The City of Los Angeles (City) has enacted an Amnesty Program (Program) for a limited period beginning 10/1/2020 and ending 12/17/2020. The Program is an effort to encourage new taxpayers to come forward and to reduce the financial tax burden on the existing City taxpayers. The Program is available to both registered as well as unregistered taxpayers. Who is Subjec [...]

COVID-19 has opened up the world of remote working and the number of remote workers has jumped in recent months. While state and local orders continue to require that certain employees work remotely or telecommute during the pandemic, employers may now see an increase from employees working remotely on an extended basis. This is due to the numerous benefits (such as r [...]

Originally published in HLB's Insights. Value creation in any business is rooted in growth. All other things being equal, higher-growth businesses enjoy greater transaction multiples (and, consequently, value) than do companies with lower growth rates. Growth in a business comes from five different sources: Expanding the product set offeredReaching more customers [...]

Tom Barry’s new blog series, “OWNING the New Normal: Innovators creating the way forward,” will focus on business leaders exploring the current and evolving business environment. The discussion will revolve around recognizing that leaders must innovate and pivot to “own” the future and move forward. Every industry has been changed by COVID-19. Deal making is no exce [...]

The Tax Cuts and Jobs Act of 2017 (“TCJA”) introduced several tax provisions and made significant changes to existing tax law. One major provision is section 1061[1], which is commonly referred as the Carried Interest Legislation. Section 1061 intends to prevent certain taxpayers from paying taxes at the lower long-term capital gain tax rates by utilizing various part [...]

Originally published in HLB Insights The outbreak of COVID-19 has brought unprecedented challenges to the global economy, pausing much of the activity across the world. After a long spell of record-high M&A activity over the past decade, deal-making was brought to a screeching halt as the pandemic shock diffused throughout the world economy. What was once expected [...]

COVID-19 has shifted many industry sectors of the workforce. For companies that are able, social distancing measures have made remote work the new norm. Employees are transforming homes into workspaces, often simultaneously managing childcare and personal obligations. Businesses are facing difficult decisions about how to adapt and survive this profound shift, and hir [...]

In the wake of the COVID-19 stay-at-home orders, business owners should examine their company’s liquidity position and assure availability of staying power, whether or not there are additional waves of shutdowns. In this environment, it is critical to have sufficient liquidity to be both offensive and defensive with a business. Planning for an Uncertain Future Owner [...]

Originally published in Los Angeles Business JournalThe COVID-19 pandemic has forced companies to re-invent themselves in the short term. For many, the priority has been to weather the economic fallout by maintaining adequate cash flow and ensuring overall liquidity, all while keeping their employees safe. As the region slowly begins to emerge from this crisis there w [...]

The COVID-19 pandemic is as unprecedented medically as it is financially. Never before has there been a period in which all business have had to collectively look at their liquidity and assess the short-term future in such a critical manner. Such situations are typically reserved for discrete business models, niches or geographies. For every single business to contemp [...]