Profit participation agreements generally include incontestability language, which only allows the profit participant to audit statements issued up to two or possibly three years prior to the date of the audit notification. On one hand, the rationale for this restriction may come from the challenge of storing documents, so the longer the tolling period, the longer the [...]

It is no secret that the food and beverage industry has experienced a tumultuous couple of years, and unfortunately, strains from the pandemic still linger. With the new year, what are some of the trends seen in 2021, and what will be coming down the pipeline in the future? As GHJ’s Food and Beverage Practice Leader, I recently had the opportunity to join industry e [...]

The streaming era is upon us. As major releases made their way online instead of movie theatres, studios have had to rethink the way they make offers. Major news developments have continued to transform the way profitability is calculated and, in turn, the way deals are made. Dan Scharf, head of global business affairs for Amazon Studios, joins hosts Ilan Haimoff [...]

Also authored by, Morgan Dipo, SVP, Commercial Banking, Bank of America Inflation is in the news again after a hiatus of several decades. Consumers are experiencing increases in the cost of living in many segments of their monthly spending, and it is changing how they spend and how businesses keep up with uncertainty in pricing. As measured by the Consumer Price Ind [...]

GHJ Search and Staffing Practice Leader Derrick Coleman hosts this episode of the Business Disruption and Resilience Podcast all about The Great Resignation. Derrick is joined by GHJ Chief People Officer Alex Seiler and the Children’s Bureau Chief People Officer Kymberly Garrett for a discussion about employee recruitment and retention. They compare and contrast how [...]

The Employee Retention Credit (ERC) was first introduced in the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 27, 2020. The ERC provisions have been subsequently modified by both the Consolidated Appropriations Act of 2021 (CAA) and the Infrastructure Investment and Jobs Act (IIJA). Since the ERC was not widely used in 2020, there has not been si [...]

Dedicated to helping employees #BeMore, GHJ’s Women’s Empowerment Committee recently hosted guest speaker Pallavi Ridout, a leadership and life- transformation coach, for a presentation about career development. Pallavi is an engaging and award-winning motivational speaker who shared her experiences and provided practical strategies on how to live with no regrets. On [...]

Governor Newsom signed SB 113 Economic Relief: COVID-19 on Feb. 9, 2022. The bill includes but is not limited to the following significant tax relief: PASS-THROUGH ENTITY (PTE) ELECTIVE TAX CHANGES: Taxpayers can use the PTE Elective Tax Credit to offset the state’s tentative minimum tax for tax years beginning on or after Jan. 1, 2021. Pass-through entities that ha [...]

Generally, under the tax rules of many countries – including the U.S. – a shareholder of a corporation is not taxed until income is distributed as a dividend. This can result in a potential deferral of tax by using offshore entities located in low-taxed or no-tax jurisdictions. The U.S. has enacted anti-deferral rules intended to change the current taxation of certa [...]

The complexity of the U.S. income tax system is legendary. Many countries use it as a blueprint for their own tax legislation. This complexity is even more significant for foreign nationals who plan to spend time in the U.S. or become what is known as “accidental Americans” based on the U.S. tax residency rules. Here is some clarity with regard to these rules: RESID [...]