How do independent producers get funded? On this episode of the Media Clips Podcast, Host and GHJ Profit Participation Services Practice Leader Ilan Haimoff is joined by Loyola Marymount University Associate Professor of Finance David Offenberg and GHJ Profit Participation Expert Tracy Liang. David is a leading expert on entertainment finance and has spoken extens [...]

The accounting industry is facing an identity crisis. According to the Wall Street Journal, late-career accountants are retiring, mid-career accountants are leaving the profession and fewer students are entering the field to fill those gaps. How do firms ensure success with a shrinking talent pool? If creating an accessible workplace is not part of your business stra [...]

While the United States House of Representatives signed a 45-day continuing resolution, which temporarily funds the government while a broader deal is worked out, a shutdown could be on the horizon. In order to prepare, businesses can take action now to ensure they are prepared if there is a government shutdown. ASSESS GOVERNMENT CONTRACTS, IF APPLICABLE Government [...]

The United States taxes its citizens, resident corporations and tax residents on a worldwide income basis. U.S. taxpayers who have cross-border business operations often find themselves caught up in a net of complicated international tax rules, both in the U.S. and in the country where they want to operate. Beyond the sheer complexity of these rules, U.S. taxpayers al [...]

On this episode of the Media Clips Podcast, learn about independent film productions in the U.S. and around the world. Explore the opportunities and challenges that independent producers face in the current production landscape. Host and GHJ Profit Participation Services Practice Leader Ilan Haimoff is joined by Raskin Gorham Anderson Law Partner Eric Harbert and F [...]

On this episode of the Media Clips Podcast, host and GHJ Profit Participation Services Practice Leader Ilan Haimoff is joined by Motion Picture and Television Fund (MPTF) President and CEO Bob Beitcher to discuss how the entertainment community is supporting each other through labor disputes. The Writers Guild of America (WGA) and SAG-AFTRA are currently on strike, [...]

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 [...]