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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.

How Does the New CECL Model Affect Your Financial Statements?

Non-public entities will need to adopt the new Current Expected Credit Loss (CECL) model starting with 2023 calendar year-end financial statements. What does this mean for your company and your financial statements?
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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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