It is important for taxpayers to be aware of the retroactive changes made to the Energy Efficient Home Tax Credit and the new standards for the tax credit beginning in 2023. The Internal Revenue Code (IRC) Section 45L credit was extended, increased and modified under the Inflation Reduction Act (IRA) of 2022, which was signed into law by President Joe Biden on August [...]

The pandemic impacted how people live and, most notably, how they interact — after avoiding large groups and sitting behind a camera in 2020 and 2021, many have returned to the office a few days during the week. Even those who are comfortable presenting are feeling a little rusty alternating between live, hybrid and virtual meetings. I grew up performing on stage, s [...]

Networking is an essential tool for business development — maintaining a network allows a person to develop, learn more about their industry, stay on top of hot-button issues, increase their public profile and meet new clients. For many, traditional networking conjures up the image of a stuffy business meeting or a crowded conference. But maintaining a network can be [...]

The end of the year 2022 is fast approaching, but it is not too late for taxpayers to make some decisions prior to year-end to save on taxes in 2022 or plan tax strategies for 2023 and beyond. While 2022 has been relatively slower on tax legislation reforms than prior years, there are certain prior legislations that are worth revisiting now. Below are some quick poi [...]

Tax rules affecting trusts are always complex, but once a foreign trust comes into the picture, there are many pitfalls for taxpayers in the United States to consider. These pitfalls can result in unexpected filings and high penalties for even small infractions. The implications for U.S. tax purposes vary greatly depending on the classification of the trust and the [...]

In this episode of the Media Clips Podcast from 2019, GHJ Profit Participation Services Practice Leader Ilan Haimoff discusses the landmark case over 21st Century Fox’s long-running series Bones with two members of the legal team: Chad Fitzgerald, Partner at Kinsella Weitzman Iser Kump Holley LLP, and John Berlinski, Principal at Bird Marella. This lawsuit, which [...]

Originally published by Beverage Daily. The craft beer industry has been on quite a ride over the last two decades. After many years of successive double-digit growth, the industry is settling into a more mature phase. The industry is feeling pressure from consumers, distributors and retailers, and it shows in the numbers. According to the Brewers Association, total [...]

In this video, Profit Participation Services Practice Leader Ilan Haimoff, Filmed Entertainment Practice Leader Peter Klass and Profit Participation Services Supervising Senior Grace Guenon offer a sneak peek at a recent film analysis conducted by GHJ’s Profit Participation Services Team. The analysis examines revenue streams for motion pictures released in the past [...]

Ahead of a looming threat of recession, as well as during an actual recession, capital becomes more risk-averse because there is real or perceived increased potential that capital provided may not return as economic uncertainty increases. While pricing may increase to compensate for some of the risk, the typical response is to husband capital, particularly in the re [...]

During any challenging environment, liquidity is king — cash allows a business to meet payroll, fund vendor purchases, prudently extend credit to customers and meet fixed obligations, such as rent, principal and interest payments on debt and other payments required to keep the doors open. In this installment of the “How to Prepare for a Recession” blog series, learn [...]