The world of video on demand (VOD) is evolving steadily as VOD networks and their content suppliers continue to find synergies and profit strategies beyond everyone’s expectations. It seems like both sides are not necessarily in opposition at this point – both just want to figure this out. One example is the speed at which first-run films are getting to VOD. The trad [...]

By Liubou Partnaya (Tax Senior Associate, GHJ) With Donald Trump as President-elect, proposals presented during his campaign are brought to the forefront. Among his proposals are sweeping changes to our income tax laws. Here is a quick overview of individual and business tax reform positions. Major highlights for individual taxpayers include: Simplifying the tax code [...]

They say there are those who have a green thumb, and those who do not. I fall somewhere in the middle of “those who do not.” I struggle every day just to water my plants, if only for the opportunity to watch as they grow and thrive right in front of my eyes. As it turns out, many more Americans are doing the same or more when it comes to growing their own food. An est [...]

Some of the many tax items that companies send out in the early part of each year are payroll forms: W-2, 1099-MISC and a few others. Under prior rules, employers and business had until Feb. 28 to submit the previous year W-2 to the Social Security Administration and 1099-R and 1099-MISC (Box 7, non-employee compensation) to the IRS. The IRS has shorten th [...]

It is a rare feat when two nonprofit organizations are able to come together and join resources to increase the collective impact they have in the community. It is just as rare to have enough donor contributions that allow them to do so. The amount of time, work, and of course, due diligence, that goes into making something this amazing happen is astronomical. I was a [...]

By Sherri Carstens, CFE (Senior Manager, GHJ) and Ilan Haimoff (Partner, GHJ) Let’s imagine the perfect world when it comes to a profit participation audit of a studio film or television series distribution statement: You (Producer) wake up on a Monday and decide it is time to audit. Within days, your attorney sends an audit notice to the studio, and by the end of t [...]

In previous blog posts, we have written about federal and state tax incentives for the entertainment industry, including the Section 199 domestic production activities deduction (DPAD) and state film tax credits. Another significant federal tax incentive is the Section 181 treatment of certain qualified film, television and live theatrical productions, which will be d [...]

Our film and television profit participation forensic reviews have a life of their own beyond the issuance of our report. Therefore, and based on popular demand, we wanted to share further information on what typically occurs beyond that point. Let’s imagine we have completed our review, and you have our final report in your hands. Now what? Submitting our Report: Bas [...]