Gross Mendelsohn Blog | Service Businesses

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 Law

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.

Get more articles like this one!

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

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.

FASB Issues Guidance on How to Account for Related Party Leases

By: Marie Calabrese April 27, 2023

There’s new guidance for businesses and nonprofits that are subject to the relatively new lease accounting standard.

Beware of Employee Retention Credit Scams

By: David Leipnik March 22, 2023

If advertisements about the Employee Retention Credit (ERC) have grabbed your attention, you’re not alone. Scammers have jumped on the opportunity to convince business owners to claim this potentially lucrative tax credit. Here’s what you need to know about the ERC, who qualifies and how to avoid falling victim to a scam.

QuickBooks Desktop 2020 to be Discontinued

By: Lina Vaz February 24, 2023

Intuit recently announced that it will discontinue service for QuickBooks Desktop 2020 as of May 31, 2023. If you use QuickBooks Desktop 2020, you have some decisions to make. Let’s look at how this will impact your business and what your options are as May 31 approaches.