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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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High Net Worth Families

How to Prepare for the Future with an Estate Plan

While no one gets excited about estate planning, for your family's sake, it's important to make sure your plan is up to date. This article covers some of the important information I like to share with clients during the estate planning process.

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Construction & Real Estate  |  High Net Worth Families

Real Estate Investing: Passive vs Active Income

We get a lot of calls from people who want to start dabbling in real estate. While real estate can be a lucrative investment over time, those who want to dabble in real estate should be aware of how their investments will impact their taxes. If you are considering getting into real estate investing, there are a few key things you should know in order to increase your odds of making it a lucrative venture.

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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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High Net Worth Families  |  Service Businesses

King of Pop’s Estate Prevails Against IRS

The U.S. Tax Court recently issued a 271-page opinion, ending the long-running litigation between the Estate of Michael Jackson and the Internal Revenue Service. The court’s ruling was a major win for Jackson’s estate and the decision has the potential to impact future valuation cases.

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

Tax Changes for Individuals and Businesses Under the American Rescue Plan

On March 11, 2021, President Biden signed the American Rescue Plan into law. This $1.9 trillion COVID relief bill contains several tax provisions. Here are the highlights for individuals and businesses.

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

Maryland Passes $1 Billion+ COVID-19 RELIEF Act

Maryland Governor Larry Hogan signed the RELIEF Act into law on February 15, 2021. The RELIEF Act is intended to help reverse some of the adverse economic conditions brought about by the COVID-19 pandemic. This legislation includes changes to personal and business tax filings, relief payments for certain individuals, a sales and use tax credit, and changes to pass-through entity taxation. Let’s look more closely at some of the key provisions in the $1 billion plus relief package.

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