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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.

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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.

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

4 Key Insights From An Employee Benefit Plan Auditor

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.

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

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

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

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

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.

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

IRS Halts Processing of New Employee Retention Credit Claims

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.

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

Your Business May Need to Comply with New Corporate Transparency Act

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.

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