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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.

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David Leipnik

Blog Feature

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The Nonprofit “Parking Tax” Was Repealed

On December 20, 2019, the “parking tax” for nonprofits was repealed.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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Blog Feature

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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Blog Feature

Nonprofit

How This Nonprofit Lost Their Nonprofit Status – Giving Hearts, Inc.

It’s not too often that you hear about an organization losing their nonprofit status. Here’s the story of one that did.

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Blog Feature

High Net Worth Families

How to Receive Matching Funds for Your Maryland 529 College Savings Plan

If you have children or grandchildren, you’re likely concerned about the cost of their college education. For Marylanders, there is a little bit of relief in sight, thanks to the state teaming up with the Maryland College Investment Plan. You might be eligible to receive matching funds from the state of Maryland if you meet certain criteria, but you must submit an application by May 31.

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Blog Feature

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

The “Parking Tax” and How It Impacts Businesses and Nonprofits

As 2019 gets closer, businesses and nonprofits across the country are struggling to understand how to calculate how new parking expense rules will impact their tax liability. The changes to parking expense deductibility and the unrelated business income tax for nonprofits are part of the changes under the Tax Cuts and Jobs Act (TCJA).

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Blog Feature

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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