It is Officially 2020—Must I prepare for my taxes?
Article: It is Officially 2020—Must I prepare for my taxes? It is Officially 2020 Must I prepare for my taxes? Jessica I. Marschall, CPA, President Marschall Accounting Services LLC January 4th, 2019 Yes. Yes, you must begin preparing for your taxes. Like every CPA, we are entering our busiest season of the year. However, the […]
Read MoreBusiness Tax Returns—Preparing for 2019 Filings
Article: Business Tax Returns—Preparing for 2019 Filings Jessica I. Marschall, CEO, Marschall Accounting Services LLC January 5th, 2019 As CPAs, we have amassed troves of horror stories from taxpayers who have chosen to prepare their own business returns on a platform such as TurboTax. In some ways, we should appreciate the do-it-yourself platforms that allow […]
Read MoreStaying in My Lane—Tax expertise in my defined area
Article: Staying in My Lane—Tax expertise in my defined area Category: 1040 Income Tax Staying in My Lane Tax expertise in my defined area and relying on synergistic financial partners Jessica I. Marschall, President, Marschall Accounting Services LLC January 24th, 2020 I had the pleasure of meeting my financial advisor today for lunch. Chad Williams, […]
Read MoreSmall Business Accounting and Tax Practices
Article: Small Business Accounting and Tax Practices—Pitfalls to avoid Category: 1040 Income Tax Small Business Accounting and Tax Practices—or what pitfalls to avoid May 21st, 2020 Jessica I. Marschall, CEO, Marschall Accounting Services LLC Over the past nineteen years of being a CPA providing tax consultation services to small businesses, I have seen the good, […]
Read MoreTax Season 2021 Recap-Relevant Tax Issues And How To (Hopefully)
Article: Tax Season 2021 Recap-Relevant Tax Issues and How to (Hopefully) Category: 1040 income tax, Charitable Donations, Itemized deductoins Jessica I. Marschall, CPA, President Marschall Accounting Services LLC August, 2022 One: What Went So Wrong with Federal Withholdings? Were you in for a huge shock when you finished taxes and owed a huge debt to […]
Read MoreTax Court Disallows a Charitable Donation on a Technicality
Article: Tax Court Disallows a Charitable Donation on a Technicality Category: Charitable Donations Jessica I. Marschall, CPA, ISA AM, AAA Associate Member President & CEO Marschall Accounting Service, The Green Mission Inc., and Probity Appraisal Group August 15th, 2022 The US Tax Court has delivered yet another loss of a non-cash charitable contribution, this time […]
Read MoreIRS Increased Funding-What This Means For Taxpayers
Article: IRS Increased Funding-What This Means for Taxpayers Category: IRS Fearmongering language has been popping up from some public figures regarding the new Congressional bill allotting $79.6 million dollars to the IRS. We will outline what this bill does and, more importantly, does not mean. One: The IRS is Not Bringing Guns to Middle Income […]
Read MoreTax Season 2021: An Even Crazier Version Of 2020
Article: Tax Season 2021: An Even Crazier Version of 2020 Jessica I. Marschall, CPA President & CEO Marschall Accounting Services LLC Hold on tight—this is a long article. Skip around for sections pertaining to your personal tax situation or read in its entirety, possibly at bedtime to combat insomnia. Many CPA and tax firms have closed […]
Read More1099-K Subcontractor And Gig Income
Article: 1099-K Subcontractor and Gig Income Important Tax Information Jessica I. Marschall, President Marschall Accounting Services LLC May 30th, 2022 n early 2022, many people received 1099-K forms from companies such as Venmo, Paypal or other Payment Settlement Entities (PSE). These forms report total funds received through the PSE platform. They do not always translate into taxable income […]
Read MoreSEP And SIMPLE Plans-The Basics
Article: SEP and SIMPLE Plans-The Basics Jessica I. Marschall, CPA President Marschall Accounting Services LLC SEP and SIMPLE plans enable small business owners to invest in plans similar to a larger company’s 401(k) plan. SEP PLANS SEP or Simplified Employee Pension Plan allows employers to create retirement accounts for themselves and their employees. Pros of a SEP: […]
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