Clients of any industry, who do not have a state and local tax specialist, often rely on a tax consultant to resolve issues. A tax consultant’s priorities include not only compliance but extend to saving the company money where they can. While businesses may prepare their tax returns themselves or have a traditional CPA handle personal property tax compliance and tax [...]

While Thanksgiving and the other winter holidays are a booming time for the food and beverage industry, the end of winter does not mean industry profits need to take a nosedive. Spring is a great time to measure the effects of a bloated winter that is full of holiday cheer, as it follows into a lull in spending for the first few months of the year. By looking at the e [...]

Each leader brings personal experiences into the workplace and uses the tools of life to solve problems and further one’s career. We cannot avoid it; we cannot turn off one part of our lives if we are to live authentically. As multi-dimensional humans, we draw from what we know and ideally select the best of our journey to inform how we operate with integrity and ex [...]

San Diego Workforce Partnership, a San Diego nonprofit agency funded primarily by government grants, recently made the news when its former facilities manager was convicted of embezzling over $450,000 from the nonprofit over the course of five years. The facilities manager was responsible for approving janitorial invoices and directed the agency contractors to purchas [...]

excerpt from our 2017 Entertainment Whitepaper: The Evolution of Profit Participations / Navigating Disruption in the Motion Picture and Television Industry Jennifer Sullivan, Senior Marketing Manager at GHJ sits down with Ben Sheppard to discuss the role of litigation in today's Entertainment Landscape. SULLIVAN: What does the term “expert witness” mean for the enter [...]

With an ever-growing practice of outsourcing functions across the entertainment industry and an overall increase in reliance on third-party contractors to perform what in-house employees had traditionally done in the past, a key question comes to mind: What should entertainment companies do to monitor such functions from a cost control, compliance and/or risk manageme [...]

The changes to the meals and entertainment (“M&E”) and employee fringe benefits has been one of the most confusing and misunderstood areas under the new Tax Cuts and Jobs Act (“TCJA”). As more information becomes available about the TCJA, there appears to be some consensus as to what M&E and employee fringe benefit expenses will qualify for a deductio [...]

In December 2017, new tax laws (called the Tax Cuts and Jobs Act) were enacted and became the biggest tax reform since 1986. These new tax laws heavily impact many individual taxpayers and businesses, including those in the entertainment industry. Two elements of the new tax act that especially affect entertainment and media companies are the deductions for loan-out c [...]

Bonus Depreciation Bonus depreciation is a method of accelerated depreciation, which allows a business to make an additional first-year deduction of the cost of qualifying property in the year it is placed in service. Qualified property must either: Have a regular depreciation life of 20 years or less Be computer software Be water utility property Be q [...]

On March 13, 2018, the IRS announced that the 2014 Offshore Voluntary Disclosure Program (OVDP) is set to close on Sept. 28, 2018. It gives the U.S. taxpayers who did not disclose their foreign financial assets only six months to come forward. Background U.S. taxpayers who have ownership in and/or signature authority over certain foreign financial assets (e.g [...]