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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  |  Healthcare  |  High Net Worth Families  |  Manufacturing & Distribution  |  Service Businesses

Tax Challenges for Growing Businesses

Every business wonders how they can pay less in taxes. Or at least that’s what the firm’s managing partner, David Goldner told me when we sat down on the set of Next Level to chat about tax challenges that growing businesses often face.

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

How Taxpayers Will Be Impacted By Recent Tax Law Extenders

With the holidays over, tax-minded individuals are now focused on gathering their paperwork to file 2019 returns and project what their tax situation will look like in 2020. Each year, Congress decides to extend or let expire various provisions of the tax law. This article summarizes some of the more commonly-used “extenders” so individuals and business owners may understand the impact of various courses of action.

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

How to Report Cryptocurrency Transactions

The IRS recently publicized that it will be cracking down on taxpayers for not properly reporting cryptocurrency transactions. In this article, we’ll summarize different types of transactions and how the IRS has recommended they be reported.

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Business Valuation  |  Forensics & Litigation Support  |  High Net Worth Families

Which Valuation Method Should Be Used for a Valuing Business for Gift and Estate Tax Purposes?

In the recent Tax Court opinion in Estate of Aaron U. Jones v. Commissioner of Internal Revenue  (T.C. Memo 2019-101), the court came to some surprising opinions that benefit taxpayers valuing businesses for gift and estate tax purposes.

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High Net Worth Families

IRS Waives Tax Penalty for 400,000+ Taxpayers

When the Tax Cuts and Jobs Act (TCJA) passed in December 2017, many taxpayers couldn’t foresee the implications of the legislation on their individual withholding for the coming year.

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High Net Worth Families  |  Nonprofit

Nonprofits Can Boost Fundraising by Suggesting Tax Planning Strategies to Donors

A recent Blackbaud Institute charitable giving report confirmed nationally what we have seen in the Baltimore/Washington, DC area market: charitable giving increased slightly, by 1.5%, from 2017 to 2018. This increase occurred not just among the super wealthy, but also among a larger population of high net worth charitably inclined individuals and families. This uptick in charitable giving is, of course, excellent news for nonprofits. A nonprofit can benefit even more, however, when its staff is able to educate potential donors about several tax benefits of charitable giving – beyond a simple cash donation. To understand the big picture, let’s first step back and take a look at the reason behind the increase in giving.

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