Gross Mendelsohn Blog

4 Key Insights From An Employee Benefit Plan Auditor

By: Jonathan Lovell November 22, 2023

With employee benefit plan audit season not too far in the rearview mirror, it’s a good time to reflect on lessons learned. I’m sharing a few insights, from the point of view of an employee benefit plan auditor, for clients who are required to have their plan audited.

Mastering the Art of Depreciation: Choose the Perfect Tool for Your Business

By: Brooke Dunkelbeck October 25, 2023

Depreciation: the unsung hero of every business's accounting saga. It's the silent force that ensures your financial records dance to the rhythm of balance, a vital element in the complex symphony of profit and loss. Yet, for all its importance, selecting the right depreciation tool can be daunting. Fear not! We're here to turn this mundane topic into a thrilling expedition through the world of financial wizardry.

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Uncovering a Phantom Workforce: The Dangers and Prevention of Ghost Employees

By: Will Sasser September 22, 2023

Payroll theft comes in all shapes and sizes and often lies hidden below the surface. Fraudsters who perpetrate ghost employee schemes use the shadow of another employee to cover their tracks. One of the best ways to prevent payroll theft is to understand what ghost employees are, and the motives behind their creation. Through a real-life case study, we look at how payroll fraud can be perpetrated, then offer strategies to uncover and prevent this kind of fraud.

IRS Halts Processing of New Employee Retention Credit Claims

By: David Leipnik September 18, 2023

The IRS announced a moratorium on the popular Employee Retention Credit through at least the end of 2023. Here’s what you need to know about the moratorium.

Your Business May Need to Comply with New Corporate Transparency Act

By: Chris Wehner September 01, 2023

There’s a new law that should be on the radar screen of most small- and medium-sized business owners. The Corporate Transparency Act (CTA), passed in 2021, will require many businesses to take action in 2024. Now is the time for business owners to be aware of what’s coming down the pike with the new law, understand how they might be affected and the steps they need to take to comply.

Tax Credits for New Electric Vehicles Purchased In 2023

By: Brian Nichols August 23, 2023

If you’re one of the half million Americans who purchased an electric vehicle so far in 2023, you might be eligible for a tax credit.