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COVID-19 Resource Center

A free library of information to help businesses, families and nonprofits stay up-to-date during the COVID-19 pandemic.

The CARES Act

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. This $2+ trillion package provides emergency relief to businesses, individuals and nonprofits who face economic hardship as a result of the COVID-19 pandemic.

The CARES Act and Its Impact on Individuals and Businesses

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Financial Programs for Nonprofits Under the CARES Act

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CARES Act Provides Relief for Some Retirement Plan Participants

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

Quite frankly, it’s hard to tell what tomorrow, let alone the next three months, holds for businesses. If you are considering ways to manage your workforce to protect the financial viability of your organization, you’re faced with some tough decisions ahead. It’s important to know what your options are, and how each option affects your business and employees.

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Economic Relief Programs for Businesses

Funds Available for Maryland Manufacturers Who Can Produce Critical Need Items

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

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Small Business Disaster Loans Available in Maryland, Washington, DC and Virginia

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Advice for business owners amidst a potential economic crisis

"Take a breath. This is uncharted territory, but quick fixes and fast decisions could cause more problems."
Bill Walter ,
Principal
Gross Mendelsohn's Technology Solutions Group
“Communicate, communicate, communicate to workers in the office and those who are working remotely on variety of topics, not just the coronavirus, as that may create more panic and disrupt productivity even more.”
Linda Pietras ,
Director of Human Resources
“Check with your banker about your lines of credit. They understand the current situation and depending on your industry, might be able to make additional funds available until things settle down, since payments from customers might be slow during these trying times.”
Daniel Larson ,
Principal
"Microsoft Teams, Slack, GoToMeeting, etc. are a great alternative to allow you to continue to interface with coworkers, peers and clients while still practicing the social distancing our world needs.”
Jeremy Weisinger ,
Senior Network Consultant
Gross Mendelsohn's Technology Solutions Group
"Business owners and employees should stay visible throughout this crisis. Lots of meetings that would have taken place in person are moving to virtual meetings. You can be visible — literally — by turning on the video feature of whatever tool you use for virtual meetings.”
Susan Gorham ,
Director of Marketing

July 15 Tax Deadline

🚨 Tax Deadline Extended to July 15

Secretary Mnuchin announced on March 20, 2020 that the deadline for individual income tax filings has been extended to July 15, 2020. This is a bright spot of news for taxpayers amidst daily coronavirus fears and uncertainty. Now, both business and individual taxpayers get additional time to file and make tax payments without incurring interest or penalties.

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Firm Updates


 

Gross Mendelsohn Remains Open, Here to Help

March 23, 2020

As you might have heard in Governor Hogan’s press conference today, non-essential businesses in Maryland are to close their physical locations by 5pm on March 23. Accounting firms, however, are deemed essential by the state of Maryland.

Similarly, in Virginia, Governor Northam announced today that many non-essential businesses must close by midnight on March 24. This document includes information on the types of businesses Virginia deems "essential."

The health and safety of our staff, their families, our clients and the entire community is our #1 concern. We will continue to do our part to help prevent the spread of COVID-19.

We’re here to help business owners and taxpayers handle the many financial questions and challenges they are experiencing as a result of this crisis.

Our Clients

As I mentioned in my March 13 statement, we put our contingency plan into action on March 16. The majority of our staff has been working remotely and seamlessly via secure technology while a few staff members remain in the office to receive mail and packages.

We continue to work toward completing client engagements with the same level of timeliness and thoroughness that you are accustomed to.

In-person client meetings are suspended for now. However, our firm has robust video conference tools that allow us to stay in touch, face-to-face, with clients and employees. Your Gross Mendelsohn team may use those tools to reach out to you when a face-to-face meeting is warranted.

If members of our staff are scheduled to be onsite at your office in the near future, someone from the firm will be in touch with you very soon.

Our Staff

Many employees have been working remotely since March 16. I’m proud of how they’ve handled this abrupt transition. They are juggling their normal workloads, family obligations and, like all of us, a situation that seems to change by the hour. I know they will continue to do their best and give 100% to all that is on their plates.

How You Can Reach Us

The ways you can reach us have not changed. You can continue to call (800.899.4623) and email us as you normally do.

If you don’t have your Gross Mendelsohn’s contact information handy, no worries. Contact us here and we’ll point you in the right direction.

Resources for Clients

We continue to compile resources and information for businesses and individuals in light of the COVID-19 pandemic. Visit this page for frequent updates on things like tax deadline extensions, taxpayer relief, and advice for business owners amidst this crisis.

This remains a challenging time for all of us. I encourage you to talk with our team about anything that’s on your mind. We’re in this together.

Thank you, as always, for the continued trust you place in our firm, and be safe.


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David A. Goldner, CPA, CVP, CFP
Managing Partner
dgoldner@gma-cpa.com
800.899.4623

 

 

 

 

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