It is not uncommon for a client to inform us of an article that they have read, which was published in one of the well-known and reputable publications, about yet another profitable multinational corporation with no corresponding U.S. income tax obligation. Moreover, they want to know how can they set up their affairs to legally do the same. Once it is explained that [...]

By: Richard Ruvelson While many tax-exempt organizations have been concerned about the provisions of the American Taxpayer Relief Act of 2012, there are some other tax “reporting” issues that I want to remind tax-exempt organizations to consider over the next few weeks. Form 990 Since the 2012 Form 990 instructions were released on the IRS website on February 1st, [...]

GHJ recently conducted a targeted survey of food industry business owners and executives to explore topics such as business growth, pricing issues, new-business strategies and financial management. This year’s survey results show that owners are cautiously optimistic about the growth of their businesses in 2012 and through 2013. We presented the results of this survey [...]

By: Richard Ruvelson Happy Super Bowl weekend! This is the inaugural issue of our GHJ Nonprofit Tax Blog and I want to start out by saying how happy I am to be back in Southern California after 14 years and am enjoying the relatively warm weather. Although we had a cold spell recently, it’s still a lot warmer than the Twin Cities and I am enjoying my view of Catalina [...]

The Fourth Quarter of 2012 was a busy time in California from a tax legislative standpoint. California residents potentially saw a significant increase in their personal income taxes as a result of the passage of proposition 30. In addition, sales tax rates have increased effective January 1st, 2013. California based businesses should see som [...]

On January 1, 2013, the House of Representatives passed H.R.8, the American Taxpayer Relief Act (the Act). The President is expected to sign the legislation. The Act averts many of the tax hikes that were scheduled to go into effect on January 1st. It also retains certain tax breaks that were scheduled to expire, but it also increases income [...]

Does tax policy change the way in which people behave economically? Could higher tax rates generate lower revenue to the government? This has been an age old tug of war amongst economists since the Kennedy administration proposed tax cuts in 1962, and the ushering in of the so called "Laffer Curve" by Professor Arthur Laffer when he argued against the 1974 tax increas [...]

Welcome to the Entertainment Newsletter, containing content related to the people, news and business issues we see in our day-to-day service to the industry.In This IssueFilm production tax credit extended– On September 30, 2012 Governor Brown extended the tax credit for California based television and film productions through 2017. The $100 million annual program is [...]

With the 2012 election behind us, we wanted to provide you with a brief overview of the likely changes immediately ahead of us and its implications for taxpayers from both a federal and California perspective. The election, which ultimately turned out to be a status-quo election with the same parties that controlled the White House, the Senate and the House [...]