Overview: One area where complexities of U.S. taxation is clearly demonstrated is the Passive Foreign Investment Company (“PFIC”) rules. These PFIC rules generally apply to U.S. investors in a foreign corporation where U.S. ownership is 50% or less. A PFIC is any foreign corporation if – 75 percent or more of the gross income of such corporation for the taxable year [...]

On Wednesday, April 26, the White House issued President Donald Trump’s main goals and priorities for tax reform, including significant cuts of the corporate tax rates, moving to a territorial tax system and eliminating business tax breaks for special interests. The White House proposals were outlined in a one-page sheet of bullet points titled “2017 Tax Re [...]

At GHJ, we believe every day is a chance to #BeMore. Not do more. Not work more. Instead, we encourage one another to be the best we can be for one another – and our clients. In this era where technology has made life move faster than ever, we all need efficiency more than ever. What if I told you there are five ways to achieve more by doing less? We are all inundate [...]

The restaurant industry has been a major part of the economy as it accounts for roughly $800B in annual sales. However, with more people opting to make dinner versus spending on trendy dining experiences, recent trends seem to be setting the industry back. December 2016 saw the industry collectively generate negative same-store sales growth, which can be a sign of thi [...]

China has become the second largest theatrical market since 2012, but when it comes to distributing foreign films in China, Hollywood has not been able to enjoy much of China’s box office success. This lack of success is due to various market-access restrictions, such as the strict quota system and the low revenue-sharing remittance rate. Foreign-produced films are i [...]

I recently attended the Natural Food Products Expo West, held March 8-12 in Anaheim. The expo focused on the natural and organic food industry, which still has a relatively small market share. However, this market niche is growing at a swift rate that exceeds the food industry growth as a whole. I saw a trend toward showcasing natural foods in the large supermarket c [...]

Do you really know what the difference is between “sell by,” “best by,” “use by” or any of the other similar labels that are stamped on food products? If you don’t, or if you think you do but might not actually know, you are not alone; it can be flat-out confusing and as a result, there is unnecessary food waste. I will admit, as I traverse through the aisles of the l [...]

The Digital Entertainment Group’s 2016 Home Entertainment Report compiles the results of an annual member survey of DEG members, tracking sources and retail input. The results showed that consumer home entertainment spending rose slightly in 2016, powered by a double-digit rise in key digital categories, especially subscription VOD (or SVOD) while traditional DVD and [...]

Hi, my name is Kyle, and I feel very uncomfortable writing in the first person. This is pretty ironic considering I spend my time outside of work talking in the first person onstage doing stand-up comedy. Yes, an accountant is doing stand-up comedy. It’s 2017. Things don’t have to make sense anymore. Recently, I have been able to blend my passion for comedy with anoth [...]

On March 29, 2017, GHJ broadcasted an exciting webinar on the 2017 Outlook for Nonprofits. Partner and Nonprofit Practice Leader Donella Wilson of GHJ moderated a provocative discussion with Principal and Nonprofit Tax Leader Lauren Haverlock of GHJ and Nonprofit Consultant Larry Kaplan. For those of you who missed the webinar or wanted to revisit key topics that are [...]