The California 2024-2025 budget enacted two recent tax bills, which may impact taxpayers with California Net Operating Loss (NOL), California tax credits and water’s-edge filers with foreign dividend income. A summary of these bills is highlighted below: SENATE BILL 167 California Senate Bill 167 (SB 167) was enacted into law on June 27, 2024. Relevant provisions [...]

In the world of mergers and acquisitions (M&A), the process of financial due diligence is an essential step in evaluating the value, risks and potential of a target company. While much emphasis is often placed on the buyer's side of due diligence, the role of the seller in preparing for this process is equally critical. In fact, proactive seller preparation can not on [...]

GHJ’s Profit Participation Services Practice performs forensic consulting reviews of motion picture and television participation and other royalty statements to ensure that the profits are shared with participants in accordance with the applicable agreements. As participants evaluate whether to pursue an audit of their profit participation, here are five things they [...]

In this episode of Nonprofit Bytes, GHJ Nonprofit Expert Masyn Burgess continues the dialogue on cutting-edge tech solutions with GHJ IT Director Jerry Leever. Focusing on artificial intelligence (AI), they delve into tips for successful AI implementation and the development of AI policies for nonprofit organizations. AI adoption is on the rise, but the technolo [...]

The Ahmanson Foundation funds nonprofit organizations based in and serving Los Angeles County and has become a leader among private foundations in implementing enterprise-wide policies for cybersecurity. Private foundations must recognize that cybersecurity is an expansive area of concern that intersects with legal, operational, reputational and financial issues. [...]

The recent Supreme Court ruling on Moore v. United States has drawn significant attention to the Mandatory Repatriation Tax (MRT) under the Tax Cuts and Jobs Act (TCJA). This decision upholds the IRS's stance on taxing certain foreign corporations' accumulated earnings and underscores the need to understand and comply with these intricate tax laws. Navigating internat [...]

How can organizations ensure they are prepared for potential cybersecurity threats? There are several steps that can be taken. STEP 1: UTILIZE DIFFERENT ROLES IN THE FOUNDATION FOR A TOP-DOWN APPROACH Every department should have a clear understanding of its responsibilities. But ultimately, the risk management strategy must come from the executive team. Their role [...]

Mentorship and sponsorship play vital roles in advancing diverse talent in the workplace. By understanding their distinct contributions and the positive impact they have on creating an inclusive environment, employers and team members can take practical steps to support colleagues from diverse backgrounds. As we commemorate Juneteenth, it is crucial to reflect on the [...]

Despite a slower-than-expected start in the first quarter, 2024 holds promise for a rebound in merger and acquisition (M&A) activities. The anticipation of upcoming Federal Reserve rate cuts and a gradual increase in deal volumes fuel optimism for a robust recovery as the year progresses. Q1 2024 IN REVIEW Despite the consensus that 2024 will see a rebound in M&A ac [...]

Pride Month is an important time to reflect on the strides that have been made toward equality and the work still needed to support the LGBTQIA community. Beyond parades and celebrations, it is important to consider the integral changes within the professional environments that honor and respect diversity year-round. Affixed to the bottom of every work email I send a [...]