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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.

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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