Accounting Standards Update (ASU) 2016-14, the new financial statement presentation for nonprofit (NP) entities, will become effective for many NPs this year (calendar year-ends) or in the following year (fiscal year-ends). What are the most important changes that our clients should be aware of and what do they actually entail? Classification of Net Assets We are mo [...]

There is traditionally a negative stigma about the demanding work environment of public accounting and consulting. If the perception is based on the long hours and deadlines, then I understand the associated disapproval. But if viewed through the lens of making a difference and helping clients succeed, then the culture, for me, is more about being more! Reflecting on [...]

Click here to listen to GHJ Partner Ilan Haimoff and Media Executive Tom Wolzien discuss potential game changers in the film and television industry while highlighting traditional and streaming media in the marketplace.

The world is changing, with new technologies making it easier to connect than ever before, and thus easier to work 24/7 with people across the globe. But while these changes mean great things for business, they also mean traditional companies need to change their mindset to compete against more progressive business models for the limited talent pool available. The p [...]

Jerusalem – one of the oldest and most known cities in the world – has opened its doors to Hollywood! While many production tax credits and rebates are available throughout the United States and around the world, one unique program provides grants and rebates for film and TV series that take place in Jerusalem and/or use of Jerusalem’s professional post-production fac [...]

The Tax Cuts and Job Act (“TCJA”) was signed into law on Dec. 22, 2017. The TCJA enacted modifications to the Internal Revenue Code (“IRC”) that will affect all areas of federal taxes including individual, corporate, partnership and others. State taxes were impacted due to its close relationship with federal tax. Since its enactment late last year, many states have [...]

GHJ Partner Ilan Haimoff interviews lawyers Neville Johnson and Doug Johnson, partners at Johnson & Johnson, LLP, on home video royalties class action lawsuits impacting the industry at large. Hear their insights and advice for those with participations and royalty deals. Click here to listen to their discussion

When a foreign investor becomes a U.S. tax resident, one easily overlooked U.S. tax issue is that such residence change may result in an adverse U.S. tax structure, sometimes referred to as a “Sandwich Structure.” What is a Sandwich Structure? Let’s use an example to explain what a Sandwich Structure is. A Chinese tax resident, Mr. Wang, owns a manufacturing compa [...]

For many years, I had associated Whole Foods’ inventory with innovative and high quality products. However, recently I realized this widely sought inventory is lacking in its availability and volume. I had believed that Whole Foods inventory shortages were specific to the time of day I shop for groceries or perhaps specific to the location where I shop. I believed tha [...]

In our last nonprofit blog “Risk Management for Nonprofits – How to Not Make the News,” Yulia Murzaeva noted seven commonly identified risk exposures that nonprofits are continuously faced with and should assess as part of their risk management strategy. This post will take a deeper dive into one of the most complex and highly targeted areas of risk management, Techno [...]