Gross Mendelsohn Blog

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

2020 Payroll Update

By: Dawn Ebeling January 22, 2020

Social Security and Medicare tax As of January 1, 2020, the maximum amount of annual earnings subject to Social Security increases to $137,700 (from $132,900 in 2019). There is no limit on the amount of earnings subject to the Medicare tax.

Tax Challenges for Growing Businesses

By: Samantha Androsky January 21, 2020

Every business wonders how they can pay less in taxes. Or at least that’s what the firm’s managing partner, David Goldner told me when we sat down on the set of Next Level to chat about tax challenges that growing businesses often face.

Get more articles like this one!

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

How Taxpayers Will Be Impacted By Recent Tax Law Extenders

By: Chris Wehner January 13, 2020

With the holidays over, tax-minded individuals are now focused on gathering their paperwork to file 2019 returns and project what their tax situation will look like in 2020. Each year, Congress decides to extend or let expire various provisions of the tax law. This article summarizes some of the more commonly-used “extenders” so individuals and business owners may understand the impact of various courses of action.

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

By: Paul Cooke January 06, 2020

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.

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

By: Dawn Ebeling December 16, 2019

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.

How to Report Cryptocurrency Transactions

By: Chris Wehner December 03, 2019

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.