Regardless of your stage in life, a coordinated approach to tax and personal financial planning can help minimize expenses, maximize cash flow and allow you to achieve your short-term and long-term goals.
Integrating business and personal financial needs
One of our passions is working closely with business owners to make sure the financial aspects of their business and personal lives are in sync. When your personal wealth is concentrated in a non-liquid business we focus on the big picture – and your goals – to deliver integrated accounting, tax, consulting and investment management services that benefit businesses, their owners and families.
Gross Mendelsohn can help businesses and their owners through every phase of the cycle of ownership.
Owners who want to start a business will benefit from advice that includes the best type of entity to use, review of a business plan, and assistance in obtaining financing and capital.
For growing and mature businesses
Growing businesses can take advantage of our expertise in preparing cost / benefit analyses for decision making purposes. Need to move operations or acquire additional space? We can maximize the tax benefits by providing a cost segregation study. Will your expansion plans include other states? We can help with tax solutions that take advantage of state tax differences. Considering business outside of the U.S.? Thanks to our membership in BKR International, we have contacts in almost any country into which you might expand.
For business owners who want to grow through mergers and acquisitions, Gross Mendelsohn’s business valuation specialists can review financial information and help determine value, while our tax department can help structure an arrangement that will maximize the tax benefits of an acquisition.
For companies going public, we have consulted with owners through this process with an emphasis on taking advantage of income and transfer tax opportunities.
Mature businesses and their owners might have succession plans to consider. If the next generation is willing and capable of assuming leadership, we can help structure a transition strategy that rewards mom and dad without creating a crushing debt burden on the younger generation. If owners are looking outside of the family to sell their business, we can provide methods of structuring the sale that will take into account income tax, transfer tax, and retirement planning concerns.
Many of our clients are philanthropically inclined and we have helped them find the best solution that suits their needs. We can advise on the differences between the types of charitable entities (private foundation, donor advised fund, public charity) and which one work best for you. Additionally, we can help determine how to properly fund that entity (cash vs. marketable securities vs. nonmarketable securities) that will maximize tax deductions and minimize the net after-tax cost.
It is never too early to think about retirement planning. Making the right decisions now can help you have the lifestyle you want later. Our retirement planning specialists can help you achieve that lifestyle by mapping out an integrated approach to estate, tax, investment and personal financial planning.
If you are overwhelmed by investment-related decisions in today’s market, you are not alone. Through Grant/GrossMendelsohn, our in-house fee-only registered investment advisory firm, we’ll manage your investments so you don’t have to.
For wealthy families, Gross Mendelsohn manages the “family office,” handling needs such as banking, personal business services, bill paying, negotiations with vendors, and medical planning. As the chief financial officer of the family office, we act as your sounding board and personal business manager, offering reliable direction and execution of the family’s short-term and long-term financial goals and objectives.