On September 14, the IRS announced an immediate moratorium through at least the end of the year on processing new claims for the Employee Retention Credit (ERC). This pause comes amid rising concerns about a flood of improper ERC claims filed by promotors who engage in aggressive marketing tactics to ineligible applicants that are said to provide an “unacceptable risk [...]

In this episode of the Media Clips Podcast, Host and GHJ Profit Participation Services Practice Leader Ilan Haimoff is once again joined by two experts on motion picture and television financing: Akin Gump Partner and Entertainment and Media Practice Head Chris Spicer and Bank of America Entertainment Industries Group Head Randy Hua. Chris and Randy were last on th [...]

Taxpayers are facing uncertainty around recent changes to IRC Section 174, which dictate the tax accounting treatment of research and experimentation (R&E) expenditures. Going beyond tax returns, these changes are impacting tax negotiations in business transactions. WHAT IS SECTION 174? The Tax Cuts and Jobs Act of 2017 (TCJA) modified taxpayers’ ability to deduct [...]

Co-authored by R&D Incentives Group Sr. Manager Farrell Gerbode With the upcoming 2022 tax compliance deadline, one item that is hitting taxpayers hard is the mandatory Section 174 capitalization rules. What makes it worse is the little guidance provided by regulatory authorities around the scope of Section 174, especially around some of the indirect costs. WHAT IS [...]

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) will often revisit and revise accounting standards to respond to the changing business landscape. While many businesses are still responding to ASC 842, there is a new standard that will need to be considered next: Financial Instruments — Credit Losses. BACKGROUN [...]

INTRODUCTION For many decades in Hollywood, studios producing television series have been generally consistent with: How they distribute television series;How they share profits with stakeholders through contingent compensation (modified adjusted gross receipts, or MAGR); andHow they share information about the success of the series. Distribution of a series has ha [...]

On this episode of the Business Disruption and Resilience Podcast, GHJ Private Equity Expert and Guest Host Austin Hobson speaks to Robinson Bradshaw Partner Adam Berkland about what businesses at all stages need to know when preparing to receive institutional capital. Based in North Carolina, Adam primarily works with startup tech companies in the Research Triangl [...]

Originally published in Philanthropy News Digest. Trust-based philanthropy (TBP) gained popularity during the pandemic as nonprofits needed to respond quickly to changing needs. It has taken on many names over the years as the concept grew in popularity, but TBP lessens the burden on nonprofit grantees and creates a more equitable power dynamic between grantors and g [...]

Originally published in Inside Philanthropy. Amid global shifts due to the COVID-19 pandemic and a nationwide reckoning around social justice, philanthropy has taken a new shape. More donors are exploring trust-based philanthropy, a charitable approach that aims to make giving more democratic, inclusive and collaborative between funders and grantees. This approach ai [...]

The Employee Retention Credit (ERC) is a refundable payroll tax credit that was introduced during the COVID-19 pandemic to incentivize employers to maintain employment levels during a government shutdown or period with a significant decline in financial performance. For most businesses, the ERC may be available for wages paid after March 12, 2020 and before Oct. 1, 20 [...]