Make A Payment 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

Nonprofit

Budgeting Best Practices for Nonprofits

Creating and managing your nonprofit’s budget probably isn’t a favorite annual task. Though budgeting may feel tedious or even overwhelming, having a clearly established budget plays a key role in your nonprofit’s ability to successfully execute its mission. A budget provides your organization with a financial roadmap to ensure resources are being allocated effectively, cash flow management, credibility with key stakeholders and much more.

Read More

Blog Feature

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

Maryland Extends Deadline for MarylandSaves Exemption to December 31, 2023

It has been quite some time since Maryland’s general assembly passed MarylandSaves in 2016. After much delay, Maryland finally put its retirement vehicle into motion on September 15, 2022, in the form of a Roth IRA account. Now that the program has been in full effect for over a year, applicable Maryland businesses must file for the annual exemption by December 31, 2023. Here are the details business owners need to know.

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  |  Forensics & Litigation Support  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Service Businesses

How Too Much Trust Can Erode Internal Controls

There’s a fine line regarding trust in a workplace environment. Too little trust in employees can diminish effective communication, increase conflict and decrease loyalty. But on the flip side, too much trust could create an opportunity for a key employee to defraud your organization, no matter what internal controls you have in place. Let’s look at how trust impacts the effectiveness of internal controls and different ways you can protect your organization, including a real-life case study.

Read More

Blog Feature

Forensics & Litigation Support

Fraud Prevention Tactics Could Have Prevented Massive NFL Team Theft

As first reported by The Athletic, a former employee in the finance department of the Jacksonville Jaguars is facing federal charges for allegedly stealing more than $22 million from the team over a four-year period. The employee, Amit Patel, was a mid-level employee who worked for the team for at least five full seasons, beginning in 2018. How did it happen?

Read More

Blog Feature

High Net Worth Families

New Rules Allow Rollover of Funds from 529 Plan to Roth IRA

There’s good news for families who diligently save for their child’s education with a 529 plan. Thanks to legislation passed in 2022, this popular savings vehicle just got more flexible. Starting in 2024, unused funds from a 529 plan can be rolled over into a Roth IRA. Let’s dig into the details.

Read More

Blog Feature

Nonprofit

How to Write a Nonprofit Audit RFP [Plus an Audit RFP Template for Nonprofits]

Hot dog, it's time to issue an RFP for audit services, said no nonprofit ever. If you’re like most nonprofit audit committee members and executive directors, you cringe just a little when it comes time to solicit proposals for a new audit firm. As an audit firm that responds to dozens of nonprofit requests for proposals (RFPs) every year, we’re here to offer advice (and a template!) on how to prepare your next audit RFP, what to include in it and suggestions for what you can leave out.

Read More