In 2024, the film and television industry faces increasing challenges from the competitive streaming landscape and mounting pressure on media companies to reduce debt and boost profitability. This has led studios and streamers to rethink their strategies and consider a move from substantial upfront buyouts to more flexible compensation models that combine fixed paymen [...]

In the dynamic landscape of today's business world and era of data-driven decision-making, staying ahead of the competition requires more than just intuition and industry experience. Business owners are increasingly turning to data analytics and artificial intelligence (AI) tools to gain valuable insights that can transform the way they operate and view the strategy o [...]

In this episode of GHJ’s Business Disruption and Resilience Podcast, GHJ Food and Beverage Practice Leader and Guest Host Maria Pearman explores how an innovator in the beverage alcohol space aims to revolutionize the supply chain. Maria talks to Brad Abramson, Chief Science Officer for New Tides Distillery in San Diego. Inspired by droughts in California, New Tide [...]

In the beverage alcohol space, Black Americans represent 12 percent of alcohol consumers but only two percent of alcohol executives, according to Pronghorn. But there are innovators seeking to transform the industry and promote diversity, equity, inclusion and accessibility (DEIA). Jackie Summers is the CEO of Jack from Brooklyn, producer of Sorel Liqueur. In 2012, h [...]

On December 21, 2023, the IRS launched a new Voluntary Disclosure Program (VDP) that allows businesses to pay back money received from erroneous Employee Retention Credit (ERC) claims. This program is intended to provide much-needed relief for taxpayers who were deceived by unscrupulous ERC promoters into filing improper claims for refunds. Further, the program will p [...]

Co-authored by Lynn Mucenski-Keck at Withum The Inflation Reduction Act (IRA) was signed into law on Aug. 16, 2022 and allocates over 85 percent of the expected total $433 billion in expenditures to energy security and climate change. President Biden’s goal for the United States to reduce economy-wide net greenhouse gas pollution to 50-52 percent of 2005 levels by 2 [...]

The U.S. Treasury Department and the IRS released proposed regulations under Internal Revenue Code (IRC) section 987. The proposed rules provide long-sought guidance for taxpayers on how to calculate foreign exchange gains and losses of foreign branches and certain non-U.S. entities treated as disregarded entities for U.S. federal income tax purposes, which are referr [...]

With the Corporate Transparency Act (CTA) becoming effective January 1, 2024, businesses must pay close attention to new compliance requirements. WHAT IS THE CORPORATE TRANSPARENCY ACT? Signed into law on Jan. 1, 2021, the CTA aims to create a national database of companies in the U.S. that identifies the human beings behind the companies as owners or control person [...]

What do entertainment professionals need to know to find financial success? On this episode of the Media Clips Podcast, Host and GHJ Entertainment Practice Leader Ilan Haimoff is joined by a panel of distinguished experts from across GHJ’s service lines:GHJ Entertainment and Media Tax Expert Dan Li shares what taxpayers can do now to reduce their tax bill in 2024. Cli [...]

As the year draws to a close, high-net-worth individuals who are business owners have a unique opportunity to strategically manage their tax liability and optimize their financial position. Year-end tax planning is a crucial aspect of wealth management and for those with substantial assets, careful consideration can lead to significant savings. Check out some key ta [...]