Gross Mendelsohn Blog
A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.
If you updated your home in 2022 or 2023 to be more energy efficient, you might be eligible for one or more tax credits. Tax credits are an excellent way to reduce your tax liability.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Nonprofit | Service Businesses
There’s new guidance for businesses and nonprofits that are subject to the relatively new lease accounting standard.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Service Businesses
If advertisements about the Employee Retention Credit (ERC) have grabbed your attention, you’re not alone. Scammers have jumped on the opportunity to convince business owners to claim this potentially lucrative tax credit. Here’s what you need to know about the ERC, who qualifies and how to avoid falling victim to a scam.
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Government contractors who do business with the Veterans Affairs Administration (VA) will soon have a great deal of increased cyber security and data privacy responsibilities after the VA recently updated cyber security compliance regulations. These new regulations better protect sensitive VA-related data stored in a contractor’s IT systems. The VA Acquisition Regulation (VAAR) is increasing focus on immediate breach notification requirements, the liquidated damages related to those breaches as well as unscheduled and intermittent site visits to inspect the IT systems housing the VA-related data. Contractors need to be in compliance with the new regulations in order to avoid the possible heavy penalties.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Nonprofit | Service Businesses
Intuit recently announced that it will discontinue service for QuickBooks Desktop 2020 as of May 31, 2023. If you use QuickBooks Desktop 2020, you have some decisions to make. Let’s look at how this will impact your business and what your options are as May 31 approaches.
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Forensics & Litigation Support
Determining a couple’s income is one of the most critical financial issues in a divorce case. Reviewing the couple’s Form 1040, to start, can help paint a picture of their financial position and lifestyle. Divorce attorneys who know where to look for key information on tax returns can gain an edge over their opponents. Everyone is required to disclose certain information in their tax returns, including total income, wages and alimony received. These numbers can serve as compelling evidence when making a case for identifying and dividing marital assets, proving the existence of hidden assets and determining income for support purposes. Let’s consider what an individual’s personal tax return can reveal, and where to look.
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