When incentive stock options (ISOs) vest, they create an opportunity for exercise, but understanding the tax implications and strategic timing is essential for success. The following are the qualification requirements for ISOs: Option price must be at least the fair market value (FMV) of the stock at the grant date Option must be granted pursuant to a w [...]

In celebration of Black History Month, GHJ is proud to share the inspiring stories of four Black professionals who are breaking barriers and shaping futures within the Firm. Black professionals remain underrepresented in the accounting and finance industry. A study by the Journal of Accountancy noted that Black professionals make up just 2 percent of all Certified Pub [...]

Corporate Transparency Act (CTA) is a law which requires certain entities to report beneficial ownership information to the United States Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). The original deadline for filing was no later than Dec. 31, 2024, for companies in existence prior to Jan. 1, 2024. (Click here for GHJ’s prior Alerts on the to [...]

Tax relief measures are available for individual taxpayers impacted by the Los Angeles County wildfires and offer potential deductions and gain deferrals for personal casualty losses. From casualty loss deductions to gain deferrals, understanding these tax rules is essential for maximizing recovery. BACKGROUNDAs Angelenos look to recover what was lost in the Janu [...]

What are the biggest legal battles in Hollywood? Explore the evolving impact of artificial intelligence, the shifting economics of streaming, profit participation disputes and the rise of preemptive litigation strategies in Hollywood. In this episode of GHJ’s Media Clip Podcast, GHJ’s Entertainment Practice Leader Ilan Haimoff is joined by leading entertainment a [...]

When dealing with the aftermath of a natural disaster, understanding how to calculate and report business loss, or in some cases manage taxable gain, is crucial. Los Angeles’ recent wildfires have had a devastating impact on businesses and caused substantial property damage and economic losses. Beyond the immediate toll on property and operations, businesses must also [...]

The route to market for consumer packaged goods (CPG) has undergone significant transformations in recent years to adapt to consumer behavior and market dynamics. GHJ recently sat down with Larissa Russell, CEO of distribution company Pod Foods, to better understand these changes. Larissa shed light on the driving forces behind these adaptations and their implications [...]

As growing businesses are faced with the task of equipping leadership with the tools necessary to make informed financial decisions, it becomes imperative that an appropriate accounting solution be in place. While historically, companies have elected to address these finance and accounting roles by hiring and retaining full-time in-house team members, the emergence of [...]

The U.S. income tax system generally imposes federal income taxes on U.S. citizens’ and U.S. permanent residents’ (green card holders) worldwide income whether or not the individual is residing in the U.S. or in a foreign country. Although there are some exceptions in tax treaties for worldwide taxation of green card holders, those exceptions create various complexiti [...]

The recent wildfires in Southern California have caused devastating losses to homes and businesses, which has left many to navigate not only the rebuilding process but also the financial recovery needed to resume operations. One of the most critical tools for financial recovery is business interruption insurance, which can help businesses regain lost profits, cover on [...]