, such as Tax, Accounting, Assurance & Advisory, KROST also provides special services, including Client Accounting Services (CAS), Mergers & Acquisitions, Wealth Management, Tax Specialty Services, and KROST Business Intelligence (KBI).

Learn more: https://krostcpas.com/

Related link: https://www.krostcpas.com/

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Business, Environment and Ecology, Free News Articles, Green Business, Product Launches, Software, Taxes and Accounting

EnergyCAP expands offering to include financial-grade carbon accounting

BOALSBURG, Pa., -- EnergyCAP, a leading provider of energy and sustainability enterprise resource planning (ERP) software, today announced the launch of CarbonHub, a new solution that offers financial-grade carbon accounting and sustainability reporting.

For over four decades, EnergyCAP has been the trusted software provider for over ten-thousand energy and sustainability professionals across government, education, commercial sectors, and energy service companies (ESCOs). The company has a reputation for helping clients improve energy efficiency, streamline accounting processes, reduce resource consumption, and identify opportunities for sustainable operations. Recently, in August 2022, EnergyCAP further strengthened its capabilities by acquiring Wattics, a global leader in real-time energy management and analytics monitoring software.

EnergyCAP's newest solution, CarbonHub, serves as the central repository of all carbon emissions related data, sustainability reporting, and tracking performance towards decarbonization goals. It utilizes financial-grade utility data from the EnergyCAP platform and automatically applies standard or custom factors for auditable Scope 1, 2, and 3 reporting. CarbonHub can also calculate emissions from other inputs such as onsite generation, central plants, corporate travel, supplier and distributor emissions, and more!

With the launch of CarbonHub, EnergyCAP is now the most comprehensive energy and sustainability ERP solution on the market, offering a wide range of financial-grade data analysis and reporting capabilities, including:

* Portfolio-level energy management and utility bill accounting - Powered by EnergyCAP

* Financial-grade carbon accounting and sustainability reporting - Powered by CarbonHub, an EnergyCAP Solution

* Real-time energy analytics at the building and device level - Powered by Wattics, an EnergyCAP solution

"The launch of CarbonHub marks a significant milestone in the evolution of EnergyCAP," said Tom Patterson, CEO of EnergyCAP. "We have long been recognized for providing best-in-class portfolio-level energy management and utility bill accounting. The acquisition of Wattics and the launch of CarbonHub positions us as a leading provider of comprehensive energy and sustainability ERP software. We are committed to continually innovating to meet our customers' needs to ensure that we offer the best, single source of truth for all sustainability and energy teams around the globe."

CarbonHub is now available for existing and new EnergyCAP customers to bundle with their EnergyCAP solution. For customers seeking an independent carbon accounting solution, CarbonHub will be available to purchase stand-alone in the Summer of 2023.

Learn more about CarbonHub and EnergyCAP's complete suite of Energy & Sustainability ERP solutions at Catalyst 2023 in State College, PA, April 25 - 27, 2023.

Visit https://www.energycap.com/CarbonHub/ for more information and to request a demo of the solution.

About EnergyCAP, LLC:

EnergyCAP is the leading Energy & Sustainability ERP, empowering customers with full control and understanding of their energy & sustainability data to reduce their carbon footprint and drive savings. For over forty years, thousands of public and private institutions have been using EnergyCAP to streamline accounting processes, reduce resource consumption, and identify opportunities for sustainable operations. EnergyCAP helps customers who are drowning in paper bills, manual processes, and cumbersome spreadsheets and enables them to execute, analyze, and report on the energy and decarbonization projects needed to create a more sustainable world.

Visit https://www.energycap.com/ to learn more.

Related link: https://www.energycap.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Alliances and Partnerships, Business, Free News Articles, Taxes and Accounting

Asset Defense Team and Vast Solutions Group Do Joint Venture

SEATTLE, Wash. -- Asset Defense Team and Vast Solutions Group, Inc. (VastSolutionsGroup.com) are pleased to announce their joint venture, AssetDefenseAdv.com. This partnership brings together two leading companies in the asset protection and tax strategy industry, combining their expertise and resources to provide top-quality services to clients around the globe. The advanced platform is called "Einstein" and is currently in Beta 1.0.

Asset Defense Team is a well-respected firm known for its innovative strategies and high success rate in safeguarding assets for individuals and businesses. VastSolutionsGroup.com is a renowned provider of tax and retirement strategies using artificial intelligence with a strong track record in sophisticated tax mitigation strategies.

Together, Asset Defense Team and VastSolutionsGroup.com will offer a full range of asset protection services, including risk assessment, security planning, and crisis management while using advanced proprietary strategies and platforms. Their team of experts will work closely with clients to understand their unique needs and develop customized solutions to help them secure their assets and minimize risk.

Some AI vendor partners will be OpenAi's Chatgpt, Microsoft's Bing, and Google.com's TensorFlow.

"We are excited to partner with VastSolutionsGroup.com and bring our combined expertise to the table," said Bob Bluhm, CEO of Asset Defense Team. "This joint venture will allow us to better serve our clients and provide them with the highest level of protection for their assets."

"Asset Defense Team is a natural fit for us, and we are thrilled to join forces with them," said R. Kenner French, of Vast Solutions Group. "We believe that this partnership will allow us to better serve our clients and help them achieve their asset protection goals."

About Asset Defense Team:

Asset Defense Team is a leading asset protection firm that helps individuals and businesses safeguard their assets through innovative strategies and top-quality services.

About Vast Solutions Group, Inc.:

The pioneer in tax and retirement strategies for entrepreneurs using artificial intelligence™. Vast Solutions Group, Inc. has been in existence since 1969 and has offices throughout the U.S. Learn more: https://vastsolutionsgroup.com/.

MORE INFORMATION:

For more information about AssetDefenseAdv.com, please visit the website at https://assetdefenseadv.com/ or e-mail Kenner@VastSolutionsGroup.com.

Instagram: AssetDefenseAdvisors

Twitter: @AssetDefenseAdv

Related link: https://vastsolutionsgroup.com/

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Business, Free News Articles, Insurance, Taxes and Accounting

Strategic Benefits Advisors offers guidance for plan sponsors as they seek to comply with landmark SECURE 2.0 retirement legislation

ATLANTA, Ga. -- Independent, full-service employee benefits consulting firm Strategic Benefits Advisors, Inc. (SBA) issued a statement today outlining provisions of the newly enacted SECURE 2.0 Act of 2022 (SECURE 2.0) that are likely to affect most medium to large retirement plan sponsors.

"Employers are still getting their arms around the scope of change represented by SECURE 2.0," said SBA Principal Andy Adams. "We've created an outline that trims the Senate Finance Committee summary down to those provisions most relevant to defined contribution plans without taking all the meat off the bones. Our goal is to give plan sponsors an approachable entry point for understanding where the rubber meets the road."

Hailed as landmark retirement reform, SECURE 2.0 builds on the SECURE Act of 2019 to enhance the long-term financial security of millions of Americans by providing wider access to retirement savings. President Biden signed SECURE 2.0 into law on December 29, 2022, as part of a $1.7 trillion omnibus spending bill that also includes funds for national defense, medical research, safety, veteran health care and disaster recovery.

While most provisions within the 358-page SECURE 2.0 package apply to plan years beginning January 1, 2024, or later, certain provisions apply for the 2023 plan year. According to Adams and fellow SBA Principal Lynn Bullard, SECURE 2.0 provisions that will affect a majority of large and mid-sized defined contribution (DC) plan sponsors can be summarized as follows.

Mandatory changes to required minimum distribution (RMD) rules:

* Effective December 29, 2022, expands the amount that can be excluded from RMD rules if used to purchase qualified longevity annuity contracts.

* Effective January 1, 2023, raises the RMD age (the age at which participants must begin withdrawing from their retirement accounts) from 72 to 73, with a subsequent increase to 75 effective January 1, 2033.

* Effective January 1, 2023, reduces the individual tax penalty for failure to take the RMD.

* Effective January 1, 2023, provides more flexibility in the allowable timing, amounts and features of life annuities to satisfy RMD requirements by removing an existing actuarial test.

* Effective January 1, 2024, allows the surviving spouse of a participant who dies before commencing RMDs to elect to be treated as the employee for RMD purposes.

* Effective January 1, 2024, eliminates RMD requirements on Roth accounts prior to a participant's death.

Other changes to retirement plan distributions:

* Effective for federally declared disasters occurring on or after January 26, 2021, provides permanent rules related to the permitted use of retirement funds by affected individuals including penalty-free withdrawals of up to $22,000, taxation over three years, repayment provisions and special loan considerations.

* Effective December 29, 2022, eliminates the 10% early withdrawal penalty on distributions to terminally ill participants.

* Effective December 29, 2022, limits the repayment period for distributions taken for qualified birth or adoption expenses to three years.

* Effective January 1, 2023, permits employers to rely on employee self-certification of an event that constitutes a hardship.

* Effective January 1, 2024, eliminates the 10% early withdrawal penalty on amounts up to $1,000 in a year for personal or family emergencies. No other such emergency distribution may be made within three years unless the initial distribution is repaid.

* Effective January 1, 2024, creates a new, penalty-free withdrawal for victims of domestic abuse. Income taxes will be refunded to the participant for distributions repaid within three years.

* Effective January 1, 2024, increases the mandatory distribution cap to $7,000 (formerly $5,000).

* Effective December 29, 2025, permits distributions of up to $2,500 to pay for long-term care insurance premiums with no early withdrawal penalty.


Additional operational changes:

* Effective December 29, 2022, allows employers to give DC plan participants the option to receive employer matching contributions on a Roth (after-tax) basis.

* Effective January 1, 2023, allows employers to offer de minimis, immediate financial incentives (such as gift cards) to encourage employees to join retirement plans.

* Effective January 1, 2023, limits the types of plan disclosures required to those who have not elected to participate.

* Effective January 1, 2024, requires that all catch-up contributions to qualified retirement plans by highly paid participants be made on a Roth (after-tax) basis.

* Effective January 1, 2024, allows employers to offer individuals the option to pay down a student loan instead of contributing to a 401(k) plan and still receive an employer match in their retirement plan. Plan sponsors may conduct separate non-discrimination testing for these individuals.

* Effective January 1, 2024, allows plan sponsors to offer non-highly compensated employees an emergency savings account. Employers may auto-enroll employees at no more than 3% of compensation. Contributions are capped at $2,500, after which time contributions must be stopped or directed to an employee's Roth IRA until the balance falls below the cap.

* Effective January 1, 2024, modifies top-heavy testing so that a plan sponsor may test non-excludable and excludable employees separately.

* Effective December 29, 2023, allows plan providers to offer the ability to automatically deposit a participant's default IRA from a previous employer into a new employer's qualified plan.

* Instructs the Department of Labor to issue new guidance by December 29, 2024, on benchmarking target date funds against appropriate indices.

* Instructs the Department of Labor to create a central data repository (the 'Retirement Savings Lost and Found') by December 29, 2024, for participants to search for their plan administrator's contact information.

* Effective January 1, 2025, requires new 401(k) and 403(b) plans to automatically enroll employees unless they specifically opt out.

* Effective January 1, 2025, creates new, higher catch-up contribution limits for those ages 60 through 63 who participate in employer-sponsored retirement plans.

* Effective January 1, 2025, requires plan sponsors to allow part-time employees who work at least 500 hours a year for two consecutive years (not three years, as under current law) to participate in company 401(k) plans.

* Effective January 1, 2026, requires plan sponsors to provide participants with at least one paper account statement per year, unless the participant elects otherwise.

Updates to plan correction methods:

* Effective December 29, 2022, expands the IRS' Employee Plans Compliance Resolution System (EPCRS) by allowing more errors to be corrected through self-correction, extending applicability to inadvertent IRA errors and exempting certain RMD failures from excise taxes.

* Effective December 29, 2022, limits the degree to which plans may seek to recoup excess retirement plan payments from participants and gives plan sponsors the ability to choose not to recoup overpayments.

* Effective January 1, 2024, allows for correction of reasonable errors in administration of automatic enrollment and automatic escalation within 91/2 months after the end of the plan year in which the mistakes occurred (alleviating concern over the existing safe harbor correction method under EPCRS that expires December 31, 2023).


This list is not exhaustive. The full text of SECURE 2.0, including provisions that affect pension and cash-balance plans, may be found on pages 2046-2404 of the omnibus Consolidated Appropriations Act of 2023.

The Senate Financial Committee's 19-page summary of SECURE 2.0 may be found here (PDF): https://www.finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf

"For retirement plan sponsors, the question is not whether SECURE 2.0 impacts them, it's which of the more than 90 provisions apply to them and when do they take effect," said Bullard. "Determining the portions of the law relevant to each plan's unique situation is the first step in building a comprehensive plan of action that will keep employers in compliance with minimal disruption to participants and administrative teams."

For help bringing your plan into compliance with SECURE 2.0, talk to your SBA consultant or email info@sba-inc.com to connect with SBA's experienced team of actuaries, consultants and systems specialists.

About Strategic Benefits Advisors:

Strategic Benefits Advisors, Inc. (SBA) is an independent, full-service employee benefits consulting firm focused on creatively and effectively solving complex benefits issues for clients ranging from 1,000 to over 300,000 employees. Founded in 2002 by veteran consultants Mindy Zatto and Andy Adams, SBA provides practical consulting recommendations and expert implementation of solutions for all types of employee benefits programs, including retirement, health and welfare, financial wellness and employee recognition. With an average of over 25 years in the field, SBA's team of actuaries, consultants and systems specialists is among the most experienced in the industry.

For more information, visit https://www.sba-inc.com/.

RELATED LINKS:

https://www.sba-inc.com/new-bill-targets-employer-sponsored-retirement-plans/

https://www.napa-net.org/sites/napa-net.org/files/SECURE%20Act%202.0%20Final%20Text_122022.PDF

Related link: https://www.sba-inc.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Education and Schools, Free News Articles, Product Launches, Taxes and Accounting

Maxwell CPA Review provides online CPA courses to prepare students for the U.S. CPA exams

ORLANDO, Fla. -- A new exam-prep company is helping students to pass the U.S. CPA exams in droves. Maxwell CPA Review was founded by Kyle Ashcraft, CPA and provides online CPA courses to prepare students for the U.S. CPA exams. Kyle passed all four CPA exams with a 90 and above, in only six months. Now he works to equip students with the same tools that prepared him for his exams.

Maxwell CPA Review offers a Comprehensive CPA Exam Review Course which includes:

* 30+ Hours of Laser-Focused Video Lectures

* 1,300 MCQ Practice Questions

* 240+ Pages of Study Outlines

"This course serves as an effective supplemental course for any student preparing for the exams. Students greatly benefit from the real-world examples given throughout the course," says Ashcraft.

For example, in the Audit Exam video lecture on fixed assets, Kyle shows a real example of a fixed asset roll forward schedule.

Course Options

If a student would rather purchase the individual exam courses instead of the Comprehensive CPA Exam Review Course, the following exams can be purchased separately:

* FAR Exam Comprehensive Review Course

* REG Exam Comprehensive Review Course

* Audit Exam Comprehensive Review Course

* BEC Exam Comprehensive Review Course

Each course teaches students all the necessary topics to pass the CPA exams. Additionally, Maxwell CPA Review offers a free mini-course on ratio analysis which provides useful content for all four exams. With only one hour of studying per day with this course, a student can effectively prepare for their CPA exams.

Black Friday Discount

For Black Friday, students can purchase the Comprehensive CPA Exam Review Course (all 4 exams) for only $399. This is a 30% discount off the normal price of $599. This discount will start on Black Friday (November 25) and run through Cyber Monday (November 28, 2022).

Years Of Teaching Experience

Kyle Ashcraft, CPA has prepared over 100 CPA students for their exams and has provided over 1,000 CPA tutoring hours. In 2019, Kyle decided to try passing all four CPA exams within six months on his first try while working full-time. After two months, he took FAR, for a score of 95. Then after four weeks, onto BEC, for a score of 98. Then after two months, REG with a score of 91. Finally, after one more month, AUD, with a score of 90.

Kyle embraces his experience in public accounting at a top-20 firm to help break down accounting concepts to students. Kyle is based out of Florida (Eastern Time) and has his CPA License in Vermont.

For more information, please email support[at]@maxwellcpareview.com, or visit the company's website.

Official Website: https://www.maxwellcpareview.com/

Related link: https://www.maxwellcpareview.com/

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Business, Free News Articles, Legal and Law, Taxes and Accounting, Webinars

Absolute Trust Counsel to Hold Free Virtual Trust Administration Event for California CFPs and CPAs

WALNUT CREEK, Calif. -- Leading Bay Area estate planning firm Absolute Trust Counsel will host a free virtual event, The Absolute Trust Academy Trust Administration 101, on October 28, 2022, to equip CPAs and CFPs with a stronger knowledge of trust administration processes. The webinar is aimed at enhancing advisors' client services and relationships. In addition, this event allows CPAs and CFPs to earn four hours of continuing education credits.

"Trust administration is an important topic for financial professionals for several reasons," said event host and Absolute Trust Counsel founder, Kirsten Howe. "CFPs and CPAs are often the first professionals contacted upon a death. Why? Because clients trust and depend on their advisors regularly and they have the deepest, broadest knowledge of their clients' situations.

"In addition, the trust administration process requires a coordinated effort among the attorney, financial advisor, CPA, and the family. All advisors play an important role in the process. Boosting their knowledge base benefits both their clients and their business. And, having these tools in their arsenal will also help build a more robust plan and head off future problems."

The event will be held from 9 a.m. to 12:30 p.m. via Zoom and will feature several local experts who will teach the basics of what needs to be done when a client has died. Audience members will learn and implement proven planning strategies and tactics to address clients' unique needs while maximizing business potential.

"Clients really do rely on their CPAs and CFPs to get them through this very challenging time," Howe continued. "So, we are doing this webinar to help all CFPs and CPAs give even greater service to their clients."

Event topics and speakers include:

* Margaret Schopp, CPA, Schopp & Co. - "Tax Compliance: Form 706"
* Karen Fisher, Principal, Bishop Fiduciary Services, Ltd. - "Helping Clients with Best Practices"
* Jim O'Dea, Broker Associate, Redwood Mortgage - "Mortgage Loans to Irrevocable Trusts"
* Madison Gunn, Attorney, Absolute Trust Counsel - "The 7 Basic Steps of Trust Administration"
* Kirsten Howe, Esq., Managing Attorney, Absolute Trust Counsel - "The ABCs of Trust Planning"

For more information, or to register, visit: https://absolutetrustacademy.absolutetrustcounsel.com/trust-admin-101-optin.

About Absolute Trust Counsel:

Absolute Trust Counsel is among the most highly ranked estate planning law firms in Walnut Creek. The firm's areas of expertise include estate planning, trust administration, Medi-Cal planning, probate, retirement assets planning, and special needs planning. Absolute Trust Counsel's mission is to provide easy legal solutions for every client.

The firm's founder, Kirsten Howe, was admitted to the California bar in 1987 and has practiced in Walnut Creek since 1997. She earned her J.D. cum laude at the University of California, Hastings College of the Law, where she was a member of the Thurston Society and managing editor of The Hastings Law Journal. She earned her Bachelor of Science degree from the University of Michigan.

She is a member of the Trusts and Estates Section of The State Bar of California, the Estate Planning and Probate Section, the Elder Law Section, and the Women's Section of the Contra Costa County Bar Association.

Learn more: https://absolutetrustcounsel.com/.

Related link: https://absolutetrustcounsel.com/

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Business, Free News Articles, Taxes and Accounting

KROST Acts as Exclusive Financial Advisor for American Range in Sale to Hatco

LOS ANGELES, Calif. -- American Range, a privately held manufacturer of commercial and residential cooking appliances, was sold to Hatco, an employee-owned manufacturer of warming, cooking, sanitizing, and cooling equipment. KROST CPAs & Consultants acted as the exclusive financial advisor to American Range in its transaction to Hatco Corporation.

American Range was founded over 40 years ago by Shane Demirjian and has become a national brand known for engineering innovation, design quality, and excellent customer service in commercial and residential cooking appliances. The company has manufacturing locations in Pacoima, California, and Las Vegas, Nevada.

Hatco Corporation, a 100% employee-owned (ESOP) company has corporate offices in Milwaukee, and a state-of-the-art manufacturing facility in Sturgeon Bay, Wisconsin. The acquisition of American Range is part of Hatco's goal to broaden product offerings and expand opportunities to service customers in the food service industry.

American Range has been a client of KROST for five years. During this time, KROST provided Tax, Accounting, Consulting, R&D Tax Credit, Cost Segregation, and now Mergers & Acquisitions services. KROST's service model is designed to guide and support businesses throughout their lifecycle - from early-stage growth and development to succession and exit planning.

"When I was considering the potential sale of my business, I turned to KROST. They performed the full range of M&A services for me - from finding buyers, running a competitive bidding process, hosting management presentations, negotiating deal terms, running due diligence, and working with the legal team through the close of the transaction. They were a vital part of this transaction, and I relied on them enormously," said Shane Demirjian, Founder of American Range.

"We have been advising American Range, its owners, and its management team for over five years, so when they were considering a sale, they turned to us to run the full sell-side process for them. Because of our knowledge of their business and market, we were able to understand what was needed to get a comprehensive job done on a timely basis," said Paren Knadjian, M&A and Capital Markets Principal.

The M&A practice at KROST is led by industry veteran, Paren Knadjian, who recently became a Principal at the firm. The M&A team has been involved in over 300 transactions, consisting of outright sales of businesses, corporate divestitures, recapitalizations, acquisitions, and equity and debt financings worth over $2 billion in transaction value. The practice also offers transactional support services, including buy-side and sell-side quality of earnings reports, valuations, and due diligence services.

Contact KROST for more information about KROST's Mergers & Acquisitions and Capital Markets services at: https://www.krostcpas.com/ma-contact.

Learn more about KROST's services at: https://www.krostcpas.com/services.

About KROST CPAs & Consultants:

Established in 1939 in Pasadena, California, KROST, is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. Their focus is on recognizing opportunities and creating value for clients by equipping them with the tools to make better business and financial decisions for the future. As trusted advisors, clients depend on KROST to provide timely information, innovative solutions, and result-driven teamwork to ensure success. Along with providing traditional services, such as Tax, Accounting, and Assurance & Advisory, KROST also provides special services, including Client Accounting Services (CAS), Mergers & Acquisitions, Wealth Management, Tax Specialty Services, and KROST Business Intelligence (KBI).

Related link: https://www.krostcpas.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles, Taxes and Accounting

INSIDE Public Accounting Names KROST Best of the Best Firm and Top 100 Firm

PASADENA, Calif. -- KROST CPAs & Consultants was recognized as the Best of the Best Firm and Top 100 Firm by INSIDE Public Accounting in 2022. Based on revenue, KROST was ranked 75th among the largest firms in the country, out of nearly 600 firms. With a net revenue of greater than $65 million, KROST was able to rise from the firm's previous ranking of 81st in 2021's IPA Survey and Analysis of Firms.

Previously, KROST placed 116th in 2020, a substantial leap from 157th in 2016 when the firm first made the rankings. KROST has been named Best of the Best Firm among the most prestigious firms, for the seventh year in a row and Top 100 firm for the second year in a row. In addition to being a Top 100 and Best of the Best Firm, KROST received other recognitions from IPA, including Fastest-Growing Firm, Top 200 Firm, and more. For more information about KROST's awards and recognition, please visit https://www.krostcpas.com/awards.

"This year has truly been incredible. We are honored to receive these awards. As our firm continues to grow, we are excited to see new changes and growth in the upcoming future. I would like to thank our staff and their commitment to the firm, as well as our amazing partnerships with our clients. Without them, none of this would have been possible and we are truly grateful for all their hard work and dedication. KROST highly values teamwork and collaboration as we strive to help each team member grow both personally and professionally. We aim to continue providing outstanding client services and cater to our niche industries, as well as launching new and innovative services," said Jason Melillo, CEO of KROST.

INSIDE Public Accounting (IPA) is a leader in practice management resources for the public accounting profession that include: the monthly practice management newsletter, the annual national practice management benchmarking reports and corresponding reports and training. IPA has assisted firms across North America grow and thrive since 1987. The one-of-a-kind IPA 500, recognizing the top U.S.-based accounting firms, is the most comprehensive list of North American public accounting firms available. IPA annually ranks the largest public accounting firms in the U.S. based on participating firm's net revenues - from the multi-billion-dollar U.S.-based Big 4 to the $3.8 million firm. Ranking data is captured through IPA's annual practice management survey and analysis of firms. IPA is the survey leader in data collection for the profession, with more of the largest 600 firms participating than any other survey today and a 92% return rate of participating firms.

* Learn more about KROST's services https://www.krostcpas.com/services

* View INSIDE Public Accounting's 2022 Top 100 Rankings https://insidepublicaccounting.com/top-firms/ipa-500/

* View INSIDE Public Accounting's Best of the Best Rankings https://insidepublicaccounting.com/top-firms/best-of-the-best/

About KROST CPAs & Consultants

Established in 1939 in Pasadena, California, KROST, is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. Their focus is on recognizing opportunities and creating value for clients by equipping them with the tools to make better business and financial decisions for the future. As trusted advisors, clients depend on KROST to provide timely information, innovative solutions, and result-driven teamwork to ensure success. Along with providing traditional services, such as Tax, Accounting, and Assurance & Advisory, KROST also provides special services, including Client Accounting Services (CAS), Mergers & Acquisitions, Wealth Management, Tax Specialty Services, and KROST Business Intelligence (KBI).

Client Accounting Services (CAS) is a new addition to the many services that KROST offers. CAS can be a cost-effective way to have high-level financial reporting without having to hire a team of Certified Public Accountants and accounting professionals. CAS will allow you to focus on business growth, while your CAS team provides the financial data you need. KROST provides analysis and details regarding the management of cash and reporting to help you manage your business at a glance.

KROST Business Intelligence (KBI) is a newly-launched service that takes complex financial information and turns it into actionable change to improve the bottom line. KBI is a cloud-based data solutions platform that can translate unstructured, impossible-to-read data into structured, real-time insights. This information can be leveraged to improve realization, staff utilization, project turnaround, and more. Each dashboard is curated with your unique goals in mind and can be customized to fit your needs.

Related link: https://www.krostcpas.com/

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