Gross Mendelsohn Blog | Ernie Paszkiewicz

Ernie Paszkiewicz

7 Ways to Spice Up Your Nonprofit’s Board Meetings

By: Ernie Paszkiewicz July 19, 2021

You want board members who can contribute to your mission through their efforts, contacts or money. Stated simply, they need to have a passion for your mission. This ensures a level of interest that will help even if board members have different opinions on how to achieve the mission.

Before Transferring Your Family Business to the Kids, Consider These Things

By: Ernie Paszkiewicz May 17, 2021

I was on my way home the other day, talking with a client who was stressed about a major decision she was facing. After years of pouring her heart and soul, not to mention money, into building a successful family-owned business, she was ready to move on and pass it along to two of her children. She called to talk about the tax implications of selling the business, but instead of talking about capital gain, avoiding double taxes and minimizing tax liability, I steered the conversation in quite a different direction.

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8 Characteristics of Successful Family-Owned Businesses

By: Ernie Paszkiewicz May 10, 2021

There’s no magic bullet for making your family-owned business hum smoothly along from one generation to the next. The good news? You can learn from successful family-owned businesses that have made it to the second, third, fourth and even fifth generations. I took some time to think about my most profitable family-owned business clients and identify what they all have in common. Here’s what I came up with.

Quick Guide: Exit Planning for Family-Owned Businesses

By: Ernie Paszkiewicz April 22, 2021

If the COVID-19 pandemic has taught us anything, it’s that we don’t know what’s coming around the corner. And like the pandemic, the next thing that comes around the corner will likely be out of your control. But there is something you can control with some careful planning: the transfer of your family-owned business. Let’s talk about business exit plans.

Exit Planning Would Have Saved This Family-Owned Business from Bankruptcy

By: Ernie Paszkiewicz February 03, 2021

Whether you want your company to continue growing after you retire or simply want to turn a profit on the sale of your business, every company owner needs an exit plan. As a CPA who has worked with business owners for decades, I’ve seen several companies unravel simply because they failed to plan ahead. Here’s just one example of a company that lost it all.

New Lease Standard Is Delayed for Privately-held Organizations

By: Ernie Paszkiewicz May 22, 2020

The Financial Accounting Standards Board (FASB) just authorized an Accounting Standards Update (ASU) that will defer the implementation of three accounting standards for private companies. The standards involve accounting for leases, credit losses and hedging.