Gross Mendelsohn Blog | High Net Worth Families

DC Paid Family Leave Program Begins

By: Charles Monroe July 10, 2020

Effective July 1, 2020, employees who work in the District of Columbia more than 50% of the time and whose wages are subject to DC unemployment tax are eligible for paid family leave.

Emergency Relief for Required Minimum Distributions Taken in 2020

By: Scott Handwerger June 24, 2020

If you took a required minimum distribution (RMD) from your retirement account in 2020, you now have until August 31, 2020 to return the money without incurring any tax consequences. This new guidance was issued by the IRS on June 23 and corrects previous legislation that excluded retirees who took RMDs prior to the passing of the CARES Act in March.

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Tax Planning Opportunities in Light of COVID-19

By: Chris Wehner May 14, 2020

All of us are adapting to a new way of life as the world struggles to deal with the COVID-19 crisis. To mitigate the consequences of stay-at-home orders, federal and state agencies have created various programs to assist small businesses dealing with losses of revenues and to sustain employees who have lost their jobs in industries where shelter-in-place orders exist. Following are a few tax planning opportunities that stem from the Coronavirus Aid, Relief, and Economic Security (CARES) Act and other recent legislative acts to consider.

What Now? How to Handle Investments in an Uncertain Economy

By: Michael Little May 07, 2020

COVID-19 sent the economy into a tailspin. Looking ahead, what can investors expect in the future?

What Now? Preparing for the Future with an Estate Plan

By: David Goldner May 06, 2020

The unfortunate reality of COVID-19 is forcing us to face those “what if” scenarios no one likes to think about. Now is a critical time to take a second look at your estate plan to make sure your personal financial house is in good order. While no one gets excited about estate planning, your family will be glad you prepared.

Paycheck Protection Program Replenished With $310 Billion In New Funds

By: Ernie Paszkiewicz April 24, 2020

Small business owners will be relieved to hear that a new $484 billion relief bill has been signed into law by President Trump. This replenishes the Paycheck Protection Program (PPP), which was quickly depleted just two weeks after the program was funded as part of the CARES Act in late March. This is promising news for business owners who have been patiently waiting for additional funds to be made available through the PPP.