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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 Lanchak

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

Maryland Annual Reports and Personal Property Tax Returns Due on July 15, 2020

The Maryland State Department of Assessments and Taxation has confirmed that the deadline to submit Maryland Annual Reports and Personal Property Tax Returns will be July 15, 2020. This deadline will be in effect regardless of whether an extension request was filed.

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High Net Worth Families

IRS Waives Tax Penalty for 400,000+ Taxpayers

When the Tax Cuts and Jobs Act (TCJA) passed in December 2017, many taxpayers couldn’t foresee the implications of the legislation on their individual withholding for the coming year.

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Business Valuation  |  Construction & Real Estate  |  High Net Worth Families  |  Manufacturing & Distribution

Why a Business Valuation is Necessary for Estate Planning

The last few years were filled with uncertainty regarding the future of estate and gift taxes. There was a flurry of activity as people made gifts to take advantage of relatively favorable tax laws, which were due to revert to significantly less friendly provisions starting January 1, 2013.  

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High Net Worth Families

How Can I Reduce or Even Eliminate Gift and Estate Tax?

A GRAT can be an effective estate planning tool for lowering taxes. What is a GRAT (Grantor Retained Annuity Trust), and What are the Benefits? A Grantor Retained Annuity Trust, or GRAT, is an estate planning tool that provides an individual the opportunity to transfer the growth on appreciating assets to their children or other named beneficiaries with very little or no gift tax consequences.

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