Tag Archives: Taxes and Accounting

Sustainable Organizations Embrace EnergyCAP’s Complete Suite of Energy and Sustainability ERP Solutions

STATE COLLEGE, Pa. /ScoopCloud/ -- EnergyCAP, a renowned provider of energy and sustainability enterprise resource planning (ERP) solutions, proudly announces The University of Texas Medical Branch (UTMB) and The University of New Mexico (UNM) have adopted EnergyCAP's newest solutions: CarbonHub and Wattics, making them the first customers to embrace EnergyCAP's complete solution suite. UTMB, an EnergyCAP customer of 10+ years, and UNM, an EnergyCAP customer of 15 years, are elevating their energy efficiency and sustainability aspirations by embracing Wattics and CarbonHub.

EnergyCAP's Energy & Sustainability ERP Solution Suite:

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

* Wattics - Real-time energy analytics at the building and device levels

* CarbonHub - Financial- grade carbon accounting and sustainability reporting

Jason Strauss, President and CEO of Lobo Energy shared that, "Lobo Energy Incorporated is thrilled to support the University of New Mexico's adoption of EnergyCAP's complete suite of solutions. Access to real-time energy and financial-grade carbon data is critical to advancing their decarbonization efforts. This decision underscores the University's dedication and commitment to environmental stewardship."

Since partnering with EnergyCAP in 2008, UNM has been able to avoid costs totaling $139.9 million and decrease their energy consumption by an impressive 22.1%.

Read more about UNM's success with EnergyCAP here - https://www.energycap.com/success-stories/university-of-new-mexico/

Strauss explained that, "Since we have seen the benefits of our streamlined process for data integration with EnergyCAP for our utility data, we wanted to streamline the carbon data process the same way."

By adopting CarbonHub, UNM will be able to accurately track their greenhouse gas emissions and comply with the ever-increasing number of regulations. EnergyCAP's out-of-the-box reports provide data in digestible formats that serve as "a roadmap for a decision matrix for carbon neutrality. [With EnergyCAP] we are allowing the data to help drive the process," says Strauss.

The Energy Management team at UTMB is constantly on the lookout for areas of inefficiencies in energy usage, with the goal of minimizing energy expenses. Quick identification of potential problems is key to achieving this goal. Wattics's offers an unparalleled solution for monitoring and predicting energy consumption in real time.

"We are currently using a large spreadsheet to track our energy savings initiatives and calculate associated savings. Wattics will allow us to calculate the savings with a click of the button using the Operations Analyzer tool. This will save our engineers time that they can then reinvest into finding more energy savings opportunities," says Sean Finegan, Business Operations Manager at The University of Texas Medical Branch.

By using EnergyCAP, UTMB was promptly able to identify anomalies in energy consumption for a specific building on their campus. With a few adjustments to lines of code, instantaneous electric savings were achieved, leading to a quick win of $26,000 in cost avoidance. The precise implementation month and subsequent reduction in energy consumption are clearly visible in EnergyCAP's reporting visuals shown below. Thanks to their prior success with EnergyCAP, UTMB has been able to expand their investments into complementary solutions.

"The adoption of CarbonHub and Wattics will bolster our ongoing efforts in enhancing energy efficiency within our buildings," states Finegan. "Building upon the great progress we have achieved with EnergyCAP, these new solutions will further accelerate our sustainability journey. We recognize the importance of continuous improvement, and by adopting the full suite of EnergyCAP's Energy and Sustainability ERP solutions, we are poised to achieve even greater strides in reducing our environmental footprint."

EnergyCAP remains committed to empowering organizations like UTMB and UNM with advanced solutions that drive efficiency, cost savings, and sustainability excellence. Through its suite of comprehensive solutions, EnergyCAP continues to be a trusted partner in transforming the way organizations manage and optimize their energy resources.

About EnergyCAP:

EnergyCAP is a leading provider of energy and sustainability enterprise resource planning (ERP) solutions. With a proven track record of delivering exceptional value and results for over forty years, EnergyCAP helps thousands of public and private organizations optimize energy consumption, reduce costs, and enhance sustainability efforts. By providing robust data collection, analysis, and reporting capabilities, EnergyCAP empowers organizations to make informed decisions and achieve their energy management and sustainability goals.

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

EnergyCAP, a renowned provider of energy and sustainability enterprise resource planning (ERP) solutions, proudly announces The University of Texas Medical Branch (UTMB) and The University of New Mexico (UNM) have adopted EnergyCAP's newest solutions: CarbonHub and Wattics, making them the first customers to embrace EnergyCAP's complete solution suite.

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

Tax Help MD Provides Five Steps to Help Small Corporations Calculate QBI

WEST PALM BEACH, Fla. /ScoopCloud/ -- Tax Help MD helps self-employed individuals and small businesses to resolve tax issues. From basic tax filings to more complex situations, Tax Help MD wants its clients to come out on top. That's why it empowers them with information, so they can get the best tax benefits available.

"For example, many businesses are not aware that the qualified business income deduction (QBI) is a tax deduction that allows eligible, self-employed and small-business owners to deduct up to 20 percent of their qualified business income on their taxes," Ekaterina Drouin, president, Tax Help MD says.

Here, Tax Help MD lists the five steps small corporations need to follow to accurately calculate QBI:

1 - Identify eligible business activities: Determine which activities conducted by the small corporation qualify for the QBI deduction. Generally, most trades or businesses other than specified service trades or businesses (SSTBs) are eligible. SSTBs include professions such as law, accounting, healthcare, consulting, financial services and others.

2 - Calculate the QBI for each eligible business activity: For each eligible business activity, calculate the QBI separately. The QBI is generally the net income or loss from the activity, excluding certain items such as capital gains or losses, dividends and interest income.

3 - Consider limitations and thresholds: QBI calculations may be subject to various limitations and thresholds. One such limitation is the taxable income threshold, which can affect the availability and amount of the QBI deduction. For tax years beginning in 2021, the threshold is $329,800 for married filing jointly or $164,925 for individual taxpayers.

4 - Apply W-2 wage and qualified property limitations (if applicable): For certain businesses, there are additional limitations based on W-2 wages and qualified property. If the small corporation is subject to these limitations, calculate the allowable QBI deduction based on a combination of the QBI, W-2 wages paid by the business and the unadjusted basis of qualified property used in the business.

5 - Determine the QBI deduction: Once the QBI is calculated for each eligible business activity and relevant limitations are applied, then the overall QBI deduction for the small corporation can be determined. The QBI deduction is generally a percentage (up to 20 percent) of the total QBI from all eligible activities.

Tax Help MD staff warns that it's important to note that tax laws and regulations are subject to change, and there may be additional considerations and complexities involved in calculating QBI for small corporations. Therefore, consulting with a qualified tax professional or accountant who is familiar with specific circumstances is highly recommended to ensure accurate and compliant calculations.

"We're a small business - just like many of our clients - so we're intimately familiar with their situations and how to help them achieve the best outcomes possible," Drouin says.

About Tax Help MD:

In business since 2012, Tax Help MD is a results-driven, full-service tax resolution organization which specializes in helping taxpayers get free of the stress and strain of tax debt. It has a CPA and tax attorney on staff and will help to set up IRs payment plans as needed too.

FOR MORE INFORMATION:

Tax Help MD: https://www.taxhelpmd.com/

Tax Help MD helps self-employed individuals and small businesses to resolve tax issues. From basic tax filings to more complex situations, Tax Help MD wants its clients to come out on top. That's why it empowers them with information, so they can get the best tax benefits available.

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

JTC CPAs Takes Home Top Honors at Idaho’s Best Awards 2023, Solidifying Their Place as State’s Premier Accounting Firm

BOISE, Idaho /ScoopCloud/ -- JTC CPAs, a leading accounting firm based in Idaho, is thrilled to announce their recent award-winning recognition as the 2023 best accountant in both Treasure Valley and statewide in Idaho. Winning the 2023 Best CPA for Treasure Valley and Best Statewide Accountant in Idaho awards is a great achievement for JTC CPAs, and it reflects the firm's dedication to excellence in the field of accounting. Both of these awards are a testament to the firm's commitment to providing high-quality accounting services and outstanding customer service to their clients in Idaho and beyond.

Who We Are

As a full-service accounting firm, JTC CPAs offers a wide range of accounting services, including tax planning and preparation, audit and assurance, business advisory, and bookkeeping services. Using a unique team approach to small business accounting, JTC CPAs provides personalized attention to each client, taking the time to understand their unique needs and goals and providing tailored, team-driven solutions to help them achieve their financial objectives.

JTC CPAs' team of highly qualified and experienced bookkeepers and accountants are committed to staying current with the latest developments in bookkeeping and accounting standards and regulations, ensuring that clients receive the most accurate and reliable financial advice and guidance.

Awarded Best Accountant

JTC CPAs received two awards for their outstanding accounting services: 2023 Best CPA for Treasure Valley and 2023 Best Statewide Accountant in Idaho. These awards were selected through a rigorous process that involved evaluation of different accounting firms based on various criteria.

The selection process for the awards was conducted by a panel of judges who evaluated each accounting firm based on their expertise, customer service, reputation, and community involvement. The judges took into consideration feedback from clients and industry experts, as well as the overall performance of the firms.

JTC CPAs was recognized for their exceptional accounting services, personalized attention to clients, and commitment to staying up-to-date with the latest developments in accounting standards and regulations. The firm's high level of expertise, experience, and customer service made them stand out from the competition, leading to their selection as the Best CPA for Treasure Valley and Best Statewide Accountant in Idaho.

These awards are a reflection of JTC CPAs' commitment to providing outstanding accounting services to clients across the state. The firm's focus on delivering personalized attention and tailored, team-driven solutions to clients has helped them build a strong reputation in the industry and earn the trust and loyalty of their clients.

Success in Accounting

JTC CPAs' success can be attributed to several key factors, including their expertise, professionalism, and client-centered approach. First and foremost, JTC CPAs' team of highly qualified and experienced accountants is a significant factor in their success. They have a deep understanding of the complexities of accounting and taxation, as well as stay current with the latest developments in accounting standards and regulations. This expertise enables JTC CPAs to provide their clients with accurate and reliable financial advice and guidance.

Another crucial factor that has contributed to their success is JTC CPAs' professionalism. They maintain the highest standards of professionalism in their work, ensuring that their clients receive the best possible service. From their timely and accurate reporting to their transparent communication with clients, JTC CPAs' professionalism is evident in every aspect of their work.

Additionally, JTC CPAs' client-centered approach has played a critical role in their success. They understand that every client has unique needs and goals, and they take the time to understand these needs and provide tailored solutions that are specific to each client's situation. This approach has helped them build strong relationships with their clients, resulting in high levels of customer satisfaction and loyalty.

Up To Date

Overall, JTC CPAs' commitment to staying up-to-date with the latest developments in accounting standards and regulations is also a significant factor in their success. This commitment ensures that they are always providing their clients with the most accurate and reliable financial advice and guidance, even as the accounting landscape continues to evolve.

While a lot of firms can also claim some of these attributes, JTC CPAs combine all of these attributes as part of their unique team-driven approach for an elevated client-centered experience. But don't just take their word for it...here are a few comments from clients:

"Any question or concern we have ever had, they have done whatever that could to explain it. We truly appreciate everyone at JTC CPAs." ~Steve

"Informative, patient, quick, friendly, organized, & caring." ~Molly

"It's always a pleasure to use JTC CPAs for our tax preparation services."~Doug

Continued Effort Towards Education

JTC CPAs plans to continue investing in their team's education and training to stay current with the latest developments in accounting standards and regulations. This commitment to ongoing education and training for employees will ensure that JTC CPAs are always providing their clients with the most accurate and reliable financial advice and guidance.

Additionally, JTC CPAs plan to expand their services to meet the growing needs of their clients. They will continue to offer their existing services, such as tax planning and preparation, audit and assurance, business advisory, and bookkeeping services. Still, plans are in the works to explore new service offerings that will provide their clients with even more comprehensive and tailored solutions to their financial needs.

Wrap Up

With gratitude and excitement, JTC CPAs is looking forward to the future as they continue to provide clients with the stellar service and commitment to quality work as they always have using their unique team-driven approach to provide the best client-centered experience in Idaho and beyond.

Learn more: https://jtcllp.com/

JTC CPAs, a leading accounting firm based in Idaho, is thrilled to announce their recent award-winning recognition as the 2023 best accountant in both Treasure Valley and statewide in Idaho. Winning the 2023 Best CPA for Treasure Valley and Best Statewide Accountant in Idaho awards is a great achievement for JTC CPAs, and it reflects the firm's dedication to excellence in the field of accounting.

Related link: https://jtcllp.com/

Accounting Today Names KROST Top 100 Firm and Regional Leader 2023

LOS ANGELES, Calif. /ScoopCloud/ -- KROST has been recognized as a Top 100 Firm by Accounting Today for the third year in a row. The firm ranked 72nd with a 16.60% change in revenue from the previous year. In addition, KROST has also been named a Regional Leader of 2023. The firm recently launched a new service, KROST Fund Admin Solutions, to further assist and add value for their clients.

"We at KROST are once again honored to be recognized as a Top 100 Firm and a Regional Leader for 2023 by Accounting Today. It is through the hard work and dedication of our team that we have been able to consistently achieve this type of success. I am truly grateful to all of our team members who are so committed to excellent service and our mission, simplifying the complex," said Jason Melillo, CPA, CEO

Accounting Today's Top 100 Firms and Regional Leaders are the annual rankings of leading national and local firms, as well as their chief executives' take on the major issues facing their firms, and their strategies for success for the year and beyond. The awards recognize the largest tax and accounting firms by revenue, both regional and nationwide. Previously, Accounting Today has named KROST a Top 100 Firm in 2022 and 2021, Fastest Growing Firm in 2021 and 2018, a Top Regional Leader in 2019, and a Top Firm to Watch in 2017. To view the full list of KROST's awards and recognition, please visit KROSTCPAs.com/awards.

Accounting Today is the leading information resource for public accountants - serving the community of professionals who provide tax preparation, bookkeeping, auditing, financial planning, and business advisory and consulting services to individuals and small businesses. Accounting Today is sharply focused on the industry's most important concerns, including tax law, accounting standards, technology, audit and assurance, and wealth management. Its analysis and breaking news, opinion and expert advice, and practical business-building ideas enable partners, principals and practitioners to make informed decisions about their business and the clients they serve.

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. Our 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, KROST Business Intelligence (KBI), and KROST Fund Admin Solutions.

Contact us for a complimentary consultation to see how our experts can customize a package dedicated to your needs: https://www.krostcpas.com/contact.

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

KROST has been recognized as a Top 100 Firm by Accounting Today for the third year in a row. The firm ranked 72nd with a 16.60% change in revenue from the previous year. In addition, KROST has also been named a Regional Leader of 2023. The firm recently launched a new service, KROST Fund Admin Solutions, to further assist and add value for their clients.

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

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

COLUMBUS, Ohio /ScoopCloud/ -- 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/.

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.

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

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

HONOLULU, Hawaii /ScoopCloud/ -- 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/.

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.

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

KROST Welcomes Grant Miller as Principal of Tax

LOS ANGELES, Calif. /ScoopCloud/ -- 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/

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.

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

EnergyCAP expands offering to include financial-grade carbon accounting

BOALSBURG, Pa., /ScoopCloud/ -- 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.

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.

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

Asset Defense Team and Vast Solutions Group Do Joint Venture

SEATTLE, Wash. /ScoopCloud/ -- 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

Asset Defense Team and Vast Solutions Group, Inc. 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.

Related link: https://vastsolutionsgroup.com/

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

ATLANTA, Ga. /ScoopCloud/ -- 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

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.

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

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

ORLANDO, Fla. /ScoopCloud/ -- 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/

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.

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

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

WALNUT CREEK, Calif. /ScoopCloud/ -- 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/.

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.

Related link: https://absolutetrustcounsel.com/

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

LOS ANGELES, Calif. /ScoopCloud/ -- 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).

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.

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

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

PASADENA, Calif. /ScoopCloud/ -- 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.

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.

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

Matthew Weber and Jonathan Louie Appointed to KROST’s Principal in Development Program

Matthew Weber and Jonathan Louie Appointed to KROST's Principal in Development ProgramLOS ANGELES, Calif. /ScoopCloud/ -- Los Angeles-based CPA firm, KROST CPAs & Consultants, appoints Matthew Weber, CPA, MAcc, and Jonathan Louie, CPA, MST, to join KROST's Principal in Development (PID) program.

In the PID program, Matthew and Jonathan will join leadership trainings to prepare for the partner path, as well as attend partner meetings to gain insight into the role. They will set individual goals that they will work on to achieve over the course of the next year or two. During this time, Matthew and Jonathan will refine their skills and develop their knowledge in their field of expertise.

Matthew has been with KROST since July 2015 and based in our Woodland Hills office. Matthew's areas of expertise include federal and multi-state tax compliance and consulting for individuals, corporations, and partnerships. He is the leader of the firm's financial services team and serves a variety of clients, including hedge funds, private equity, venture capitalists, money managers, and traders. He also produces articles on the financial services sector with topics that range from IRS updates to complex tax strategies.

"Matt is a natural leader. As the Chair of KROST's financial services industry niche, Matt focuses on management companies and their investment vehicles to address issues and opportunities specific to the industry. Because of his dedication to his field of work, Matt has contributed greatly to the growth of our firm," said Lou Guerrero, Principal.

Jonathan is the leader of KROST's real estate industry group and has been with the firm since 2014. He is based at our headquarters location in Pasadena, CA and is an expert in dealing with the complexities of 1031 exchanges and cost segregation and has written articles, spoken at real estate conferences, and given webinars on the subject matter. Jonathan specializes in providing federal and multi-state tax compliance and consulting services to high-net-worth real estate brokers, developers, property managers, attorneys, investors, syndicators, and their partnerships and corporations. He also has expertise in and services clients in the restaurant, medical, and entertainment industries. With over 15 years of experience in public accounting, Jon has made great strides in our firm and really put his expertise out there within the tax industry.

"Jon has always been actively involved within our firm and community. Not only is he a team player in the tax department, but he is also a core member of our Real Estate Industry Group. I'm proud to have Jon as an integral part of the team. I want to congratulate Jon on his outstanding contribution to his department and the firm," said Jason Melillo, CEO of KROST.

We are happy that they are taking part in the PID program and can't wait to see them grow even more. We are excited for their future achievements and would love to see what more they can bring to the firm.

Learn more about our Financial Services " https://www.krostcpas.com/industries/financial-services-sector

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

For more information, please contact us: https://www.krostcpas.com/contact

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). For more information about KROST, please visit our website.

Los Angeles-based CPA firm, KROST CPAs & Consultants, appoints Matthew Weber, CPA, MAcc, and Jonathan Louie, CPA, MST, to join KROST's Principal in Development (PID) program.

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

PitBullTax Software Named to the 2022 Inc. 5000 List of the Fastest Growing Private Companies in America

CORAL SPRINGS, Fla. /ScoopCloud/ -- PitBullTax Software, the Nation's Leading Tax Resolution Software for CPAs, EAs and Tax Attorneys has revealed it has won a spot on the 2022 Inc. 5000 list of the fastest growing private companies in America.

The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment-its independent businesses. Facebook, Chobani, Under Amour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

The companies on the 2022 Inc. 5000 have not only been successful, but also demonstrated resilience amid supply chain woes, labor shortages and the ongoing impact of COVID-19.

"We are extremely proud of this honor and have worked very hard to grow this company into what it is today," stated Jaime S. Buchwald, CPA, Co-Founder and CEO. "The timing of this award couldn't have come at a better time. With the Inflation Reduction Act giving the IRS $80 billion and the agency looking to hire 87,000 new personnel, IRS enforcement over the next decade will be at all-time high, and the amount of new resolution cases are going to increase astronomically."

Buchwald adds, "With this prestigious award, our licensees and potential licensees will now have even greater confidence in PitBullTax to handle this avalanche of new cases, not only as the nation's leader in IRS tax resolution software, but also as a verified national business leader."

"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor these companies that have established themselves through innovation, hard work, and rising to the challenges of today."

Jose Alfaro, Co-Founder and CTO of PitBullTax, said "What a year! Just last month we released Version 7.0, a quantum leap in automation that seamlessly integrates with major tech companies such as Zoom meetings, and synchronizes with Dropbox, Google Drive, One Drive, Outlook and Google Calendar and SMS communication. On top of that, we now join the ranks of the fastest growing companies in America thanks to the dedication of our employees and the loyal support of our licensees, the top IRS tax resolution professionals in the country."

ABOUT PITBULLTAX SOFTWARE:

PitBullTax Software has licensees in all 50 states that rely on the company's software to prepare their clients' IRS resolution cases and automate their IRS tax resolution practices. Innovation, efficiency and making its licensees more profitable are the cornerstones of the company's philosophy.

Learn more at: https://www.pitbulltax.com/

PitBullTax Software, the Nation's Leading Tax Resolution Software for CPAs, EAs and Tax Attorneys has revealed it has won a spot on the 2022 Inc. 5000 list of the fastest growing private companies in America.

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

KROST Announces Paren Knadjian as Principal of M&A and Capital Markets and Brad Pauley as Principal of Tax

LOS ANGELES, Calif. /ScoopCloud/ -- Los Angeles-based CPA Firm, KROST CPAs and Consultants announced Paren Knadjian as Principal of M&A and Capital Markets and Brad Pauley as Principal of Tax. Knadjian has successfully completed over 200 M&A and Capital Markets transactions worth over $1 billion.

Having been at the firm since 2017, Paren's work has made a great impact on the firm. He has over 20 years of experience in mergers and acquisitions along with equity and debt financings. Paren and his team at KROST have assisted over 350 entities in procuring, managing, and obtaining forgiveness for more than half a billion dollars of PPP, EIDL, and Main Street Loans. He also acts as an outsourced CFO. Paren's talent at understanding client needs and his industry resulted in rapid professional growth at our firm.

"Paren has been instrumental at KROST, especially in developing the M&A practice at KROST into one of the most successful and respected in the industry. In addition, as the leader of the firm's technology industry niche, he has leveraged that expertise to help to make a significant impact in the growth of KROST clients. He is a talented speaker and frequently shares his knowledge through educational webinars relating to mergers and acquisitions and other aspects of capital markets," said Jason Melillo, CEO of KROST.

Brad Pauley has been with KROST since 2019 after merging in from Gaynor & Umanoff. He brings over 20 years of experience providing tax advice, projections, and compliance services to clients. His areas of expertise include high-net-worth individuals and their closely held businesses in the sports and entertainment space. Working with clients such as athletes, entertainers, professionals, and owners/operators of real estate including like-kind exchanges. Brad has been a tremendous contributor to the firm and helps his clients maintain their financial success.

"Brad spearheaded the sports and entertainment industry, working with current and former MLB, NBA, and NFL players. He handles everything from tax planning and preparation to multi-state/residence issues and has extensive real estate industry experience. Brad is truly a visionary in his industry. His attention to detail is immaculate and he is committed to providing the best client service," said Richard Umanoff, Principal.

Learn more about our new services " https://www.krostcpas.com/services

For more information about KROST, please visit https://www.krostcpas.com/

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 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 as Tax, Accounting, Assurance & Advisory, KROST provides special services including Client Accounting, Mergers & Acquisitions, Wealth Management, Tax Specialty Services and KROST Business Intelligence/Data Analytics.

Los Angeles-based CPA Firm, KROST CPAs and Consultants announced Paren Knadjian as Principal of M&A and Capital Markets and Brad Pauley as Principal of Tax. Knadjian has successfully completed over 200 M&A and Capital Markets transactions worth over $1 billion.

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

IRS Releases Updated Practice Unit for Auditing the 179D Energy Efficient Commercial Buildings Deduction

EGAN, Minn. /ScoopCloud/ -- The IRS Large Business and International (LB&I) Division released an updated Practice Unit for its agents to audit the 179D Energy Efficient Commercial Buildings Deduction (179D Deduction), ICS Tax, LLC announced today. It confirms that taxpayers can use the ASHRAE Standard 90.1-2007 rather than newer, more strict standards but also could be an indication that the IRS will have added scrutiny on 179D projects.

179D DEDUCTION BACKGROUND

The 179D Deduction was enacted to encourage taxpayers to make buildings more energy efficient. Installation of energy-efficient commercial building property (EECBP) occurs when constructing a new, or improving an existing, commercial or government-owned building.

179D allows a taxpayer who owns or leases a commercial building to deduct the cost or a portion of the cost to install EECBP. Additionally, if the EECBP is installed in a government-owned building, the deduction can be allocated to the person(s) primarily responsible for designing the EECBP ("the Designer" or "the Designers").

EECBP must be part of at least one of three systems:

1 -- Interior lighting systems;

2 -- Heating, cooling, ventilation, and hot-water systems; or

3 -- The building's envelope.

To claim the 179D Deduction, a taxpayer generally hires a third-party Professional Engineer to perform energy modeling using IRS-approved software to confirm that the building meets the 179D requirements. The engineer then prepares a Certificate of Compliance to support the 179D Deduction.

THE ASHRAE STANDARD

The Taxpayer Certainty and Disaster Relief Act of 2020 updated the energy efficiency standard for the 179D Deduction by providing that for EECBP placed in service after December 31, 2020. EECBP means property that is within the scope of "Reference Standard 90.1." Amended 179D(c)(2) provides that "Reference Standard 90.1" means "the most recent Standard 90.1 published by [ASHRAE] which has been affirmed by the Secretary [of the Treasury], after consultation with the Secretary of Energy, for purposes of this section not later than the date that is 2 years before the date that construction of such property begins."

The LB&I revised Practice Unit states "The Secretary of the Treasury has not yet affirmed a new version of Reference Standard 90.1 for use with the IRC 179D deduction.... The ASHRAE Standard 90.1-2007 is the most current affirmed version as of the publication date of this Practice Unit." This means that taxpayers looking to benefit from the 179D Deduction can still qualify under the older ASHRAE standard.

INCREASED 179D SCRUTINY

The IRS recently announced it is looking to hire more than 4,000 representatives. A notable division within the IRS is the Criminal Investigation division. It is the investigative and law enforcement arm of the IRS with expertise in tax fraud, investment fraud, corruption, and much more. Earlier this year, a national tax consulting firm heavily involved with the 179D Deduction was raided by the IRS Criminal Investigation division. While the reason for the raid is not yet publicly known, the raid, the revised Practice Unit and the additional hiring could indicate that the IRS will have higher scrutiny on the 179D Deduction.

About ICS Tax, LLC:

ICS Tax, LLC has the expertise to properly obtain 179D Deductions. We have Professional Engineers licensed in all states to perform energy modeling, building inspections, and preparing certificates of compliance. For designers of public buildings, we also have government relations experts to complete and obtain allocations from government agencies.

For more information, please visit us at https://ics-tax.com/.

RELATED LINKS:

https://www.irs.gov/pub/irs-utl/irc-179d-energy-efficient.pdf

https://ics-tax.com/services/179d/

https://www.energy.gov/eere/buildings/qualified-software-calculating-commercial-building-tax-deductions

The IRS Large Business and International (LB&I) Division released an updated Practice Unit for its agents to audit the 179D Energy Efficient Commercial Buildings Deduction (179D Deduction), ICS Tax, LLC announced today. It confirms that taxpayers can use the ASHRAE Standard 90.1-2007 rather than newer, more strict standards but also could be an indication that the IRS will have added scrutiny on 179D projects.

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

PitBullTax Software Integrates with Major Tech Companies to Further Dominate The IRS Tax Resolution Industry

CORAL SPRINGS, Fla. /ScoopCloud/ -- PitBullTax Software, the Nation's Leading IRS Tax Resolution Software for CPAs, EAs and Tax Attorneys has announced the release of Version 7.0. Version 7.0, a quantum leap in automation, integrates with other major high-tech platforms to provide its licensees with elevated efficiency and workflow to handle more cases and to adapt to the "new normal," a more virtual work environment.

Major tech enhancements now include seamless Zoom Meetings Integration, File Storage Synchronization with Dropbox, Google Drive and OneDrive, SMS text communications, and Outlook and Google Calendar synchronization. In addition, other new features are a state-of-the-art proprietary Notifications Dashboard and a new user-friendly interface.

In conjunction with creating a more advanced platform for the virtual and workplace environments, the release is also perfectly timed to the significant ramp up of IRS collection enforcement that delinquent taxpayers are now experiencing, the exact clients of PitBullTax's licensees.

Jaime S. Buchwald, CPA, Co-Founder and CEO explained, "Now with the dire aspects of the pandemic hopefully behind us, the IRS has dramatically increased its collection efforts. With approximately 50 million troubled taxpayers in the U.S. and approximately 15 million troubled taxpayers currently in the IRS collection division, the demand for IRS tax resolution services is at an all time high. With PitBullTax Software Version 7.0 our licensees stand ready to efficiently, profitably and successfully handle this major influx of new business."

"Our company has been at the forefront of the IRS tax resolution industry for over 12 years, with a team of software engineers, developers, tax resolution specialists, customer service representatives and security professionals who are keenly aware of the constantly changing landscape of technology advancements, professional workflow, and tax law procedures," stated Jose Alfaro, Co-Founder and Chief Technology Officer. "With our Version 7.0 enhancements and integrations our licensees will be able to continue to provide outstanding IRS tax resolution services."

To demonstrate the full impact of version 7.0, the company will be hosting webinars to introduce licensees and potential licensees to the new integrations and enhancements.

"Of course, we will also be doing deep dives into the software in our classes in PitBullTax Institute, our IRS and NASBA accredited educational division. Not only will attendees gain tremendous insights and value in learning how to incorporate these cutting-edge tools into their practices, but they will also receive continuing education credits," said Irina N. Bobrova, MST, EA and Chief Operating Officer.

ABOUT PITBULLTAX SOFTWARE:

PitBullTax Software has licensees in all 50 states that rely on their software to prepare their clients' IRS resolution cases and automate their IRS Tax Resolution practices. Innovation, efficiency and making its licensees more profitable are the cornerstones of the company's philosophy.

Learn more at: https://www.pitbulltax.com/.

PitBullTax Software, the Nation's Leading IRS Tax Resolution Software for CPAs, EAs and Tax Attorneys has announced the release of Version 7.0. PitBullTax Software has licensees in all 50 states that rely on their software to prepare their clients' IRS resolution cases.

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

Business and Economic Empowerment Leader Dr. Velma Trayham Announced as Keynote Speaker for Takeaway Tax Business Conference in Houston, TX

HOUSTON, Texas /ScoopCloud/ -- Highlighting the power of entrepreneurship to change the world and end poverty, award-winning B2B/diversity consultant and leader Dr. Velma Trayham (CEO of Thinkzilla Consulting Group) has been announced as the keynote speaker for TakeAway Tax's upcoming Tax Business Conference in Houston on Aug. 4.

Dr. Trayham is the CEO of Thinkzilla Consulting, a Black- and woman-owned Marketing Strategy and Diversity Consulting agency that opened its fourth office in Scottsdale last year, and founder of the Millionaire Mastermind Academy, a nationwide nonprofit that provides entrepreneurial training and mentorship programming to help minority women rise above poverty through empowered entrepreneurship and spiritual development. Dr. Trayham was recently honored by President Joe Biden, with a Lifetime Achievement Award for mentoring more than 8000 black business owners.

With concierge tax services for businesses, TakeAway Tax is a rapidly growing franchise that trains others interested in owning their own franchise in addition to providing tax preparation for organizations of all sizes.

"TakeAway Tax really understands the combined power of entrepreneurship, communication and business development and it will be an honor to share insights on small business growth with their attendees," said Dr. Trayham. "When we come together to pool our wisdom, experience and vision, our businesses all benefit from this collective knowledge and awareness."

The Tax Business Conference, to be held at The Ballroom at Bayou Place in Houston's Theater District, will convene tax professionals and firms to share ideas and insights to bolster business and inspire entrepreneurship throughout the industry.

Trayham's previous national speaking and marketing campaigns include VistaCreate, Cheddar News and Country Financial, among others. Her previous speaking engagements include the American Heart Association, Georgia Power, Arizona Chamber of Commerce and Industry, Greater Phoenix Urban League, Atlanta Business Chronicle, Texas Black Expo and many more.

About Dr. Velma Trayham:

Dr. Velma Trayham is an award-winning entrepreneur, author, speaker and economic empowerment specialist who believes in the power of inclusive, equitable businesses to create community and spark change. The CEO of Thinkzilla Consulting Group, which brings greater awareness to initiatives that support underserved communities, Dr. Trayham also founded the Millionaire Mastermind Academy, which has mentored more than 8,000 minority women business owners in its first three years. For more information, please visit https://thinkzillaconsulting.com/

RELATED LINKS:

https://velmatrayham.com/booking/

https://www.eventbrite.com/e/tax-business-conference-2022-tickets-358561596387

Highlighting the power of entrepreneurship to change the world and end poverty, award-winning B2B/diversity consultant and leader Dr. Velma Trayham (CEO of Thinkzilla Consulting Group) has been announced as the keynote speaker for TakeAway Tax's upcoming Tax Business Conference in Houston on Aug. 4.

Related link: https://thinkzillaconsulting.com/

The Importance of Integrity Within the Tax Consulting Industry

SAVAGE, Minn. /ScoopCloud/ -- Choosing a tax consulting firm as a trusted advisor is an exceptionally important decision for both businesses needing such services as well as accounting firms who refer them to their clients, says ICS Tax, LLC.

"The right firm can identify valuable credits and planning opportunities to reduce taxes as well as support their positions if audited. Recently, a national tax consulting firm was raided by the IRS Criminal Investigation agents specializing in tax violations and financial crimes. It is unfortunate to see that the IRS felt the need to take such drastic actions within our industry," said Alex Bagne, President of ICS Tax.

The right consultant can be your company's financial partner for life. Consider firms staffed with CPAs, attorneys, and licensed professionals as they can be your best choice. CPAs must follow the Code of Professional Conduct from the American Institute of Certified Public Accounting. Attorneys are governed by the state bar rules and statutes of professional conduct.

Certified Cost Segregation Professionals must abide by the code of ethics of American Society of Cost Segregation Professionals with integrity, honesty, and objectivity as their fundamental principles. Other licensed professionals, such as Professional Engineers and HERS Raters also must abide by codes of conduct.

At the very least when considering a tax consulting firm, first research them on the Internet. See if they have routinely lost tax court cases for overly aggressive positions, are frequently involved in employment lawsuits, or have been sued for racketeering, harassment, misconduct or other serious legal violations.

As tax consultants, ICS always looks after the public interest and honors their trust. The leaders at ICS include Certified Public Accountants, Attorneys, Certified Cost Segregation Professionals, HERS Raters, and Professional Engineers. We strongly advocate for our clients and provide comprehensive deliverables, including audit protection. ICS holds itself to the highest code of ethics established by both professional and industry standards.

ABOUT ICS TAX, LLC:

ICS Tax, LLC is a nationwide consulting firm providing innovative tax planning strategies. We collaborate with taxpayers and their advisors to identify credits and incentives that reduce tax liabilities and increase profitability. Visit https://ics-tax.com/ for more information regarding incentives such as the R&D credit, 179D deductions and many more.

Choosing a tax consulting firm as a trusted advisor is an exceptionally important decision for both businesses needing such services as well as accounting firms who refer them to their clients, says ICS Tax, LLC.

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

KROST Named 2022 Top 100 Firms by Accounting Today

PASADENA, Calif. /ScoopCloud/ -- KROST was recognized as a Top 100 Firm by Accounting Today. The firm ranked 76th with a 18.08% change in revenue from last year. KROST has now been ranked in this prestigious list two years in a row. With new services on the horizon, KROST continues to develop ways to add value for their clients. Their new services include, KROST Business Intelligence Solutions (Data Analytics), Environmental, Social, and Governance (ESG) Reporting, and Consulting, and Client Accounting Services (CAS).

"It's an honor to be ranked once again by Accounting Today and to be among the 12 other PrimeGlobal firms on the list. We are fortunate to have a dedicated team that contributes to our continued growth and success," said Jason Melillo, CEO, KROST.

"PrimeGlobal is delighted that 13 North American member firms are included in Accounting Today's Top 100 Firm List 2022. With more entries than any other global association, PrimeGlobal continues to top the table for the network or association with the most members in the Top 100." - PrimeGlobal.

Accounting Today's Top 100 Firms and Regional Leaders is an annual ranking that recognizes the largest tax and accounting firms by revenue, both nationwide and in specific regions. KROST is recognized as a regional leader in the west, which has the highest average growth rate of all the regions.

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

For more information about KROST's awards and recognition, visit: https://www.krostcpas.com/awards

ABOUT KROST CPAS & CONSULTANTS:

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers & acquisitions, and wealth management.

KROST was recognized as a Top 100 Firm by Accounting Today. The firm ranked 76th with a 18.08% change in revenue from last year. KROST has now been ranked in this prestigious list two years in a row. With new services on the horizon, KROST continues to develop ways to add value for their clients.

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

KROST Recognized by Los Angeles Business Journal as among Top Accounting Firms for 2022

PASADENA, Calif. /ScoopCloud/ -- KROST was recognized as one of Los Angeles Business Journals' Top 100 Accounting Firms in Los Angeles County, with 78% growth in revenue between 2020 and 2019, the firm is ranked 22nd on the list. KROST received this recognition during the Los Angeles Business Journal's Disruptor Awards virtual event.

"Our firm is honored to be recognized by the Los Angeles Business Journal yet again. We owe our success to our passionate, talented, and hardworking team members. We hope to continue our growth and success in the coming years," said Jason Melillo, CEO, KROST.

Each year, the Los Angeles Business Journal publishes the annual Book of Lists. The lists are comprised of companies across several industries and include details like size, revenue, top executives, and more. LABJ editorial and research teams provide in-depth analyses of the community's dynamic business and economic scene.

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

For more information about KROST's awards and recognition, visit https://www.krostcpas.com/awards

ABOUT KROST CPAS & CONSULTANTS:

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers & acquisitions, and wealth management

KROST was recognized as one of Los Angeles Business Journals' Top 100 Accounting Firms in Los Angeles County, with 78% growth in revenue between 2020 and 2019, the firm is ranked 22nd on the list. KROST received this recognition during the Los Angeles Business Journal's Disruptor Awards virtual event.

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

KROST CPAs & Consultants Announces Greg Kniss as Chairman of the Board, Jason Melillo as CEO and Keith Hamasaki as Principal of Assurance and Advisory

LOS ANGELES, Calif. /ScoopCloud/ -- Los Angeles-based CPA Firm, KROST CPAs and Consultants announced that Greg Kniss has been appointed to Chairman of the Board, Jason Melillo promoted as the new CEO, and Keith Hamasaki to Principal of Assurance & Advisory services.

Greg Kniss has been actively involved with the firm's business consulting and tax practice for nearly 40 years and has grown the firm from just a few members to now over 270 members. Through his leadership and guidance, the firm has been awarded Best of the Best and Top 100 firm for the last five consecutive years. KROST is proud to appoint Greg from Managing Principal to Chairman of the Board.

"We are grateful for Greg's leadership, and I hope to follow his footsteps to continue to grow firm with the same entrepreneurial spirit and progressive culture," said Jason Melillo, CEO of KROST.

Stepping in as the new CEO, Jason Melillo brings a tremendous amount of institutional knowledge with over 25 years at the KROST. As the previous Principal of the Accounting, and Advisory & Assurances Services team, his areas of expertise include foodservice, manufacturing, real estate, retail, as well as technology and professional services industries. Jason is a recognized as an industry speaker and has been a lecturer to large organizations such as the California Society of CPAs, the American Institute of CPAs, and organizations such as the California Restaurant Association.

"I am very excited for Jason to start his journey as the new CEO of KROST. His dedication to the firm gives me no doubt that he will take KROST to next level," said Greg Kniss, Chairman of the Board.

Following suit, Keith Hamasaki has been promoted to Principal of the firm's Assurance and Advisory practice. With over a decade of consulting experience, Keith specializes in audit and business advisory services to emerging and middle market companies. As an active member of the community, Keith has been a recurring Selection Committee Member for the Los Angeles Business Journal's CFO of the Year Awards and is on the Professional Advisory Board for Accounting Curriculum at Pasadena City College and Glendale Community College.

"I'm most proud of Keith's contribution to the profession. He has been instrumental in leading the A&A practice and has taken an active role in our campus recruiting and mentorship program to ensure a diverse and inclusive firm culture," said Jason Melillo, CEO.

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 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 provide traditional services as Tax, Accounting, Assurance & Advisory, KROST provides special services including Client Accounting, Mergers & Acquisitions, Wealth Management, Tax Specialty Services and KROST Business Intelligence/Data Analytics.

Learn more at: https://www.krostcpas.com/.

Los Angeles-based CPA Firm, KROST CPAs and Consultants announced that Greg Kniss has been appointed to Chairman of the Board, Jason Melillo promoted as the new CEO, and Keith Hamasaki to Principal of Assurance & Advisory services.

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

KROST Posts Record Year of M&A Advisory in 2021, Expects Trend to Continue in 2022

LOS ANGELES, Calif. /ScoopCloud/ -- KROST CPAs and Consultants reported a record year of M&A advisory work in 2021 and expects to remain equally busy in 2022. "We were involved in 21 buy-side and sell-side transactions in 2021," said Paren Knadjian, Head of M&A and Capital Markets at KROST.

"Most of the time as the exclusive financial advisor. We have also delivered a record number of due diligence reports, including Quality of Earnings reports, which we produce with our colleagues in the Audit department," Knadjian added.

KROST provides M&A expertise in valuation, deal negotiation, structuring, and financing, plus advice on the tax, accounting, and wealth management consequences of a transaction. "We provide both buy-side and sell-side advisory, and because we have experience in over 300 transactions, we know what current market acceptability is, and what is outside the scope of a transaction, depending on its size, industry, and structure. Outside of legal work, we can advise on virtually all aspects of an M&A transaction."

KROST led multiple $100+ million deals and worked in 6 different industries in 2021. Along with experts in Tax, Accounting and A&A practice areas, KROST has specialists in multiple industries including Healthcare, Manufacturing, Technology, Financial Services, and Entertainment. "We bring vertical as well as horizontal expertise," said Knadjian.

One of the transactions we worked on was the sale of Global Oncology to The Oncology Institute (NASDAQ: TOI). "The team at KROST were critical in our ability to navigate and complete this transaction," said Dr. Yang, the owner, and Chief Medical Officer of Global Oncology, "their experience and knowledge, on M&A matters, was vital throughout the process."

KROST was also the exclusive financial advisor in the sale of Integrity Bio to Curia. "We would like to thank the KROST team -they were invaluable in this transaction, and we relied on them enormously," said Michael Reilly, CEO of Integrity Bio.

"We expect to be as busy, if not busier, on M&A activities in 2022 as the dry-powder availability of Private Equity money, the accessibility and low cost of debt, for leveraged buy-outs, and the retirement/succession plans of the Baby Boomer generation, continue to be driving forces in deal-making in the current environment," said Jason Melillo, CEO of KROST.

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 in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit https://krostcpas.com/.

KROST CPAs and Consultants reported a record year of M&A advisory work in 2021 and expects to remain equally busy in 2022. "We were involved in 21 buy-side and sell-side transactions in 2021," said Paren Knadjian, Head of M&A and Capital Markets at KROST.

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

EnergyCAP Names Lalit Agarwal Vice President, Energy Management and Sustainability

STATE COLLEGE, Pa. /ScoopCloud/ -- EnergyCAP, LLC, the leading provider of energy management and utility bill processing software, today announced that Lalit Agarwal has been named Vice President, Energy Management & Sustainability.

This new leadership position at EnergyCAP will not only serve as the corporate subject matter expert in building energy management but will spearhead the company's ambition to expand its offerings for sustainability and carbon reduction goals as it relates to the built environment.

Lalit Agarwal formerly served as the Executive Director of University Operations and held numerous other energy and facilities roles over his 20+ year tenure at the University of Nebraska-Lincoln (UNL). At UNL, he and his team implemented EnergyCAP in 2016 to underpin the university's energy reduction and sustainability initiatives. Using technology driven innovative initiatives, from 2004 to 2020 UNL reduced their annual energy consumption 44% while the student enrollment and research activity increased on campus.

Lalit serves on the Board of Directors for multiple industry associations, including the Central Association of Physical Plant Administrators (CAPPA) and the International District Energy Association (IDEA). He currently chairs the Association of Physical Plant Administrators (APPA) Task Force for Productive, Smart Buildings Initiative. He holds a bachelor's degree in mechanical engineering from Osmania University in India and an MBA from the University Nebraska-Lincoln (UNL).

"The Vice President of Energy Management and Sustainability will play a critical role in the strategic direction of EnergyCAP," said Tom Patterson, CEO at EnergyCAP. "For someone like Lalit, who is so well respected in this industry, to have such conviction and belief around EnergyCAP's capabilities is strong validation of our solutions and our vision for the future. His decision to join our team emphasizes the magnitude, importance, and potential of the opportunity ahead of us."

"I have used my skills to serve UNL for the last two decades. With this transition, I hope to serve a broader array of institutions and organizations in helping them make progress towards and achieve their ESG goals," said Lalit Agarwal.

He added, "Since I was first introduced to EnergyCAP as a client in 2016, I have been very impressed with their focused approach to leveraging technology to solve the energy & sustainability industry challenges. I have also been very impressed by the team having such strong conviction in their mission. I look forward to joining the team, achieving collective success for the industry, and helping to drive a more energy efficient and sustainable world."

About EnergyCAP:

EnergyCAP is trusted by 10,000+ Energy Managers across the country to aggregate and monitor their utility and energy data. We help our clients make data-driven decisions about their building operations to increase energy efficiency and reduce their carbon footprint. Learn more at https://www.energycap.com/.

EnergyCAP, LLC, the leading provider of energy management and utility bill processing software, today announced that Lalit Agarwal has been named Vice President, Energy Management & Sustainability.

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

IRS Mandates Additional Requirements for R&D Tax Credit Refund Claims

SAVAGE, Minn. /ScoopCloud/ -- In 2007, the IRS made the Research & Development (R&D) tax credit a Tier 1 issue, says ICS Tax, LLC (ICS). Tier 1 issues were those of high strategic importance that had a significant impact on one or more industries, essentially meaning that the IRS would audit taxpayers filing amended returns on such issues. To taxpayers' relief, the Tiered Issue Process was eliminated in 2012, effectively placing the R&D tax credit in the same audit pool as other issues.

After the IRS was defeated on two refund claims stating that the taxpayers' claims lacked specificity and they had failed to state a claim, the courts held that the IRS could no longer assert their own forms (Form 6765) were insufficient to constitute a refund claim.

As a result of losing these claims, the IRS announced in a Chief Counsel memo released October 15, 2021 that taxpayers seeking refunds attributable to the R&D tax credit must meet the following five requirements:

* Identify all the business components to which the research credit claim related for that year.

* For each business component:

- Identify all research activities performed;

- Identify all individuals who performed each research activity; and

- Identify all the information each individual sought to discover.

* Provide the total qualified employee wage expenses, total qualified supply expenses, and total qualified contract research expenses for the claim year. This may be done using Form 6765, Credit for Increasing Research Activities.

The new rules go into effect on January 10, 2022. The IRS has stated there will be a transition period for a year and a grace period, giving taxpayers 45 days (expanded from 30 days on January 5th) to "perfect" a claim for refund before it comes mandatory for all refund claims.

What does "perfect" mean? If a claim for refund is determined to be deficient or if information provided was insufficient, the taxpayer will have 45 days to provide missing information. If the IRS does not receive the information requested, the entire refund claim will be rejected.

By issuing this new guidance, it has put R&D refund claims back into the forefront of IRS audit scrutiny akin to a Tier 1 issue, making R&D refund claims more burdensome for a taxpayer. The IRS new requirements further demonstrate the need to utilize a qualified R&D tax credit professional to properly document all refund claims.

Press Release Authors: Lacey J.S. Robb, JD, LLM; Contributing Author: Alexander Bagne, JD, CPA, MBA, CCSP.

About ICS Tax, LLC:

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.

To learn more about the R&D tax credit as well as other valuable tax ideas visit https://ics-tax.com/.

CITATION:

https://www.irs.gov/pub/irs-lafa/20214101f.pdf

In 2007, the IRS made the Research & Development (R&D) tax credit a Tier 1 issue, says ICS Tax, LLC (ICS). Tier 1 issues were those of high strategic importance that had a significant impact on one or more industries, essentially meaning that the IRS would audit taxpayers filing amended returns on such issues. To taxpayers' relief, the Tiered Issue Process was eliminated in 2012, effectively placing the R&D tax credit in the same audit pool as other issues.

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

Certa Partners with Comply Exchange, Digitizes Third Party Tax Journey

SARATOGA, Calif. /ScoopCloud/ -- Certa, the leading no-code third party risk management platform today announced its integration with Comply Exchange, a global leader in tax compliance.

Certa is the only platform that digitizes, orchestrates, and automates the entire third-party journey across procurement, compliance, IT, legal, finance, and other groups. Thanks to Certa's flexible platform-which allows clients to build customizable workflows without any code-companies are able to onboard third parties up to 5 times faster. Moreover, they have global governance, full control, and accountability over the end-to-end process.

Comply Exchange provides automated and intuitive tax solutions and compliance software that allows clients across all industries, such as AP departments, financial institutions, digital asset companies, and private equity firms, to keep up with the strict and rapidly changing tax regulatory requirements that are otherwise impossible to navigate. With a focus on risk mitigation and providing a seamless customer experience, the Comply Exchange applications can be configured and customized to meet each client's specific needs, all with real-time validation and leveraging the latest IRS guidelines.

This partnership allows Certa's current and future clients to benefit from Comply Exchange's extensive knowledge and experience related to tax regulation. Through Comply Exchange, Certa automates IRS Form W9/W8 collection and validation, and provides enhanced tax reporting and visibility to ensure clients are fully complying with IRS regulations and requirements.

"This partnership enables enterprises to collect 100% accurate tax information through Comply Exchange while automating the entire journey of third parties through Certa," said Certa Founder and CEO Jag Lamba.

"Automating the collection and validation of documentation through the account opening process significantly improves the user experience, whilst mitigating the risks associated with non-compliance of our customers. Our partnership with Certa now enables us to offer the very best of both worlds in a seamless end to end experience, something the industry has unsuccessfully strived towards for years. Now it's here!" says David Marley, CEO and Founder of Comply Exchange.

About Certa:

Certa is the fastest growing supplier management platform. Founded in 2015, Certa makes third-party risk management fast, easy, and modern. Using 80+ no-code integrations with trusted data sources, Certa helps companies onboard third-parties 5x faster while mitigating risk and improving compliance controls. Certa's clients include several Fortune 100, and top consulting and digital native firms. Certa is headquartered in the San Francisco Bay Area.

For more information or to schedule a demo visit our website, Twitter, and LinkedIn. https://www.getcerta.com/

About ComplyExchange:

Comply Exchange provides automated and intuitive tax solutions and compliance software that helps financial institutions, private equity companies and accounts payable departments conform with the stringent and ever-changing tax regulatory requirements. To learn more about ComplyExchange and its services, visit their website at https://www.complyexchange.com or LinkedIn.

Certa, the leading no-code third party risk management platform today announced its integration with Comply Exchange, a global leader in tax compliance. Certa is the only platform that digitizes, orchestrates, and automates the entire third-party journey across procurement, compliance, IT, legal, finance, and other groups.

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

EnergyCAP Appoints Thomas R. Patterson, Jr. as Chief Executive Officer

BOALSBURG, Pa. /ScoopCloud/ -- EnergyCAP, LLC (ENC), the leading provider of data and analytics software for energy and utility bill management, today announced that Thomas R. Patterson, Jr. (Tom) has been named as Chief Executive Officer (CEO) of the company. Steve Heinz, who founded the company in 1982, will retire from his role as CEO but will continue in an advisory capacity as a member of the Board of Directors.

With over twenty-five years of leadership experience in the technology industry, Tom has a proven track record of delivering value within public and privately held technology companies. His contribution to value creation has been delivered by developing strategic direction, accelerating growth, and driving operational excellence in execution across all areas of the business, while complementing organic growth through strategic partnerships and acquisitions.

Mr. Heinz commented, "After partnering with Resurgens Technology Partners in March, we began our search for my successor who would transform EnergyCAP into a company with much greater global impact on energy management and carbon reduction. After months of searching, I couldn't be more thrilled to welcome Tom. His experience makes him the ideal leader to guide our company into this new era. Most importantly, his character makes him a great match for the team. We have a tremendous company with great team members and a market-leading platform and solutions. I've never been more excited about the future of EnergyCAP."

Prior to joining EnergyCAP, Tom served as COO & CFO at several SaaS and hybrid SaaS-based companies, culminating in multiple successful exits to both strategic and financial sponsors. His previous experiences include leadership roles at: SambaSafety, Digital Map Products, Kareo, Teletrac, Quest Software, and Citrix.

"I'm honored to be joining a great company like EnergyCAP at such an exciting time and inflection point in the industry and the company's journey," said Tom. "From corporate America to the public sector, energy efficiency and sustainability is a key imperative and will have a lasting impact on society. EnergyCAP is well-positioned to capitalize on these market dynamics and positively contribute to the future of energy efficiency. I'm thrilled to partner with Resurgens and lead EnergyCAP's next phase of evolution and growth."

About EnergyCAP:

EnergyCAP, LLC (ENC) has helped more than 10,000 energy managers in government, education, and commercial organizations derive value from their utility bills and energy data. Clients use our comprehensive EnergyCAP software-based solution to streamline utility bill processing and auditing, track energy and greenhouse gas data, process campus chargebacks, target reduction goals, benchmark facilities, submit to ENERGY STAR, measure and verify energy & cost savings, create budgets and forecasts, and much more.

Learn more: https://www.energycap.com/

EnergyCAP, LLC (ENC), the leading provider of data and analytics software for energy and utility bill management, today announced that Thomas R. Patterson, Jr. (Tom) has been named as Chief Executive Officer (CEO) of the company. Steve Heinz, who founded the company in 1982, will retire from his role as CEO but will continue in an advisory capacity as a member of the Board of Directors.

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

ICS Welcomes Adam Finesilver CPA to the New Alabama Office

MONTGOMERY, Ala. /ScoopCloud/ -- ICS Tax, LLC is excited to announce its Southeast regional expansion with a new office in Montgomery, Alabama. ICS welcomes Adam Finesilver, CPA as its Regional Director. Adam brings over 13 years of experience providing tax advisory services to clients in real estate, financial and professional services industries. He graduated Summa Cum Laude, earned a Master of Accountancy, and has devoted his time to public accounting since 2007.

Adam said he "is thrilled to join ICS Tax to better serve his clients with tax saving opportunities such as cost segregation, 45L credits and R&D tax credits." In his role, he will be collaborating with taxpayers and tax professionals to identify credits, deductions, and incentives that can significantly reduce tax liabilities and increase profitability.

Montgomery, Alabama has been home to Adam for the past twenty years, where he resides with his wife and three young children. He has given back to his community by serving on the Montgomery Chamber of Commerce and as ambassador for the Alabama Society of Certified Public Accountants (ASCPA).

The new ICS Tax, Montgomery Alabama office is fully supported by a team of nationwide engineers and tax consultants. Adam is poised and ready to lower your tax liabilities!

ABOUT ICS TAX, LLC:

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies and specializes in both the 45L and 179D tax incentives. 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 located throughout the country.

Learn more at https://ics-tax.com/.

ICS Tax, LLC is excited to announce its Southeast regional expansion with a new office in Montgomery, Alabama. ICS welcomes Adam Finesilver, CPA as its Regional Director. Adam brings over 13 years of experience providing tax advisory services to clients in real estate, financial and professional services industries.

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

KROST Acts as Exclusive Financial Advisor for Integrity Bio in Sale to Curia

LOS ANGELES, Calif. /ScoopCloud/ -- Integrity Bio, Inc., a privately held formulation and fill-finish organization headquartered in Camarillo, California, was sold to Curia (formerly Albany Molecular Research, Inc. (AMRI)), a Contract Development and Manufacturing Organization (CDMO) and leading global provider of advanced contract research, development, and manufacturing solutions. KROST, a Los Angeles-based firm, acted as the exclusive financial advisor to Integrity Bio in the transaction.

Integrity Bio is known in the biopharmaceutical industry as an expert in hard-to-formulate biologics and fill-finish of unique therapies for phase I and phase II clinical trials. Integrity Bio formulates more than 60 large molecules in a typical year, including proteins, antibodies, lipid nanoparticles, peptides, and vaccines in liquid and lyophilized form. Curia currently provides customers with integrated solutions from formulation development through fill-finish commercial manufacturing across three facilities. The acquisition adds West Coast operations to Curia's East Coast and overseas capabilities.

Integrity Bio has been a client of KROST for ten years, during which time KROST provided Tax, Accounting, Consulting, R&D Tax Credit, Cost Segregation, and now, Mergers and Acquisitions services. KROST's service model is designed to guide and support businesses throughout their lifecycle, from early-stage start-ups to succession and exit planning.

KROST's M&A practice is led by industry veteran, Paren Knadjian, who joined the firm in 2017. Knadjian has nearly 25 years of experience in mergers and acquisitions, equity and debt financing. He has closed over $1.5 billion in transaction value throughout his career. As the leader of the firm's technology industry niche, Paren also assists companies in the business of technology and life sciences innovation.

"We have been advising Integrity Bio, its owners and management team for over 10 years. So when they were considering a sale, they turned to us to help them with deal value, deal structure, due diligence, accounting and tax matters, and transactional support. This acquisition comes at a meaningful time for the country. The work that Integrity Bio is doing, and will continue to do as part of Curia, will contribute to life-changing cures for health issues, much like we experienced in the last year and a half. This acquisition is not just a transaction; it has a huge impact on people's lives across the globe. I am thrilled we were able to assist Integrity Bio with this transition into their next chapter and look forward to seeing what Curia will do with their added capabilities," remarked Paren Knadjian.

"We would like to thank the KROST team - they were invaluable in this transaction, and we relied on them enormously," said Michael Reilly, CEO of Integrity Bio. "As part of Curia, we can now offer our customers not only world-class formulation and fill-finish but also world-class commercial manufacturing."

For more information about KROST's mergers and acquisitions, as well as capital markets services, visit https://krostcpas.com/ or contact Paren Knadjian.

For information about this transaction, please contact:

Paren Knadjian

Practice Leader - M&A and Capital Markets

626.538.3167

paren.knadjian@krostcpas.com

ABOUT KROST CPAS & CONSULTANTS

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers and acquisitions, and wealth management.

Twitter: @KROSTCPAs

Integrity Bio, Inc., a privately held formulation and fill-finish organization, was sold to Curia (formerly Albany Molecular Research, Inc. (AMRI)), a Contract Development and Manufacturing Organization (CDMO) and leading global provider of advanced contract research, development, and manufacturing solutions. KROST, a Los Angeles-based firm, acted as the exclusive financial advisor to Integrity Bio in the transaction.

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

Fanplayr Receives SOC 2 Type 2 Certification for Data Security Processes from American Institute of CPAs

PALO ALTO, Calif. /ScoopCloud/ -- Fanplayr, a global leader in online behavioral personalization, artificial intelligence and user privacy, announces it has successfully achieved the Service Organization Control (SOC) 2 Type 2 certification.

Developed by the American Institute of CPAs (AICPA), SOC 2 reports are intended to meet the needs of businesses that need detailed information and assurance about the controls at a service organization. The certification defines criteria for managing customer data based on five "trust service principles" - security, availability, processing integrity, confidentiality and privacy.

SOC 2 Type 2 is an audit or recertification of the controls put in place which confirms suitability of the design and operating effectiveness and will generally provide a greater level of trust to a customer or business partner due to the increased visibility of systems in action.

Fanplayr has been recertified specifically for Security, Confidentiality, and Availability.

"We have an excellent track record of protecting data," says Simon Yencken, CEO and co-founder of Fanplayr. "With data breaches continuing to be a worldwide problem, we cannot overstate the importance of maintaining safeguards to ensure the security of our customers' data."

Since acquiring and maintaining SOC 2 certifications can be relatively costly and time consuming, the process signals Fanplayr's commitment to continue working with major companies who require SOC 2 compliance or proof of equivalent safeguards.

"The SOC 2 certification is recognized and respected worldwide," said Rajiv Sunkara, CTO and co-founder of Fanplayr. "Establishing and maintaining SOC 2 compliance on an annual basis ensures everything we do is focused on the needs of our customers and the privacy of their data."

About Fanplayr

Fanplayr is a global leader in e-commerce behavioral data, using machine learning and AI to enable businesses to increase conversion rates and revenue, collect more leads, and retarget visitors with personalized recommendations during and after the shopping experience. Fanplayr is headquartered in Palo Alto, California with offices in New York, Buenos Aires, Brazil, Mexico, Milan, London, Manchester, Amsterdam, Stockholm, Hamburg, Melbourne and Tokyo.

Learn more at: https://fanplayr.com/

Media Contact:

Lacy Talton

(252) 467-5220

ltalton@percepture.com

Fanplayr, a global leader in online behavioral personalization, artificial intelligence and user privacy, announces it has successfully achieved the Service Organization Control (SOC) 2 Type 2 certification.

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

The IRS Collection is Now Back and Sending Final Intent to Levy Notices – Ace Plus Tax Resolution Suggests Tax Relief Strategies

LOS ANGELES, Calif. /ScoopCloud/ -- James Cha, a CPA and a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, underlines that the IRS is starting its collection actions by sending Final Intent to Levy notices, and urges taxpayers to act with tax relief strategies.

The IRS collection enforcement is now back! The IRS switched its lenient position during COVID-19 and has now started sending millions of Final Notices of Intent to Levy (Letter 11 or LT11) from June 15, 2021. Its Automated Levy and Systematic Lien Programs were halted since April 2020 due to COVID, but these programs have now returned. It's time to take action to protect your bank accounts, wages, and other assets and income from the IRS!

A levy occurs when the IRS collects the back taxes by seizing delinquent taxpayers' real or personal properties. Typically, levies are made on financial accounts held for them by others, such as a bank, a stockbroker, or an employer. Levies can be placed on bank accounts, social security benefits, and retirement income.

If anyone wishes to appeal this proposed levy action, Form 12153, "Request for a Collection Due Process or Equivalent Hearing," has to be sent to the IRS within 30 days from the receipt of LT11.

About 45 days after Letter 11 is issued, a levy will take place if the taxpayer has not contacted the IRS for resolution. The IRS computer sends levy notices to any financial institution suspected of holding funds under its Social Security numbers or names, or to any employers or contractors who have filed a W-2 or 1099 form showing they have paid them in the past. In addition to any properties, a levy can attach to any future federal tax refunds or state income tax refunds that they are to receive, in order to satisfy the federal tax liability.

James Cha, CPA, CTRS, says that "It is critical for the taxpayers to understand where they are in the collection process. Any delinquent taxpayers are highly recommended (or strongly urged) to start working out a deal with the IRS as soon as possible."

Upon receiving Letter 11, here are some critical points to consider:

* Get any missing returns filed as soon as possible to be in compliance.

* Respond to the notices or letters, and seek professional tax help for the best possible resolution options.

* Respond to IRS requests in a timely fashion.

Additionally, James states "It is also worth noting that I expect that the IRS will continue to hire many more new employees to ramp up its enforcement actions". In 2021, the IRS has already announced plans to hire 87,000 new employees, doubling their workforce over the next six years. The current administration has pledged $80 billion toward enforcement activities over the next ten years.

Tax Reliefs

In the case where the taxpayer is approached by the IRS for back taxes, the best possible course of action might be to adopt an approach to deal with the issue tactfully without panicking.

James believes "the best course of action is to see if they qualify for any tax relief options." However, this can only be done after delinquent tax returns have been filed and all current income tax or payroll tax deposits have been paid.

Businesses or individuals can settle their taxes substantially less than they owe through an Offer in Compromise if they qualify. Financial inability to pay is the most common reason an Offer is accepted, but it must be supported by and verified with well-prepared financial documents and statements.

Or, through an Installment Agreement, businesses or individuals may set up an affordable payment plan to pay off the back taxes. If they qualify for a Partial Payment Installment, they will not be paying off the full amount, as the balance left at the end of the payment term will be forgiven. Strategizing is crucial when submitting an application in order to maximize the benefit.

Also, they may be able to halt IRS collection actions by declaring a Currently Not Collectible status. To qualify for this status, they must prove they have a dire financial situation and none to very little income. The IRS will put a pause on their attempt to collect payment until the financial situation improves.

Lastly, business owners who have fallen behind on their Payroll Tax Obligations need to figure out the best method to protect themselves and deal with the IRS.

The Final Words

There are numerous tax relief options that are put forth by the government, but individuals and business owners should seek an experienced tax relief specialist who can strategize, take full advantage, and save considerable sums of money for taxpayers.

Ace Plus Tax Resolution provides permanent solutions to taxpayers with IRS and state tax problems. James Cha is a CPA and Certified Tax Resolution Specialist(r) at Ace Plus Tax Resolution, has been representing his clients and dealing with the IRS for over 30 years. His practice is in Los Angeles, but his clients are all across the nation.

Contact him at (213) 600-7388 or James@AcePlusTaxResolution.com for a free consultation.

VIDEO (YouTube) - How To Stop IRS Levy. Final Intent to Levy notice: https://youtu.be/Zmgi3Hb7Xlc

Watch all our YouTube videos about how to resolve your tax problems: https://www.youtube.com/channel/UCbL7h9yy9oOKyybrcPD_OXg/featured

James Cha, a CPA and a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, underlines that the IRS is starting its collection actions by sending Final Intent to Levy notices, and urges taxpayers to act with tax relief strategies.

Related link: https://AcePlusTaxResolution.com/

Travis Mlodzik Elected President of the American Society of Cost Segregation Professionals

SAVAGE, Minn. /ScoopCloud/ -- Travis Mlodzik, Central Practice Leader for ICS Tax, LLC has been elected President of the American Society of Cost Segregation Professionals (ASCSP). Cost Segregation is a tremendously valuable tax planning strategy for real estate investors. The ASCSP provides education, credentialing, and a code of ethics for its members while representing the very best professionals in the cost segregation industry.

When discussing what joining the ASCSP has meant, Travis stated it's "one of the best decisions I have made for both my professional and personal growth. The ASCSP has highly respected individuals from this niche industry within its membership and being able to network and learn from them has only made the industry stronger and more prominent."

On his personal growth, Travis says, "Since joining the ASCSP, I have gained confidence in my skill set, tax knowledge, communication skills and presenting how Cost Segregation can benefit taxpayers."

Travis adds, "I am truly humbled and honored to be recognized and elected by my peers for the Presidency of the ASCSP."

Since 2012, Travis has been an active member in the ASCSP and earned his Certified Member credentials in 2014. Travis currently chairs the Membership Committee, co-chairs the Education Committee, and assists the Conference Committee. In addition to committee responsibilities, Travis has served on the Board of Directors since 2015, holding elected positions of Director and most recently of Treasurer.

Travis earned a B.A.S. Construction Management degree from the University of Minnesota, Twin Cities and has over 15 years of experience and proven knowledge of construction, cost segregation, tax law, depreciation, and fixed assets. Travis resides in Apple Valley, Minnesota with his wife and two daughters. In his free time, Travis enjoys woodworking, hunting, fishing, and taking his daughters to Karate.

ABOUT ICS TAX, LLC

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies to real estate investors. 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 located throughout the country.

Learn more at https://ics-tax.com/

Travis Mlodzik, Central Practice Leader for ICS Tax, LLC has been elected President of the American Society of Cost Segregation Professionals (ASCSP). Cost Segregation is a tremendously valuable tax planning strategy for real estate investors. The ASCSP provides education, credentialing, and a code of ethics for its members while representing the very best professionals in the cost segregation industry.

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

Say Goodbye to Receipt Headaches! AmTrav and Emburse Automate Travel Expenses

AGOURA HILLS, Calif. /ScoopCloud/ -- AmTrav, the one connected platform for business travel, and Emburse, a global leader in expense management and accounts payable automation, today announced the next evolution in their partnership with the launch of their automatic receipts integration. This cutting-edge integration automatically populates AmTrav travel expenses in clients' Emburse expense wallets to save travelers, expense preparers and expense administrators time, frustration and mistakes.

Traditional travel and expense integrations all have shortcomings that cause errors and create additional work for users. Booking data feeds often don't match up with actual payment data, credit card data feeds are delayed several days and don't include receipts or important expense details, email forwarding is unreliable, and manually entering expenses and uploading receipts is a time-consuming pain for users.

The automatic receipts integration solves these pains by enabling AmTrav to send 100% accurate expense data and receipt images from the AmTrav point of sale to users' Emburse expense wallets. Users can then add these complete travel expense items to an expense report with one click. This feed includes any travel changes made through AmTrav, automatically populating expense records for additional fare amounts, change penalties or refunds. Emburse users can also designate expense owners to receive expenses for specific travelers.

This new integration builds on AmTrav and Emburse's history of simplifying clients' travel and expense processes since 2013. Busy travelers and expense preparers are freed from tedious tasks like uploading receipts and entering receipt data for travel purchases and travel changes. Expense owners no longer need to remind travelers to forward receipt emails for expense report preparation. And expense administrators get reliable expense data straight from the AmTrav point of sale, saving those administrators time and frustration as travel expenses reliably reconcile with company credit card statements with fewer user or system errors.

"The word 'integration' gets thrown around a lot these days, but the one between AmTrav and Emburse is robust and real-time," said AmTrav CEO Jeff Klee. "Customers who pick AmTrav and Emburse can get a travel management platform that they'll love, paired with a world-class expense management system, tightly integrated so their travel expense data flows accurately from one to the other to save all users time and headache."

To learn more about how AmTrav and Emburse can make travel and expense management easier for your team, reach out to AmTrav or Emburse today.

About AmTrav Corporate Travel

AmTrav is a new kind of technology and services platform that's driving business travel into a bold new era. Our easy-to-use solution empowers travelers and travel bookers to be more productive. Companies of all sizes use AmTrav to book trips, find savings, set travel policies, manage payments and expenses, and keep their travelers safe. Travelers love AmTrav because our one connected platform provides a seamless experience across the travel ecosystem and our travel experts and relationship managers are always ready to help. More than 1000 businesses use AmTrav to go places, meet people, build meaningful connections, and get the most out of every trip. For more information on AmTrav visit https://www.amtrav.com/, call us at 800-795-8371 or drop us a note.

About Emburse

Emburse humanizes work by empowering business travelers, finance professionals, and CFOs to eliminate manual, time-consuming tasks so they can focus on what matters most.

Emburse offers a growing portfolio of award-winning expense and AP automation solutions, including Emburse Abacus, Emburse Captio, Emburse Certify, Emburse Chrome River, Emburse Cards, Emburse Nexonia, Emburse SpringAhead and Emburse Tallie. Its innovative offerings are tailored to meet the unique needs of specific industries, company sizes, and geographies, and are trusted by more than 9 million users in more than 120 countries. Over 16,000 customers, from start-ups to global enterprises, including Boot Barn, Grant Thornton, Telefónica, Lufthansa Systems, and Toyota rely on Emburse to eliminate manual processes, make faster, smarter decisions, and help make users' lives - and their businesses - better.

Emburse is recognized as a leader in expense management and accounts payable automation by analyst firm IDC, and has received multiple awards for its high levels of customer satisfaction.

For more information on Emburse, visit https://www.emburse.com/, call 877-EMBURSE, or follow the organization's social channels at @emburse.

*LOGO link for media: https://www.Send2Press.com/300dpi/21-0624s2p-amtrav-logo-300dpi.jpg

AmTrav, the one connected platform for business travel, and Emburse, a global leader in expense management and accounts payable automation, today announced the next evolution in their partnership with the launch of their automatic receipts integration.

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