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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 Leipnik

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High Net Worth Families

Quick Guide: Maryland Student Loan Debt Relief Tax Credit

There's good news for Maryland residents who have incurred at least $20,000 in undergraduate and/or graduate student loan debt: you may be eligible for a Maryland tax credit.

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

Applications Now Open for Baltimore County Small Business Emergency Relief Grants Program

Applications opened today for Baltimore County’s Small Business Emergency Relief Grants Program. Here’s what you need to know about the $10 million COVID-19 relief fund and how to apply.

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

Applications Now Open for Baltimore City COVID-19 Small Business Assistance Fund

The application period for this program has closed. Baltimore City’s COVID-19 Small Business Assistance Initiative is offering up to $5.5 million in relief to small businesses. Applications for the program just opened. However, the application window is small. Here’s what you need to know about the relief program and how to apply.

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

Public Health Emergency Grant for Montgomery County Businesses and Nonprofits

The application period for this program has closed. Businesses and nonprofits located in Montgomery County who have experienced significant financial losses due to COVID-19 may be eligible for grant funds of up to $75,000 as part of Montgomery County’s Public Health Emergency Grant (PHEG) program.

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Nonprofit

The Nonprofit “Parking Tax” Was Repealed

On December 20, 2019, the “parking tax” for nonprofits was repealed. The parking tax, otherwise known as the taxation of transportation fringe benefits by nonprofit employers under Section 512(a)(7), was first brought into law with the passing of the Tax Cuts and Jobs Act (TCJA) at the end of 2017.

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Nonprofit

E-Filing Will Be Mandatory for All Tax-Exempt Organizations

The IRS recently announced new rules for e-filing requirements for tax-exempt organizations. The Taxpayer First Act requires all tax-exempt organizations to electronically file Form 990. Currently, only a limited number of nonprofits are required to file electronically. That all changes for tax-exempt organizations starting with tax years that begin after July 1, 2019. Let’s look at the kinds of organizations and tax returns that are affected.

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