In a previous Tax Alert, GHJ discussed the reporting requirements imposed by the Infrastructure Investment and Jobs Act (IIJA), which went into effect on Nov. 15, 2021. The IIJA includes two provisions that increase the reporting requirements of digital assets and expand Form 1099 filings to include transfers of digital assets. WHAT IS A DIGITAL ASSET? Under the pro [...]

As diversity, equity, inclusion and accessibility (DEIA) have become buzzwords in the corporate world, many organizations have adopted culturally sensitive calendars and mandatory DEIA training for employees. Although these practices are a great step in the right direction, there are many not-so-obvious ways that employers can take their DEIA commitments to new levels [...]

Originally posted by Training Magazine. Diversity, equity, inclusion and accessibility (DEIA) are more than guidelines, programs or quotas. Empowering all employees is part of building an inclusive company. Diverse teams bring forth innovation, which makes a business competitive and successful. Los Angeles-headquartered accounting and advisory firm GHJ’s multicult [...]

Do you remember what it was like when you first started your career? Remember how it felt walking around the office, meeting new people, constantly learning new topics or even remembering where to find the office bathroom? Starting a new job can be confusing. As people move up in their careers, part of their job is to lift others as they climb. As they say, “If you a [...]

The pandemic impacted how people live and, most notably, how they interact — after avoiding large groups and sitting behind a camera in 2020 and 2021, many have returned to the office a few days during the week. Even those who are comfortable presenting are feeling a little rusty alternating between live, hybrid and virtual meetings. I grew up performing on stage, s [...]

Networking is an essential tool for business development — maintaining a network allows a person to develop, learn more about their industry, stay on top of hot-button issues, increase their public profile and meet new clients. For many, traditional networking conjures up the image of a stuffy business meeting or a crowded conference. But maintaining a network can be [...]

Tax rules affecting trusts are always complex, but once a foreign trust comes into the picture, there are many pitfalls for taxpayers in the United States to consider. These pitfalls can result in unexpected filings and high penalties for even small infractions. The implications for U.S. tax purposes vary greatly depending on the classification of the trust and the [...]

Ahead of a looming threat of recession, as well as during an actual recession, capital becomes more risk-averse because there is real or perceived increased potential that capital provided may not return as economic uncertainty increases. While pricing may increase to compensate for some of the risk, the typical response is to husband capital, particularly in the re [...]

During any challenging environment, liquidity is king — cash allows a business to meet payroll, fund vendor purchases, prudently extend credit to customers and meet fixed obligations, such as rent, principal and interest payments on debt and other payments required to keep the doors open. In this installment of the “How to Prepare for a Recession” blog series, learn [...]

For private companies and nonprofits, ASU 2016-02, Leases (ASC 842), is now effective for fiscal years beginning after Dec. 15, 2021. Many companies and organizations may have waited to adopt these changes and may continue to hold off until their annual financial statements are due — but with Dec. 2022 around the corner, there is little time left to postpone. If it ha [...]