Gross Mendelsohn Blog

The CARES Act and Its Impact on Individuals and Businesses

By: Ernie Paszkiewicz March 30, 2020

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.

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

By: Linda Pietras March 25, 2020

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.

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

By: Scott Handwerger March 24, 2020

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.

Tax Deadline for Individual Taxpayers Extended to July 15

By: David Goldner March 20, 2020

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.

What the New Families First Coronavirus Response Act Means for Business Owners and Employees

By: David Goldner March 20, 2020

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.

Advice for Business Owners Amidst a Potential Economic Crisis

By: Susan Gorham March 19, 2020

With a potential economic crisis on the horizon, business owners are more than concerned. Business owners everywhere are walking a delicate tight rope of financial concern, meeting cancellations, travel restrictions, technology challenges and employee morale, all while trying to remain empathetic toward employees and customers. It’s flat out hard being a business owner right now. When I asked some of our firm’s leaders for their #1 piece of advice for business owners, several common themes emerged: communication and patience. Let’s look at what they had to say.

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