Client Portal Contact
Let's Talk

Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

Blog Feature

Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Service Businesses

Exposure to Personal Liability of Business Owners and Employees Increases Thanks to Wayfair Court Decision

The Supreme Court’s decision in South Dakota vs. Wayfair continues to have a ripple effect for businesses with interstate sales. With the Wayfair decision adding potentially significant sales tax exposure to some businesses, there is also the potential for increased exposure to the personal liability of unsuspecting business owners, corporate officers and even employees like tax and finance managers. It’s more important than ever for “responsible persons,” which we’ll define in a moment, to understand their responsibility and potential liability in the sales tax process.

Read More

Blog Feature

Construction & Real Estate  |  Government Contractors  |  Manufacturing & Distribution  |  Service Businesses

Economic Presence vs Physical Presence: Sales Tax Considerations After Wayfair

In June 2018, the United States Supreme Court issued their ruling in the case of South Dakota vs. Wayfair, which cleared the way for states to collect sales tax from businesses that do not have a “physical presence” in the state, but do have an “economic presence” in the state. While much attention has been given to the impact on online retailers, the decision potentially impacts the sales tax obligations of any business that makes remote sales to out-of-state customers. While some states are still reacting to the decision, many states have already implemented laws that require remote sellers to collect and remit sales tax on sales to out-of-state customers without having a physical presence in the state. Understanding this new and still evolving sales tax landscape is important for any company that conducts business in multiple states.

Read More
Gross Mendelsohn Blog

Get more articles like this one!

Subscribe to our blog, and we'll send articles straight to your inbox when they're published.

Blog Feature

Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Businesses Must Use New Form W-4 Starting January 1, 2020

The long awaited new Form W-4 is finally here. Here’s the rundown on the new form, which businesses must start using for new employees hired on or after January 1, 2020.

Read More

Blog Feature

Nonprofit

E-Filing Will Be Mandatory for All Tax-Exempt Organizations

The IRS recently announced new rules for e-filing requirements for tax-exempt organizations. The Taxpayer First Act requires all tax-exempt organizations to electronically file Form 990. Currently, only a limited number of nonprofits are required to file electronically. That all changes for tax-exempt organizations starting with tax years that begin after July 1, 2019. Let’s look at the kinds of organizations and tax returns that are affected.

Read More

Blog Feature

Fresh Ideas

Gross Mendelsohn’s Staff Gets Social

Our firm has had a strong presence on social media for years, but when our staff asked for tips for using social media tools like LinkedIn to supplement their own networking efforts, we got right to work pulling together an internal training program. We turned to four social-savvy Baltimore area business people for help, and invited them to participate in a panel discussion called “How to Use Social Media to Supercharge Your Networking Efforts.” Our staff was invited to submit questions to the panel in advance of the discussion. Here are just some of the takeaways, which can be used by anyone in any line of work.

Read More

Blog Feature

Construction & Real Estate  |  Healthcare  |  High Net Worth Families  |  Manufacturing & Distribution  |  Service Businesses

How to Report Cryptocurrency Transactions

The IRS recently publicized that it will be cracking down on taxpayers for not properly reporting cryptocurrency transactions. In this article, we’ll summarize different types of transactions and how the IRS has recommended they be reported.

Read More