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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.

David Goldner

Blog Feature

Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Service Businesses

Small Business Disaster Loans Available in Maryland, Washington, DC and Virginia

The U.S. Small Business Administration (SBA) is making low-interest disaster recovery loans available to small businesses that have been severely impacted by the COVID-19 pandemic. Loans are available to businesses located in declared disaster areas, including Maryland, Washington, DC and Virginia.

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Construction & Real Estate  |  Government Contractors  |  High Net Worth Families  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Tax Deadline for Individual Taxpayers Extended to July 15

Earlier this week, Treasury Secretary Steve Mnuchin delayed the deadline for individual tax payments by 90 days, moving the deadline to July 15 from April 15, when individual tax returns are normally due. Today Secretary Mnuchin took to Twitter to announce that the deadline for individual income tax filings has been extended to July 15, 2020.

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  High Net Worth Families  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

What the New Families First Coronavirus Response Act Means for Business Owners and Employees

President Trump just signed into law a second phase of coronavirus-related relief, called the Families First Coronavirus Response Act. It’s a $100 billion relief package designed to offer help to businesses and their employees who are impacted by the coronavirus. The first phase of relief, an $8.3 billion piece of legislation, was dedicated to coronavirus vaccine research and development. This new legislation includes provisions for tax credits for employers who offer paid sick leave or family or medical leave for their employees who miss work for various coronavirus-related reasons. Let’s take a closer look at the FFCRA and what it means for businesses and employees, and what business owners need to be ready to offer to employees by April 2.

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Business Valuation  |  Forensics & Litigation Support  |  High Net Worth Families

Which Valuation Method Should Be Used for a Valuing Business for Gift and Estate Tax Purposes?

In the recent Tax Court opinion in Estate of Aaron U. Jones v. Commissioner of Internal Revenue  (T.C. Memo 2019-101), the court came to some surprising opinions that benefit taxpayers valuing businesses for gift and estate tax purposes.

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Transferring S Corporation Shares in a Divorce

In many divorces, a significant asset of the marriage is an S corporation. Oftentimes, the business owned by the S corporation is the source that will be used to make lifetime distributions to a spouse. Two important aspects of S corporations prevent a simple solution to this problem.

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Fresh Ideas

Employee Engagement: We Implemented a Staff Advisory Board

There’s a lot of talk about employee engagement these days. At Gross Mendelsohn, we have an unusually large number of career employees (i.e., individuals who stick with one company throughout the majority of their career). Despite this, most employers would agree that career employees are becoming less and less the norm.

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