The One Big Beautiful Bill Act: Expanded QSBS Benefits and Pro-Business Tax Reforms
By Jessica I. Marschall, CPAJuly 8, 2025 The recently enacted One Big Beautiful Bill Act delivers a comprehensive package of federal tax reforms aimed at accelerating small business formation, investment activity, and long-term capital growth. Among its most impactful provisions are the enhancements to Qualified Small Business Stock (QSBS) under Internal Revenue Code Section 1202, […]
Read MoreUnderstanding Opportunity Zone Tax Incentives and Qualified Opportunity Funds
By Jessica I. Marschall, CPAPresident, MAS LLCJuly 7, 2025 Introduction Since their introduction under the Tax Cuts and Jobs Act of 2017, Opportunity Zones have emerged as a powerful tool to encourage long-term investment in economically distressed communities. These provisions offer significant tax advantages to individuals and entities willing to reinvest capital gains into designated […]
Read MoreAn Argument Against Holding Real Estate in an S Corporation
As a CPA, it is crucial to understand the tax implications of different business structures for real estate holdings. One common mistake is placing real estate properties into an S Corporation (S Corp). Here are several compelling reasons why this should be avoided: 1. Taxation on Distributions When real estate is held in an S […]
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Business Assets: Section 1231, 1245, and 1250
Jessica I. Marschall, CPA, ISA AM January 23rd, 2024 Section 1231, Section 1245, and Section 1250 are provisions of the United States Internal Revenue Code that deal with the taxation of certain types of assets. What About Depreciation Recapture? Depreciation recapture under Section 1245 and Section 1250 refers to the process by which the IRS […]
Read MoreNavigating the IRS: Start-Up Expense Allowance for Small Businesses
Introduction: Starting a small business is an exciting venture that often comes with various costs and expenditures. To assist entrepreneurs in the initial stages of business development, the Internal Revenue Service (IRS) offers allowances for start-up expenses. Understanding and properly utilizing these allowances can significantly benefit small businesses, providing them with the financial flexibility needed […]
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