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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.

3 Reasons to Choose Your 401(k) Plan Auditor Very Carefully

Whether your organization has had a 401(k) plan in place for years, or you are just putting one into place, you know all about the seemingly endless string of documentation and regulatory requirements that hang over your plan like a dark cloud.
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Quick Guide: Functional Expense Classifications for Nonprofits

Nonprofit organizations are constantly under scrutiny as to how they allocate their functional expenses in their statement of activities. Unlike for-profit entities, nonprofits must provide a statement of activities in the financial statements about...
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5 Types of People You Need On Your Nonprofit’s Board of Directors

One of the most misunderstood components of any nonprofit organization is the board of directors. Nonprofits typically base board member selection on two things: the candidate’s interest in the organization’s mission and the size of the candidate’s...
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Audited Financial Statements for Construction Companies: Are They Necessary?

Under current accounting rules, accountants are allowed to prepare compiled, reviewed and audited financial statements. Each service provides a different level of assurance, and as you move up the level of assurance, the cost to the business owner...
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5 Strategies to Diversify Concentrated Stock Positions

Business owners and executives pour their hearts and souls into building a successful company. Often their hard work and dedication pays off, quite literally, with the sale of the business to a publicly traded company. Those corporate executives and...
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Divorce and Income Determination: Forensic Accounting to the Rescue

As a matrimonial attorney, you know better than anyone that divorce can bring out the worst in people. Despite their best efforts to work amicably, divorcing husbands and wives often end up being less than forthcoming.
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