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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.

What Your Nonprofit’s Financial Statements Reveal [Video]

The numbers on your nonprofit’s financial statements tell a colorful story ― if you know what to look for. Nonprofit CEOs, executive directors and board members who have a solid understanding of financial statements typically make better decisions for...
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Optimism Abounds for Maryland’s Manufacturing Industry

There’s a lot to feel optimistic about when it comes to Maryland’s manufacturing industry. I recently sat in on a webinar presented by two of the state’s biggest manufacturing champions, the Maryland Manufacturing Extension Partnership (MD MEP) and...
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Common Shortfalls of Accounting Systems In Manufacturing Businesses [Video]

Having proper accounting practices and technology in place is essential for success in your manufacturing business. Without the right accounting system in place, manufacturers face a plethora of challenges and gnarly consequences that can be avoided. ...
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4 Common Misperceptions About Lost Profits Claims

Claims for lost profits arise in many types of cases, including contract disputes, business torts, insurance claims, personal injury and antitrust claims.
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2024 Payroll Update

Social Security & Medicare Tax As of January 1, 2024, the maximum amount of annual earnings subject to Social Security increases to $168,600 (from $160,200 in 2023). There is no limit on the amount of earnings subject to the Medicare tax. The maximum...
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IRS Delays $600 Form 1099-K Reporting Requirement Threshold

Tax season can be a confusing and stressful time for many, with various forms and reporting requirements to keep track of. One form, the 1099-K, is the subject of a delay by the IRS. The IRS recently announced the delay of a 2021 law that would require...
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