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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.

Accounting for Common Area Maintenance Expenses

Common area maintenance (CAM) costs are expenses incurred by a landlord to maintain or manage common areas in places like shopping centers or office buildings. For example, a parking lot in a shopping center or the lobby in an office building requires...
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Understanding the Company-Specific Risk Premium: A Guide for Attorneys

Whether it’s part of a contentious divorce hearing or to assist a client in selling their business, a valuation is extremely important in determining the value of a business. Understanding risk factors is essential in determining how a business will be...
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The Labor Crisis: Where Are All the Workers?

When I ask business owners about the challenges facing their business, there is one common theme that runs across all industries — the labor dilemma. By now, we have all experienced the effects of the “Great Resignation.” Local businesses have shortened...
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Late Filing Penalties to be Waived for Some Taxpayers

Certain late tax filers are about to see some relief. The IRS is abating the late filing penalties for various tax returns for 2019 and 2020 that were filed late or have not yet been filed. This announcement came on August 24, 2022, when the IRS issued...
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7 Tips for Nonprofits Implementing the New Lease Standard

After numerous delays, the new lease standard has arrived. Any nonprofit organization with at least one lease will be impacted for years beginning after December 15, 2021, which will generally be your nonprofit organization's accounting year end for the...
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How to Spot a Rigged Business Valuation

There are many instances when a business valuation report is needed in litigation. During a divorce, if one or both spouses own a business, it may be necessary for the business to be valued for asset distribution purposes. Each party may hire their own...
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