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 [...]

In this episode of GHJ’s “Movie Business Podcast Series,” hosts Ilan Haimoff (Partner at GHJ) and Jason Squire (Professor Emeritus at USC School of Cinematic Arts and editor of The Movie Business Book Fourth Edition) discuss their predictions for the entertainment and media industry in 2022. The era of disruption and transition in entertainment will continue into [...]

On Nov. 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (IIJA), a $1.2 trillion spending bill to subsidize road repairs, public transportation, utilities and clean energy initiatives. In addition to this, the IIJA provided a broad definition of Digital Asset and requires all Digital Asset brokers to issue 1099s. DEFINITION OF DIGITAL ASSE [...]

Originally published in Los Angeles Times’ Diversity, Equity, Inclusion and Accessibility Magazine created by its B2B Publishing Division. Recently, diversity, equity and inclusion (DEI) has taken center stage in public discussions. Examples of this can be seen in popular culture where the importance of including creators, characters and viewpoints from a diverse ran [...]

A challenge that many firms face, regardless of their size, is capacity. As a growing midsize advisory and accounting firm, GHJ always strives to find ways to better service clients. Further, as a partner and the leader of GHJ’s Audit and Assurance Practice, I am always looking for creative solutions to be more efficient and create bandwidth for my team. Sometimes, th [...]

As the season of giving approaches, it is important to remind ourselves of the opportunities to give back to those without access to basic life necessities. GHJ Foundation is doing its part by contributing to organizations serving under-resourced communities. GHJ Foundation’s rotating Grants Committee convenes twice a year for its grant selection process. As part of [...]