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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  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Quick Guide: Work Opportunity Tax Credit for Employers

The Work Opportunity Tax Credit is a long-standing tax benefit that encourages employers to hire employees from ten targeted groups facing barriers to employment.

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Manufacturing & Distribution

4 Tax Saving Tips Maryland Manufacturers Need to Know

One challenge manufacturing businesses face year in and year out is taxes. Even with a good CPA working alongside them, no business owner looks forward to dealing with taxes, let alone paying a tax bill. The good news? There are tax breaks specifically designed for manufacturers to help lower your tax liability. We’re here to tell you about two tax credits and two tax exemptions that every manufacturer should know about.

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

How to Apply for and Calculate PPP Loan Forgiveness

The Paycheck Protection Program (PPP) is in the forgiveness stage for most businesses. Here’s an overview on how to navigate the PPP loan forgiveness process.

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

Beginner’s Guide: Tax Implications for Remote Employees

Remote employees can complicate taxes for businesses. In most cases, having a remote employee creates nexus or the obligation to file tax returns and pay taxes in the local jurisdiction and/or state that an employee works.

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

Pay Less in Taxes When Transferring Your Family-Owned Business to the Next Generation

There are many different ways a business owner can transfer a family-owned business to the next generation. Each method comes with its own set of risks and benefits, especially when it comes to tax implications associated with the transfer or sale.

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

New Tax Reporting Requirement for Virginia Businesses — Unitary Business Report

Businesses who are subject to Virginia income tax may need to file a one-time Unitary Business Report by July 1, 2021. If your company is required to file this report but fails to file by July 1, your business will be subject to a $10,000 fine. This new filing requirement affects businesses that are part of a “unitary business.”

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