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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.

Supreme Court Decision Gives Businesses a Good Reason to Re-Visit Succession Plan

Last year the Supreme Court released an important decision in Connelly v. United States that has the potential to impact many business owners.
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2025 Payroll Update

Social Security & Medicare Tax As of January 1, 2025, the maximum amount of annual earnings subject to Social Security increases to $176,100 (from $168,600 in 2024). There is no limit on the amount of earnings subject to the Medicare tax. The maximum...
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Industry 5.0 Brings a Shift to Human-Centered Innovation In Manufacturing

The manufacturing industry has forever been transformed by the fourth industrial revolution, also known as Industry 4.0. The question becomes, as more manufacturers have begun to embrace and implement new and emerging Industry 4.0 technologies, how can...
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4 Ways for Construction Contractors to Minimize Their Chance of an IRS Audit

Thanks to a variety of industry quirks, construction companies are especially vulnerable to IRS audits. However, by avoiding some common audit triggers you can keep Uncle Sam away. Here are four ways to minimize your risk of an IRS audit.
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Post-Election Tax Analysis: Expiring Tax Laws & Trump’s Tax Proposals

The more things change, the more they stay the same. In 2025, major provisions from the Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire. These provisions are widespread and likely to affect you as a taxpayer. With the Trump administration...
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Cost Segregation Studies Are a Powerful Tax Strategy for Real Estate Owners

If you own real estate, tax planning is crucial because it can help you reduce your tax liability, increase profitability and avoid unexpected tax bills. By understanding and applying tax strategies, real estate owners can make the most of deductions,...
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