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Gross Mendelsohn Blog
A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.
Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Nonprofit | Service Businesses
The Paycheck Protection Program (PPP) is in the forgiveness stage for most businesses. Here’s an overview on how to navigate the PPP loan forgiveness process.
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Construction & Real Estate | Government Contractors
If your architecture or engineering firm is looking into working on state department of transportation awards or other federally funded contracts, you may have heard the term “overhead rate” or “indirect cost rate.” Calculating a rate for the first time can seem daunting. No worries. We’re here to answer some FAQs related to FAR overhead rates and audits.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Nonprofit | Service Businesses
Remote employees can complicate taxes for businesses. In most cases, having a remote employee creates nexus or the obligation to file tax returns and pay taxes in the local jurisdiction and/or state that an employee works.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Service Businesses
There are many different ways a business owner can transfer a family-owned business to the next generation. Each method comes with its own set of risks and benefits, especially when it comes to tax implications associated with the transfer or sale.
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If your government contracting business doesn’t have its CMMC certification, you could be ineligible for future contracts — causing a hard hit to your revenue stream. With all eyes on cyber security these days, CMMC compliance is a critical issue that government contractors need to tackle. With CMMC compliance being required by many 2022 contracts, now is the time for government contractors to work toward the certification.
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Construction & Real Estate | Government Contractors | Healthcare | Manufacturing & Distribution | Service Businesses
Businesses who are subject to Virginia income tax may need to file a one-time Unitary Business Report by July 1, 2021. If your company is required to file this report but fails to file by July 1, your business will be subject to a $10,000 fine. This new filing requirement affects businesses that are part of a “unitary business.”
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