As part of the Tax Cuts and Jobs Act (“TCJA”) enacted at the end of 2017, a new Internal Revenue Code Section 199A (“Section 199A”) was created to provide a 20 percent deduction for owners of pass-through entities (partnerships, S-Corporations, and sole proprietors) for taxable years beginning after December 31, 2017. Although the goal of Section 199A is to provide a [...]

The U.S. Treasury released final Code Section 965 regulations on January 15, 2019, known as transition/repatriation tax, which clarify many unanswered questions and concerns. The clarifications are mixed with good and bad news. One of the clarifications, related to section 965(h) acceleration events, is very time sensitive. Background 2017 Tax Reform enacted a on [...]

Originally published in Small Business Magazine Today As the profession evolves, it is important to identify and understand an accounting firm’s evolving “DNA” or culture. How we hire, develop and nurture our talent is the foundation for a successful organization and thriving employees. The Future of Accounting An accounting firm’s DNA had typically been based on [...]

In the past 12 months (starting late December 2017), we have seen perhaps the most significant changes to tax laws since the last major tax reform in 1986. These changes came from all three branches of the government. Congress passed the “Tax Cuts and Jobs Act of 2017” (“TCJA”) and the President signed it into law on Dec. 22, 2017. The TCJA contains several significa [...]

ASC 606 - Revenue from Contract with Customers represents the most significant change in accounting methodology in the past 20 years. The objective of the new guidance is to create and help standardize how revenues are recognized across all industries to improve comparability and transparency. ASC 606 has the potential to significantly impact the way that revenue has [...]

GHJ is committed to staying up-to date with food and beverage industry trends, KPIs and innovations. As part of this commitment, GHJ sends its Food and Beverage Practice leaders to various conferences and tradeshows throughout the year. This past month, I had the privilege of attending Supply Side West with fellow GHJ Food and Beverage Expert and Senior Manager Andr [...]

The California Department of Tax and Fee Administration (CDTFA) announced recently in Special Notice L-565 that, beginning April 1, 2019, a retailer located outside of California is required to collect use tax if, during the preceding or current year: The retailer’s sales into California exceed $100,000, or The retailer made sales into California in 200 or more sep [...]

GHJ Entertainment Partner Ilan Haimoff talks with Jason Squire, Professor at USC School of Cinematic Arts, about his predictions for the entertainment and media industry in 2019. Click here to find out what is on the horizon.

For many, the holidays are a time to convene with family and recharge our energy. We reflect on our gratitude for one another, and the clients we serve. And we gear up for inspiration to move into the year ahead, with a renewed commitment to one another. With this in mind, GHJ has provided our people with a week off between Christmas and New Year’s Day for the las [...]

I recently had the opportunity to attend two very interesting food and beverage trade shows. First the Supply Side West (SSW) show in Las Vegas, followed by the Private Label Manufacturer’s Association (PLMA) show in Chicago. I was able to visit with several GHJ clients attending these shows and also get a sense of where the industry is heading as 2019 nears. While th [...]