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

The CARES Act and Its Impact on Individuals and Businesses

The economic implications of the COVID-19 pandemic are shaping up to be seismic. On March 25, the Senate passed a third economic stimulus package, the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act.

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

Layoff or Furlough: What’s Right for Your Business?

Businesses are doing their part to help prevent the spread of COVID-19 by following CDC guidelines for disinfecting and offering remote work arrangements for employees. The COVID-19 outbreak has forced many business owners to put their contingency plans into place to keep operations going, and some are wondering how they will make payroll.

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

Economic Relief Packages for Maryland Small Businesses and Nonprofits Disrupted by COVID-19

On March 23, 2020, Governor Larry Hogan announced new economic relief packages from the Maryland Department of Commerce for Maryland small businesses and nonprofits affected by COVID-19.

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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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