Gross Mendelsohn Blog

New SBA 8(a) Thresholds: Why Reviews May Now Make More Sense than Audits for Growing Government Contractors

If you lead a small or midsize government contracting firm, you’ve likely heard a familiar refrain over the years: “We need an audit.” For many 8(a) businesses, that was true — because the Small Business Administration’s (SBA) previous reporting...

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The Best Tax Planning Happens Long Before the Sale of Your Business

For many business owners, taxes are one of the biggest unknowns when thinking about exiting their business. Questions like How much will I owe? or What can I do to reduce taxes? often come up — sometimes too late in the process to make a meaningful...

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AI & Data Security: How to Protect Your Business In an AI Driven World

Artificial intelligence tools exploded into the workplace almost overnight. What started as a novelty — typing a question into a chatbot — has quickly evolved into something much bigger: employees using AI to draft client communications, summarize...

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Redefining Finance With AI: What CFOs Should Know

The role of today’s CFO looks very different than it did a decade ago. Finance leaders have moved beyond number crunching to help set strategy and guide organizational growth. Now, the rise of generative AI (GenAI) is taking that transformation to the...

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How to Build a Strong Exit Strategy for Your Business’s Future

You’ve poured years — maybe decades — into building your business. But what happens when you’re ready to step away? That question was the focus of our recent webinar, Is Your Business Ready for What’s Next? Exit Planning for Business Owners, where our...

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Why Reconciled Financials Matter In Exit Planning — Long Before Selling

When business owners think about selling or transitioning their company, they often focus on timing, buyers and price. What’s easy to overlook is something far more fundamental: the condition of the financials. Clean, credible financial information...

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Estate Planning After the One Big Beautiful Bill: What You Need to Know

The One Big Beautiful Bill (OBBB) Act, enacted on July 4, 2025, brought significant and welcome changes to federal estate and gift tax rules. For many families, business owners and investors, these changes provide greater certainty, but they also shift...

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What Your Business Is Really Worth — and Why It Matters Long Before You Sell

Many business owners assume they’ll figure out what their business is worth when they’re ready to sell or retire. In reality, waiting until the last minute often leads to surprises — and missed opportunities. Understanding your business’s value isn’t...

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2026 Nonprofit Outlook: Key Challenges, Trends & Strategies for the Year Ahead

After navigating another year of disruption in 2025, nonprofit organizations are entering 2026 in an environment marked by continued uncertainty — but also real opportunity.Economic volatility, increased competition for funding, workforce challenges and...

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Exit Planning Timeline: 10 Years to Exit

Most business owners don’t wake up one day ready to exit — and the most successful exits are rarely accidental. They’re the result of years of thoughtful planning. This timeline provides a high-level roadmap of what business owners should be thinking...

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Form 1099 Processing & Business Central: Are You Ready for Year-End Close?

If you use Microsoft Dynamics 365 Business Central, you’ll notice some important changes this year in how the system handles Form 1099s. With the latest release (V27.0), Microsoft updated the way 1099 information is tracked, stored and submitted — and...

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How the New Tax Law Affects the Percentage of Completion Method for Contracts

The passage of the One Big Beautiful Bill (OBBB) on July 4, 2025, introduces significant reforms to business tax law in the United States. Among its pivotal changes are adjustments to the long-established requirement for using the percentage of...

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Tax Implications For U.S. Athletes Playing Professionally Abroad

For U.S. citizens and resident athletes, playing professionally with an overseas team can open the door to incredible career opportunities. But while the move may happen on the field or court, the tax implications follow you everywhere. No matter where...

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How to Make a Tax Payment Using IRS Direct Pay

As of September 30, 2025, the IRS stopped issuing paper checks for federal tax payments, including refunds. In tandem with this shift, the IRS also announced that it plans to phase out receiving paper checks for tax payments “as soon as practicable.”...

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Tax Guidance For Foreign Student-Athletes In U.S. College Sports

Foreign collegiate-athletes playing in the U.S. face special tax considerations. Typically on F‑1 or J‑1 visas, these athletes are treated as nonresident aliens for U.S. tax purposes and face both immigration and tax issues when earning NIL (Name, Image...

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Stay Safe When Using AI-Powered Browsers: Beware Of Prompt Injection

All modern web browsers have some form of AI built in to help you with your day-to-day tasks. AI-powered browsers like Microsoft Edge (Copilot), Google Chrome (Gemini) and Perplexity (Comet) are transforming how we interact online. These tools can make...

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The SALT Deduction Just Got a Temporary Boost — Here’s What It Means for You

If you live in a state with high income or property taxes, you have probably felt the sting of the federal cap on state and local tax (SALT) deductions. For years, that limit has been locked at $10,000, a figure that has hit taxpayers in states like New...

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From NIL to Nest Egg: Smart Retirement Moves for Student-Athletes

Collegiate athletes with NIL (Name, Image and Likeness) and revenue-sharing income have unique tax-favored retirement planning opportunities. The strategies differ slightly depending on whether the athlete operates under a Schedule C (sole...

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The Limits of Relying on Prior Sale Transactions in Business Valuation

When valuing a closely-held business, one of the first things people look for is evidence of what it sold for in the past. But that information isn’t always reliable — and sometimes, it can lead to misleading conclusions.

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New Phishing-as-a-Service Threat Targets Microsoft 365 Users

Cybercriminals never stop evolving — and neither should your defenses. The latest example of this evolution is a new “Phishing-as-a-Service” (Ph-a-a-S) platform making the rounds, specifically targeting Microsoft 365 (M365) users worldwide.

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Why a Skilled Construction Estimator Is the Key to Every Successful Project

Haz clic aquí para leer este artículo en español. Believe it or not, the role of a construction estimator is vital to the success of a company. Construction estimating is the process of calculating all the costs that will be incurred during a project to...

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NIL Perks Aren’t Free: How Non-Cash Compensation Triggers Taxes for Collegiate Athletes

Collegiate athletes are navigating a rapidly evolving environment marked by non-cash compensation opportunities, including goods, services and unique fringe benefits tied to Name, Image and Likeness (NIL) activity. As these athletes engage in brand deals...

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One Big Beautiful Bill: Tax Benefits & Planning Opportunities for Taxpayers

If you’re still trying to wrap your head around the One Big Beautiful Bill (OBBB), you’re not alone. Between headlines, political chatter and technical jargon, it’s tough to know what actually made it into the final law — and what those changes mean for...

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Don’t Get Benched By The IRS: The Case For Meticulous NIL Expense Tracking

Tracking expenses is critical for collegiate athletes receiving revenue sharing and NIL (Name, Image and Likeness) compensation, especially when operating as independent businesses via a Schedule C on their personal income tax return or as an S...

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The Rising Cost of Care In Maryland’s Skilled Nursing Facilities

After several years of unpredictable cost swings and pandemic-driven volatility, Maryland’s skilled nursing facilities are entering a period of relative stability — but not without continued financial pressure. In this article, we’ll take a detailed look...

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The Top 4 Risks to Remaining On Your On-Premises ERP

Technology continues to trend towards cloud-based ERP systems, but many businesses still desire the benefits offered by on-premises solutions. These may include one-time pricing under a licensing fee, greater control through on-site data and direct...

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Top Features In Business Central’s Fall 2025 Release

Microsoft’s fall 2025 update for Dynamics 365 Business Central continues to advance automation, AI-driven insights and usability improvements across finance, operations and reporting. Most clients will see their environments updated in November 2025.

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What’s New In NetSuite’s 2025.2 Fall Release

NetSuite’s latest release, 2025.2, brings a wave of intelligent enhancements designed to help businesses work smarter, automate more and gain deeper visibility into performance. From revenue management and payroll to AI-powered forecasting and CRM...

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Why Vendor Validation Is Now a Critical Accounts Payable Strategy

Accounts payable (AP) is no longer just about invoices. With shifting global trade dynamics and increased regulatory scrutiny, AP teams face growing responsibilities and an opportunity to positively impact organizational well-being.

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Why Growing Businesses Are Turning to Dynamics 365 Business Central

As small to mid-sized businesses (SMBs) continue to evolve in a fast-paced digital landscape, many leaders are reassessing whether their current systems can keep up with their needs. Disconnected software, paper-based processes and manual workarounds...

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8 Ways to Drive Business Resilience and Growth With AI-Powered Analytics

AI-powered analytics create clear views of business activity that you can use to build resiliency and plan for growth. Data-driven insights enhance customer experience, speed up sales, streamline operations and anticipate cash flow risks.

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Empower Your Business With AI-Driven Cloud Solutions

AI has become a fundamental tool in how people get their work done and how businesses find new ways to stay ahead of the competition. While 71% of small to mid-sized business (SMB) leaders believe that AI adoption is critical for their company to remain...

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Don’t Get Tricked by Cyber Threats This Cyber Security Awareness Month

October may bring pumpkins, costumes and candy, but for businesses, it also marks Cyber Security Awareness Month — a time to shine a spotlight on the ever-evolving threats that keep IT teams and executives up at night. While trick-or-treaters roam the...

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AI’s Role In Fraud and Fraud Investigation

Artificial intelligence (AI) has become one of the most disruptive forces of our time. From how we work to how we protect sensitive information, AI’s influence is being felt across nearly every industry. Fraud investigation is no exception. While AI...

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Strategic Accounts Payable: Removing Barriers to Organizational Health

For a long time, accounts payable (AP) has been viewed as a low-priority, background function, quietly doing the work unnoticed (until something goes wrong). Fortunately, many organizations are realizing that AP is about much more than paying the bills....

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Guidance On No Tax On Overtime & Tips

The One Big Beautiful Bill (OBBB) Act includes several payroll changes impacting employees, independent contractors and employers. Most notably, it includes new federal income tax deductions for qualified overtime and tip pay, commonly referred to as “no...

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Federal Reserve Cuts Interest Rates Amid Economic Uncertainty

In a highly anticipated move, the Federal Reserve lowered its benchmark interest rate by 0.25 percentage points, marking the first rate cut since December 2024. This decision, announced on September 17, 2025, comes as the U.S. economy faces a dual...

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AI and Automation In IT: What to Expect and How to Prepare

Artificial intelligence (AI) and automation are revolutionizing industries and transforming how businesses operate and compete in the digital age. These technologies offer immense potential to improve efficiency, enhance decision-making and drive...

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3 Financial Consolidation Problems and How to Fix Them

Your business is growing, which means you may be expanding into new markets, adding subsidiaries, dealing with multiple currencies, adding product lines or opening new facilities. With that growth comes complexity, especially when it comes to financial...

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Understanding Compliance: How Managed Services Can Keep You Safe

Compliance is more than just a regulatory requirement; it’s a critical component of operational integrity and trust. With the growing complexity of regulatory environments, businesses must navigate a maze of compliance requirements to avoid legal...

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Why Business Owners Need to Consider a Cyber Security-First MSP

Small to mid-sized businesses (SMBs) have become the prime targets for cybercriminals — and the numbers prove it. It’s not just enterprise organizations facing ransomware attacks, phishing campaigns and data breaches. SMBs are in the crosshairs, often...

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AI In Accounting: Can AI Close the Books?

Artificial intelligence (AI) is making waves in almost every industry, and accounting is no exception. The promise of automating tedious tasks, improving efficiency and gaining deeper insights from financial data is an exciting prospect for many...

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The Evolving Role of the MSP: From IT Support to Strategic Partner

The days of managed service providers (MSPs) simply being “IT fixers” are over. In today’s digital-first business environment, clients don’t just want help desk support, they want a strategic partner who can guide technology decisions, align IT with...

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How AI Is Changing the Game for Managed IT Services

Artificial intelligence (AI) is transforming how businesses operate in real-time. For small and mid-sized businesses (SMBs), this shift is especially powerful when paired with a trusted managed service provider (MSP). As an MSP, we’re leveraging AI in...

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Hidden Cryptocurrency In Divorce: Guide for Family Law Attorneys

The increased use of cryptocurrency has complicated divorce proceedings. In some instances, spouses are turning to cryptocurrency as a vehicle for hiding assets. This article explains what cryptocurrency is, how it’s acquired and signs to look for that...

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Compliance Management With NetSuite

As data and information grow increasingly valuable, businesses face a complex landscape of privacy and security regulations. Compliance with privacy laws is not merely a legal obligation but a strategic imperative for any successful business.

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What the Delayed 2025 Compliance Supplement Means for Your Nonprofit's Single Audit

On November 25, 2025, the Office of Management and Budget (OMB) officially released the final 2025 Compliance Supplement. Auditors can now use the final version to complete their June 30, 2025 audits for submission to the Federal Audit Clearinghouse. ...

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The One Big Beautiful Bill and Its Impact on Real Estate Tax Investors

The One Big Beautiful Bill (OBBB) Act, signed into law on July 4, 2025, extended many provisions of the Tax Cuts and Jobs Act of 2017 and made several additional changes to the Internal Revenue Code. The bill includes several provisions that impact real...

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Navigating the One Big Beautiful Bill: What Nonprofits Need to Know

The recently enacted One Big Beautiful Bill (OBBB) Act brings sweeping changes to the U.S. tax code, with both direct and indirect consequences for the nonprofit sector. While much of the media coverage has focused on higher education — particularly the...

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The Future of Remote Work and How Managed Service Providers Can Help

The workplace has changed forever, and remote and hybrid work models are here to stay. For many businesses, this change has unlocked flexibility, cost savings and access to broader talent pools. But it also comes with new challenges, especially when it...

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5 Steps Small to Mid-Sized Businesses Can Take to Begin NIST 800-171 Compliance

Adopting the NIST 800-171 framework may seem daunting to small and mid-sized businesses (SMBs), but it doesn’t have to be. Whether you’re preparing for future compliance requirements or proactively strengthening your cyber security posture, breaking it...

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Using AI for Construction Contract Review

In construction, an overlooked contract clause can lead to million-dollar mistakes. You know that time spent on dense documents is time away from running your business, yet you can’t afford to blindly accept all the terms of a contract. The good news is...

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Data-Driven Tariff Management

Tariff-driven input cost variability is making it challenging for businesses to make decisions on supply chain management, pricing, investments and market opportunities. As a result, many business leaders are making a range of short-term tactical choices...

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The Impact of the One Big Beautiful Bill on Federally Qualified Health Centers

Federally Qualified Health Centers (FQHCs) stand at the heart of accessible, community-based healthcare in the United States. They are often the unsung heroes, quietly bridging gaps in care for millions of underserved and vulnerable populations. While...

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Why Every Small to Mid-Sized Business Should Adopt NIST 800-171 Standards — Even If They're Not Required to

Cyber security threats are evolving rapidly, and small to mid-sized businesses (SMBs) are no longer flying under the radar. As cyberattacks become more sophisticated and regulatory pressure increases, aligning with NIST 800-171 standards is no longer...

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New Tax Bill Promises Major Shifts for Maryland Nursing Homes

The healthcare landscape in the U.S. stands on the precipice of significant change, and few sectors are watching more closely than long-term care facilities. Maryland’s nursing homes, in particular, are bracing for the sweeping adjustments that may come...

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Surety 101: Basics for Contractors

If you’ve worked on public projects — or plan to —“surety bond” is probably a familiar term. Whether you are bidding on a government contract or taking on a large private job, surety bonds are often required before you can even get started with a...

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What the One Big Beautiful Bill Means for U.S. Manufacturers and Distributors

The new tax package — casually referred to as the “One Big Beautiful Bill” — includes powerful new and reinstated tax incentives aimed at bolstering domestic manufacturing and distribution. This legislation reverses several unfavorable changes in recent...

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New Tax Law Brings Big Wins for Business Owners

The newly signed tax legislation — also known as the One Big Beautiful Bill Act — brings about significant changes for businesses. From enhanced bonus depreciation and expanded Section 179 expensing, to updates on research and development costs, business...

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How to Qualify for Real Estate Professional Status and Maximize Tax Savings

If you’re a real estate investor or considering investing in real estate, you have likely heard about the coveted real estate professional status for tax purposes. But what does that mean, and how can it benefit you?

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Big Changes Ahead: What the New Tax Bill Means for Your Personal Tax Situation

A major new tax bill is making waves, and if you are an individual taxpayer, there is a lot to unpack. There’s some good news, some adjustments and a few new wrinkles. Here is a digestible look at how it might affect your personal financial picture...

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Aluminum Tariffs — The Pros & Cons for Maryland Breweries

Maryland’s craft breweries are facing a new pressure that's causing quite a bit of uncertainty — tariffs. The Trump administration's recent decision to double tariffs on aluminum imports to 50% has sent ripples through the craft beer industry.There are...

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One Big Beautiful Bill Explained: Changes for Businesses and Individuals

On July 4, 2025, the One Big Beautiful Bill (OBBB) was signed into law, bringing significant changes to the tax landscape for both businesses and individuals. Whether you’re a business owner, investor or simply preparing for the upcoming tax year, here’s...

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Navigating Maryland’s New Tax Law Changes: Your Questions, Answered

As a taxpayer, it’s essential that you understand the new tax law changes in Maryland’s Budget Reconciliation and Financing Act (BRFA) of 2025, effective July 1, 2025, and how you’re impacted.

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Guidance on Maryland’s Multiple Points of Use Certificate for New “Tech Tax”

Long-awaited guidance on Maryland’s Multiple Points of Use (MPU) certificate is here. This is paramount for businesses that purchase or use digital, data, IT and cloud services both in Maryland and other states. The MPU certificate will help businesses...

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Important Update for Maryland Landlords: New Lease Requirement Takes Effect July 1, 2025

If you are a landlord or developer who leases residential property in Maryland, there’s an important new requirement you need to be aware of.

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Tariffs 101 for Manufacturing Business Owners

In today’s global economy, suppliers stretch across the world. Business owners rely on the easy movement of goods and materials. However, international trade policies — specifically tariffs — can disrupt these flows. As political tensions rise and new...

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New Tax Laws Have Significant Implications for Maryland Taxpayers

The Maryland General Assembly recently passed the Budget Reconciliation and Financing Act of 2025. This new bill has significant tax implications for Maryland business owners and individuals. Let’s review the legislation’s provisions that will have the...

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How to Champion AI as an Executive

Companies operate like intricate gear systems where each department, process and stakeholder play a role in keeping the machine running. However, the complexity of these interconnected parts makes change difficult. Even when inefficiencies are evident,...

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How Normalizing Adjustments Impact the Value of a Business

A business may be valued for a multitude of reasons, like marital dissolution, estate planning and mergers and acquisitions, among others. No matter a valuation’s purpose, one of the most critical steps during analysis is considering various...

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Adapting to Changing Accounting Standards

As the primary accounting standards setter for the private sector, the Financial Accounting Standards Board (FASB) is constantly evolving its codification to improve financial accounting and reporting in U.S. companies. While most updates to the FASB...

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How to Navigate 8 Critical Business Risks

As a business leader, chances are you keep rewriting your mental worry list — ranging from inflation and interest rates to tariffs, supply chain disruption and new regulations. Your business must be built to weather risks — no matter how those risks...

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How to Use AI and Minimize Your Organization’s Risk

Artificial intelligence (AI) is at the forefront when it comes to organizations radically increasing efficiency through technology. However, there are hesitations around the use of AI because of the potential consequences to cyber security — and...

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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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How Manufacturers Can Claim the R&D Tax Credit [Video]

Many manufacturers don’t realize they could be leaving money on the table. If your business invests in innovation — whether that’s developing new products, improving processes or enhancing existing technologies — you could qualify for the research and...

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7 Common IT Issues Small Businesses Forget to Budget For

In today's digital age, small businesses rely heavily on information technology (IT) to streamline operations, enhance productivity and stay competitive. However, managing IT systems can be challenging, especially for organizations with limited resources...

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Federal Government Says Goodbye to Paper-Based Payments

The federal government is officially waving goodbye to paper checks. On March 25, President Trump issued an executive order aimed at modernizing how the U.S. government sends and receives payments. Here’s a breakdown of what you need to know.

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FinCEN Scraps Beneficial Ownership Information Filing Requirement for Domestic Companies

The Financial Crimes Enforcement Network announced that entities created in the U.S. and their beneficial owners are now exempt from the requirement to report Beneficial Ownership Information (BOI) to FinCEN, alleviating a regulatory burden many business...

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Double Dipping In Divorce: Considerations for Family Law Attorneys

As a family law attorney, you’ve likely encountered the contentious concept of “double dipping” during divorce proceedings. Double dipping occurs when the same income stream is counted twice — first as an asset to be divided during equitable...

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Do You Need an Audit, Review or Compilation?

When it comes to financial reporting, nonprofits and for-profit businesses often face a range of requirements and expectations depending on their size, activities and the specific regulations they are subject to. When running a nonprofit or business,...

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Understanding Scareware: What It Is and How to Avoid Falling Victim

Scareware is a deceptive tactic designed to manipulate and frighten you into believing your system is infected with a virus or malware. If you’re distracted, tired or overworked, like most people, you could be tricked into contacting the supposed...

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A Certified Fraud Examiner's Take On DOGE

They say there are three topics to avoid in a business setting: religion, personal issues and politics. I am going to preface this article with a large disclaimer. The intent of this article is not to discuss the validity of the Department of Government...

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How Changing Government Policies Impact Business Valuations: What Attorneys Need to Know

With a new presidential administration in place, we’re already seeing significant shifts in policy. Whether related to tax law, economic trends or industry regulations, these changes will likely impact business valuations — including those of...

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The Pros & Cons of Using Cryptocurrency In Your Manufacturing Business

As cryptocurrency adoption continues to grow, many manufacturing business owners and CFOs are considering whether digital currencies have a place in their operations. From potential cost savings and faster transactions to regulatory uncertainty and...

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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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The End Is Near for Windows 10: Steps You Should Take to Protect Your Business

As you may have heard, after October 14, 2025, Windows 10 will no longer be supported. If your computers are still running on Windows 10, you will need to take action soon. Here’s why updating to Windows 11 is crucial to your organization’s security, and...

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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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Best Practices for Managing User Access In NetSuite

NetSuite empowers businesses to establish the right controls to meet risk objectives, then monitor and report on the effectiveness of those controls. In this article, we’ll go over best practices around role management, audit trails, and establishing...

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4 Steps to Strategically Reduce Expenses Using AI Analytics

Cost optimization has become a focal point for many companies in the past few years as they look to stay competitive and resilient while dealing with tightening customer budgets and more stringent access to capital. This strategic practice focuses on...

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The Ultimate Prep Guide for Planning and Budgeting Season

Budgeting season is one of the most important times of the year for any organization. Colleagues come together to review the previous year’s financial performance, set goals for the upcoming year and allocate resources to achieve those goals.

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6 Steps to Build an AI-Ready Finance Team

By now, CFOs have heard that artificial intelligence (AI) promises to shake up the work finance professionals do every day by automating many tasks and providing new insights. Embracing AI will require finance teams to choose from myriad offerings to...

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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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Don’t Become a Cyber Security Horror Story This October

It’s October again, which means it’s Cyber Security Awareness Month — and the cyber security landscape couldn’t be scarier for your small business. Cyber insurance is less protective and more expensive than it used to be, your biggest threat to security...

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Your Government Contracting Business Has Outgrown QuickBooks. Now What?

As a government contracting business, you rely on your accounting system to be reliable, accurate and encompass all your accounting needs. For most government contracting businesses first starting out, QuickBooks is a simple and affordable accounting...

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Reduce IT Costs Without Compromising Quality

In today’s competitive business environment, managing IT expenses while maintaining high standards of service and support is a critical challenge. However, it’s possible to reduce IT costs without compromising quality by adopting strategic approaches and...

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Ransomcloud: The Next Frontier In Cyber Security Threats

In the rapidly evolving landscape of cyber security, a new kind of threat has emerged that targets cloud services and poses a significant risk to businesses of all sizes: ransomcloud. This sophisticated form of ransomware aims to encrypt data stored in...

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Optimizing Your IT Infrastructure for Scalability: Tips for Efficient Growth With Managed Services

In today’s rapidly evolving business landscape, scalability is a crucial aspect of any successful IT strategy. As businesses grow, their IT infrastructure must be able to expand seamlessly to support increased demand, new technologies and evolving...

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Sunsetting Tax Provisions and Potential Impacts In Divorce Cases

The Tax Cut and Jobs Act (TCJA) of 2017 impacted all U.S. taxpayers due to drastic changes in the tax code. Some of these changes were permanent, while others expire (or “sunset”) after December 31, 2025. This means that unless Congress acts, several...

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What You Should Know About Forensic Accountants — And When You Need One

Since I’m just starting my career, I am often presented with the question, “What are you doing for work now?” When I explain that I am a forensic accountant, most respond with a comment related to their love for crime scene shows and forensic sciences. ...

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Demystifying End-User Cyber Security

The end user is still the weakest link regarding cyber security, which is why most companies have implemented a user training program. In fact, most compliance frameworks and cyber security insurance providers require a regular training program to be in...

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Key Considerations for Business Owners When Navigating Multi-State Tax Obligations

The dream of many business owners is to have multiple locations across the country. But, as businesses expand across state lines, managing various state taxes becomes increasingly complex. To ensure compliance while optimizing tax positions, multi-state...

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Key Highlights of the Uniform Guidance Update for Nonprofits Receiving Federal Funds

Nonprofits that receive federal funds need to comply with the stringent requirements associated with government funding.

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New R&D Tax Credit Reporting Requirements On the Horizon

Businesses that capitalize on the popular Research and Development Tax Credit need to be aware of changes in reporting requirements for the 2024 tax year.

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Hiring a Financial Expert: Why Attorneys Should Do It Sooner Rather Than Later

A financial expert can provide valuable assistance to attorneys throughout the discovery phase of a litigation case. Cases involving economic damages often depend on documents to establish or disprove the amount of the plaintiff’s damages. A financial...

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Nonprofits Beware: Protect Tax-Exempt Status During Election Year

Many nonprofit organizations have a vested interest in political issues and their outcomes. But it’s important that nonprofit organizations, board members and leaders clearly understand how their campaign-related activities could attract unwelcome IRS...

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Accounting Software for Family Offices

Family offices are a convenient and effective way for high net worth families to manage their assets. But owning and operating a family office is no small feat. There are a variety of challenges that family offices have to tackle, like generational...

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Virginia Issues Guidelines to Retroactively File 2021 Pass-Through Entity Tax Returns

Virginia’s Department of Taxation has issued long-awaited guidance on pass-through entity tax returns. Here’s what the guidance means for owners of pass-through entities.

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Business Central 2024 Release Wave 1: New Features and Enhancements

Microsoft Dynamics 365 Business Central continues to evolve, bringing new features and improvements that enhance productivity, efficiency and usability. The 2024 Wave 1 release is no exception, packed with updates that promise to refine user experience,...

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Do Your Due Diligence Before Buying a Business

Frankly, it was a disaster that could have been avoided. “Stan” the buyer was hell bent on making the purchase, the bank was pushing for the seller’s financials, and on the surface the deal and the business looked solid. So instead of a comprehensive...

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How an Employee Stole $26,506 Using a POS Register System

This is the story of a chief financial officer whose diligent review of his sporting goods retailer’s monthly operations resulted in the discovery of employee theft.

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Streamline Your Year-End Close With Improved Technology

Do you find your accounting team continuously dreading year-end close processes? If so, it’s time to make some changes.

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Why Expert Witness Certifications Matter In Litigation

Certifications help signal that someone is knowledgeable and competent in a given subject matter or area. For expert witnesses, a certification can be valuable for emphasizing their competency and eligibility to serve as an expert witness in court. On...

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4 Ways Divorce Attorneys Can Spot Sudden Income Deficit Syndrome

For a couple going through a divorce, there are many things to plan for. If there are children involved, custody issues can become extremely contentious. Spouses have been known to use their children as bargaining chips to try to “win” during the...

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What Do Sureties Look At When They Review A Contractor’s Financial Statements?

The construction industry is diverse, with construction businesses specializing in HVAC, plumbing, electrical, excavation, fire protection, general contracting and other trades. One thing most contractors have in common, though, is who uses their...

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Dissipation of Marital Assets In Divorce: Red Flags to Look For

Divorce is one of the most stressful events that people may encounter in their lifetime, even more so if there is significant hostility between the spouses. As a result of the adversarial nature of divorce, the parties might behave irrationally or even...

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How to Strike Out Fraud In Your Organization

Shohei Ohtani is a household name in Major League Baseball. One of the league’s most formidable players, Ohtani is known as a two-way player who can pitch and hit. Unfortunately for Ohtani and the Los Angeles Dodgers, he’s also known as the victim of a...

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Businesses Employing Veterans Could be Eligible for Federal Award

If your business employs veterans, you might be eligible for a HIRE Vets Medallion Award. Businesses that earn this award are recognized for their leadership in recruiting, employing and retaining veterans.

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Tax Implications of Stock Options In Divorce

More and more, divorce attorneys are finding that stock options are becoming increasingly popular forms of equity incentive compensation. And when considering stock options in family law litigation, the main concern is typically the distribution of cash...

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Tips for Preventing Disbursement Fraud In Your Business

As a Certified Fraud Examiner, I have investigated dozens of employee embezzlements that occurred at small businesses. Many of those embezzlements were committed by bookkeepers through disbursement fraud schemes.

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What’s New In NetSuite 2024 Release 1

Every year, NetSuite releases two major updates — and the first one for 2024 has arrived! NetSuite 2024 Release 1 includes AI capabilities to innovate your current NetSuite processes and key updates across financials, supply chain management, ecommerce...

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Calculating Loss of Business Income for Insurance Claims

When an insured party with proper commercial coverage has an interruption due to a covered loss, they may be entitled to recover the loss of their business income. But how is the loss of business income calculated for insurance claims?

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How to Spot and Prevent Employee Fraud In the Construction Industry

The typical organization loses 5% of its revenues to fraud each year according to the Association of Certified Fraud Examiners (ACFE). When you do the math, the hit to your bottom line can be substantial.

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Calculating an Individual’s Lost Earnings and Benefits

Economic damages claimed by individuals in cases arising from personal injury, wrongful death, wrongful employment termination and employment discrimination typically include lost earnings and fringe benefits. Attorneys frequently retain CPAs as expert...

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Why Departmental Budgeting Is Underrated and Underutilized

Though it’s a vital component of managing an organization’s finances, departmental budgeting often doesn’t get the attention it should. Leaders tend to focus more on big-picture financial plans and decisions, leaving departmental budgeting as an...

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What Nonprofits Need to Know About Functional Expenses

The issuance and implementation of the FASB nonprofit financial presentation standard, Accounting Standards Update (ASU) 2016-14, back in 2016 resulted in changes to the presentation of GAAP-based financial statements for nonprofits. These changes were...

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New Grant Program for Maryland Manufacturers Now Open for Applications

Applications are now open for Maryland manufacturers to apply for the Commercial, Industrial & Agricultural Fiscal Year 2024 Grant Program. This program supports businesses that make certain energy efficiency improvements in manufacturing facilities.In...

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How Does the New CECL Model Affect Your Financial Statements?

Non-public entities will need to adopt the new Current Expected Credit Loss (CECL) model starting with 2023 calendar year-end financial statements. What does this mean for your company and your financial statements?

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What Your Nonprofit’s Financial Statements Reveal [Video]

The numbers on your nonprofit’s financial statements tell a colorful story ― if you know what to look for. Nonprofit CEOs, executive directors and board members who have a solid understanding of financial statements typically make better decisions for...

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Optimism Abounds for Maryland’s Manufacturing Industry

There’s a lot to feel optimistic about when it comes to Maryland’s manufacturing industry. I recently sat in on a webinar presented by two of the state’s biggest manufacturing champions, the Maryland Manufacturing Extension Partnership (MD MEP) and...

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Common Shortfalls of Accounting Systems In Manufacturing Businesses [Video]

Having proper accounting practices and technology in place is essential for success in your manufacturing business. Without the right accounting system in place, manufacturers face a plethora of challenges and gnarly consequences that can be avoided. ...

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4 Common Misperceptions About Lost Profits Claims

Claims for lost profits arise in many types of cases, including contract disputes, business torts, insurance claims, personal injury and antitrust claims.

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IRS Delays $600 Form 1099-K Reporting Requirement Threshold

Tax season can be a confusing and stressful time for many, with various forms and reporting requirements to keep track of. One form, the 1099-K, is the subject of a delay by the IRS. The IRS recently announced the delay of a 2021 law that would require...

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Tax Strategies to Consider Before Moving Abroad

Moving abroad is an exciting venture, but it comes with important financial considerations, especially when it comes to taxes. Careful tax planning can help you navigate the complexities and optimize your financial situation before making an...

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Budgeting Best Practices for Nonprofits

Creating and managing your nonprofit’s budget probably isn’t a favorite annual task. Though budgeting may feel tedious or even overwhelming, having a clearly established budget plays a key role in your nonprofit’s ability to successfully execute its...

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Maryland Extends Deadline for MarylandSaves Exemption to December 31, 2025

Maryland businesses that are eligible for the MarylandSaves exemption must apply for it every year. The deadline to file for the annual exemption is December 31, 2025. Here's what business owners need to know.

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NetSuite Shortcuts That Will Save You Time

We’re all looking for ways to get work done faster. With a few quick clicks, you can navigate NetSuite dashboards, reports and searches faster and more efficiently.

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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...

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Fraud Prevention Tactics Could Have Prevented Massive NFL Team Theft

As first reported by The Athletic, a former employee in the finance department of the Jacksonville Jaguars is facing federal charges for allegedly stealing more than $22 million from the team over a four-year period. The employee, Amit Patel, was a...

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New Rules Allow Rollover of Funds From 529 Plan to Roth IRA

There’s good news for families who diligently save for their child’s education with a 529 plan. Thanks to legislation passed in 2022, this popular savings vehicle just got more flexible. Starting in 2024, unused funds from a 529 plan can be rolled over...

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How to Write a Nonprofit Audit RFP [Plus an Audit RFP Template for Nonprofits]

Hot dog, it's time to issue an RFP for audit services, said no nonprofit ever. If you’re like most nonprofit audit committee members and executive directors, you cringe just a little when it comes time to solicit proposals for a new audit firm. As an...

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Exploring Key Features In Business Central 2023 Release Wave 2

As the digital landscape continues to evolve, so does the need for agile and innovative business management solutions. Microsoft Dynamics 365 Business Central stands tall in meeting these demands, and its latest iteration, the 2023 Release Wave 2, brings...

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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...

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Taxpayers Can Expect Changes as Key Tax Provisions Sunset

As we near the end of 2023, individuals may be surprised to learn of substantial tax provision changes sitting on the horizon. The tax provisions enacted in 2017 as part of the Tax Cuts and Jobs Act (TCJA) are sunsetting with the end of the 2025 tax year.

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Government Contractors Procuring Products From Certain Parts of China Subject to New Rule

Any government contractor that procures products from the Xinjiang Uyghur Autonomous Region of the People's Republic of China is affected by a new ruling by the Department of Defense (DoD). This ruling takes effect October 30, 2023.

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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,...

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Sage 300 Add-Ons Spotlight

One of the strengths of Sage 300 is the massive ecosystem of integrated add-ons that can extend the capabilities of your software. When “out of the box” features don’t provide everything you need, Sage Add-ons Marketplace might be the answer.

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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...

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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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How Officer Compensation Impacts Business Value

To properly value a business, adjustments may need to be made to the business’s revenue and expenses to normalize its income statement and accurately reflect the true economic performance of the business. One of the adjustments that commonly may be made...

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Tax Credits for New Electric Vehicles Purchased In 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.

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Unveiling the Power of Business Central’s Analyze Feature

In the digital age, businesses thrive on data-driven decision-making. Fortunately, Microsoft Dynamics 365 Business Central includes the "Analyze" feature that allows businesses to quickly examine their data and make well-informed decisions to drive...

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How Bad Data From Clients Can Impact Valuations

It’s a common saying among data scientists: “garbage in, garbage out.” In other words, bad inputs lead to bad conclusions. It’s no different in business valuation, where an analyst synthesizes many data inputs to arrive at a single estimate of value. Bad...

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Account Reconciliation In the Cloud: Moving Beyond Spreadsheets

Account reconciliation is a critical first step in the financial close process. It establishes the foundation for month-, quarter- and year-end success. Accountants perform reconciliations at the end of accounting periods to ensure the general ledger...

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Maryland Manufacturers Can Apply for Grants Up to $500,000

Eligible Maryland manufacturing businesses could receive up to $500,000 in state funding as part of the Maryland Manufacturing 4.0 Grant Program. The program’s goal is to support manufacturing businesses that invest in cutting-edge technologies to remain...

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Quick Guide: Accredited In Business Valuation (ABV) Credential

As a CPA, ABV and CVA, my credentials are a source of pride for me. Most people recognize the Certified Public Accountant (CPA) credential. However, very few people recognize other credentials in the accounting and forensic accounting field.

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Navigating Tax Issues Related to Short-Term Rentals

Short-term rentals are all the rage in real estate investing. With droves of vacationers and business travelers using Airbnb and VRBO to seek out homey, comfortable spaces that hotels don’t offer, short-term rentals can be an outstanding real estate...

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New Navigation Keyboard Shortcuts In Sage 300 Web Screens

A recent update for Sage 300 introduced a new set of keyboard shortcuts that allow you to open screens from the navigation menu without having to bounce back and forth to the mouse. Here’s a look at these new commands available in Sage 300 web screens.

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Home Energy Tax Credits: Do You Qualify?

If you updated your home in 2022 or 2023 to be more energy efficient, you might be eligible for one or more tax credits. Tax credits are an excellent way to reduce your tax liability.

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FASB Issues Guidance On How to Account for Related Party Leases

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

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Beware of Employee Retention Credit Scams

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...

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New Cyber Security Regulations Issued By Veterans Affairs

Government contractors who do business with the Veterans Affairs Administration (VA) will soon have a great deal of increased cyber security and data privacy responsibilities after the VA recently updated cyber security compliance regulations. These new...

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QuickBooks Desktop 2020 to be Discontinued

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...

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Guide for Divorce Attorneys: What a Client's Form 1040 Can Reveal About Income & Assets

Determining a couple’s income is one of the most critical financial issues in a divorce case. Reviewing the couple’s Form 1040, to start, can help paint a picture of their financial position and lifestyle. Divorce attorneys who know where to look for key...

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How to Handle Increase In Business Value Post-Separation: Perspective for Divorce Attorneys

Divorce cases where one party owns a closely-held business can create complications in the valuation and division of the marital estate. One of the many questions commonly encountered in Virginia divorce cases involving a closely-held business is, How is...

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Investment and Employment Tax Credits for Mid-Atlantic Manufacturers

The manufacturing industry has been the backbone of the U.S. economy since the Industrial Revolution. The success of this industry has helped position the U.S. as the world's largest economy. An economy with a strong manufacturing presence helps ensure...

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Bridge to the Cloud 2 Promotion: Moving From Dynamics On-Premises to Dynamics 365 Online

On January 1, 2023, Microsoft launched the Bridge to the Cloud 2 promotion to support Dynamics Price List (DPL) customers moving from Dynamics on-premises to Dynamics 365 online.

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A Texas-Sized Fraud: Bookkeeper Embezzles $29M From Texas Family

Barbara Chalmers, 74, pleaded guilty in December 2022 to an embezzlement scheme of at least $29 million over the past decade. Ms. Chalmers was the bookkeeper for a charitable foundation and multiple companies run by the family of Jim Collins, a prominent...

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2 Reasons Why Your Youth-Focused Nonprofit Should Establish an Endowment

Between the merry-go-round of government changes, staffing shortages and a fluctuating financial market, many youth-focused nonprofits lack one of the most vital tools in securing their future–an endowment.

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4 Unlikely Ways Youth-Focused Nonprofits Can Boost Fundraising

If your organization is like many other youth-focused nonprofits, the generosity of donors is a huge source of funding for some, if not all, of your income. As a result, fundraising is always a top priority. Since child-focused nonprofits often compete...

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What Accounting Staff Need to Know About the New Lease Standard

The new lease accounting standard, Accounting Standards Codification (ASC) 842, is out in full force and there are numerous rules, adjustments and transitions accounting departments need to be made aware of—stat.

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Child-Focused Nonprofits Can Boost Fundraising by Suggesting Tax Planning Strategies to Donors

A recent charitable giving report from Blackbaud Institute confirms that donations in the United States grew by 9% in 2021. This increase occurred for nonprofits of all sizes in all sectors, with 12% of charitable giving coming from online donations. ...

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5 Tips Contractors Should Know for Work in Process

A work in process (WIP) schedule is one of the most important financial tools for a contractor—and it may be underutilized. Not only does a WIP schedule give a construction company and project stakeholders insight into a project’s financial performance,...

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15 Questions Accounting Staff Members Are Asking About the New Lease Standard

If there’s one thing for certain, accounting staff members at businesses and nonprofits have more than a few questions about the new lease standard that’s about to take effect. Implementing the biggest new accounting rule to come our way in decades is no...

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The Tax Impact of Remote Employees On Your Business

One of the unexpected consequences of the COVID-19 pandemic is the proliferation of remote employees. If your business has remote employees, there are tax consequences and rules you should be aware of.

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Nonprofit Alert: 2022 Single Audit Filings & New Data Collection Form

For nonprofits subject to a Single Audit, there’s a delay in the new requirement to use SAM.gov to submit Single Audit filings.

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Ease Supply Chain Distribution Woes With EDI

In any economy, there are only two ways to increase the bottom line: increase revenue and/or decrease costs. Electronic Data Interchange (EDI) is a tool that can help with both. By eliminating operational bottlenecks, EDI helps lower costs while allowing...

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Inflation Reduction Act of 2022: Key Highlights

The Inflation Reduction Act of 2022 intends to curb inflation by decreasing the amount of money the government spends, imposing new streams of revenue and lowering both healthcare and energy bills for Americans.

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Journal Entries to Account for Operating Leases Under the New Lease Standard

The new lease accounting standard is effective for private companies and nonprofits for fiscal years beginning after December 15, 2021. This new accounting rule requires organizations to report their operating leases on the balance sheet. This will...

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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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Donor-Advised Funds Can Add Tax Benefits to Your Charitable Giving

Charitable giving is generally a component of a comprehensive tax or estate plan. Receiving a tax benefit for charitable donations used to be a straightforward exercise for taxpayers who itemized deductions. Taxpayers simply made a contribution to a...

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Lisa Johnson, CPA, Gets Inspired by Child Focused Nonprofits

With a passion for serving child-focused nonprofits, Lisa Johnson’s enthusiasm for helping those organizations — both here at Gross Mendelsohn and in volunteer roles — is absolutely contagious. I sat down with Lisa to learn more about her nonprofit...

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Maryland Raises Business Personal Property Tax Exemption

The Maryland State Department of Assessments and Taxation (SDAT) made business owners very happy as House Bill 268 (HB268) has officially taken effect. This legislation increases the exemption amount of personal property eligible to be taxed. The...

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Section 1031 Like-Kind Exchanges Help Defer Capital Gains & Build Wealth

The like-kind exchange is one of the most money-savvy ways to defer capital gains taxes while building your long-term wealth. A 1031 exchange, which gets its name from Section 1031 of the Internal Revenue Code, can help you swap one investment property...

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New Lease Standard: Tips for Implementation

The new lease standard is finally here and effective for all private companies and nonprofits for years beginning after December 15, 2021. After years of discussion and several delays, it’s important for private companies and nonprofits to start...

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Lease Accounting Software Options

In wake of the new lease accounting standards, Accounting Standards Codification (ASC) 842 and International Financial Report Standards (IFRS) 16, it’s important that you have the right technology in place to handle complicated lease situations and...

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New Lease Standard to Impact Any Business or Nonprofit With a Lease

Some are calling the new lease standard the biggest accounting change of this generation. While the accounting profession moved the goalposts on its effective date for years, the time is finally here for organizations to implement the sweeping changes...

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Maryland Small Business Retirement Savings Program Set to Launch September 2022

It seems like ancient history, but back in 2016, Maryland passed a law requiring any covered employer (i.e., one that didn’t have its own retirement plan and used a payroll system or service) to participate in the Maryland Small Business Retirement...

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Bars and Restaurants Are Making the Move to a Manufacturing and Distribution Model

While nearly every industry was impacted by the COVID pandemic, one could argue that no sector took a beating like the hospitality industry. Government shutdowns and consumer hesitancy plagued bars and restaurants. Even in the post-pandemic recovery...

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5 Ways Attorneys Can Get Better Outcomes When Working With a Forensic Accountant

When I tell people that I’m a forensic accountant, they sometimes think of Christian Wolff, Ben Affleck’s character in the movie The Accountant. While it’s true that a forensic accountant can use their skills to investigate a company for potential...

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5-Point Checklist for Managing Inflation In Your Business

With inflation running high, businesses everywhere are struggling to manage costs. Regardless of whether or not inflation is in check anytime soon, its effect on business revenue and savings requires planning and prioritizing now. We put together a...

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5 Tips for Making Your Nonprofit Association's Audit Less Stressful

Many nonprofit associations get anxious in anticipation of their yearly audit, but there are ways you can make the process less stressful. Here are five tips from our audit team on how to take some of the stress out of your association’s yearly audit.

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Using Internal Controls to Protect Your Nonprofit Association From Fraud

Internal controls are vital to protect your nonprofit association from fraud. While most leaders believe employees work at an organization as much for the mission as they do for the paycheck, sometimes that just isn’t the case.

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Do You Have to Pay Tax On Student Loan Forgiveness?

Student loan forgiveness is getting substantial media attention, thanks to the Biden administration’s recent announcement that more than a half million borrowers will see their student debt balances wiped out automatically. This forgiveness cancels...

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